Musicians' Guide to Survive the Next Economic Collapse
Stay ready, so you don't have to GET ready.
Yo, it’s Drew.
I am not going to sugarcoat this; shit is getting real.
Moody’s just downgraded the U.S. credit outlook from AAA to AA1, signaling eroding confidence in the U.S.’s ability to pay creditors.
Japan, the world’s largest holder of U.S. Treasuries (more than $1.1 trillion) is dumping them on the open market, and no one is buying. This is leading to…
Long-term U.S. Treasury bond yields are greater than 5%, and still rising.
Congress is toying with a spending bill that is set to increase the national deficit by $5 trillion.
Economic chaos.
The silver lining: Musicians have survived worse.
In fact, during the Great Depression, thousands of musicians didn’t just get by — they thrived.
So, let’s unpack what they did right, and learn how you can copy their success in 2025.
In the 1930s, Reinvention Wasn’t Optional
In the early 1930s, unemployment hit 25%.
Venues shut down. Wealth dried up. Everyday people stopped spending.
But musicians like Duke Ellington, Louis Armstrong, Benny Goodman, and Billie Holiday adapted by leaning into new media.
Shortly after its invention in the 1920s, the radio became the main platform for artist discovery and music listening. Even though record sales fell after this new invention, the new medium extended music outreach to broader audiences worldwide.
Furthermore, tours expanded their focus. Traveling acts performed public concerts in parks, neighborhoods, and community centers—not just ballrooms. Musicians stayed busy.
Artists that adapted to the radio experienced a surge in popularity, which boosted demand for their talents.
And for those less famous? The WPA (Works Progress Administration) launched the Federal Music Project, which paid 16,000+ musicians to:
Teach music in public schools
Perform free concerts in libraries and parks
Compose original works for community programs
If you were willing to pivot, there was work.
But that was the 1930’s.
In 2025, the government will not save us.
Why Today Feels Like 1929 — and What That Means for You
Let’s break this down:
Moody’s downgrade signals shrinking global confidence in U.S. debt. Not a good sign.
Rising bond yields is another indicator of eroding investor confidence in U.S. Treasuries. Because Washington is unable/unwilling to take measures to reduce our $36 trillion dollar deficit, potential buyers of U.S. treasuries are demanding higher returns for the increased risk.
The Bank of Japan is selling U.S. Treasuries. Additionally, they increased their bond rates for the first time in 17 years (from -0.1% to 0.1% )
This creates less demand for USD and creates a scenario for potential currency instability (see the unwinding of the Yen Carry Trade).
A $5 trillion deficit expansion means:
Less public arts funding
Higher inflation
More financial pressure on everyone, especially freelancers
And guess what always gets cut first in a crisis?
👉 The arts.
What To Do About It: Your Recession-Proof Music Career Blueprint
Skill Stack:
I talk about skill stacking in my past newsletter here. Read it after this one!
Learn high-demand, low-cost skills: video editing, DAW production, music licensing, content marketing. If you’re interested, I can teach you a bit about each of these things!
Invest in courses to boost learn faster. Growing your business IQ is a MUST.
Build Additional Income Streams:
Build a teaching studio. I do not teach, but that does not mean you shouldn’t.
Offer arrangement/composition services. I am doing this with wholesoul.
Sync license your music for podcasts, games, ads.
Launch a niche community (Patreon) or digital product (PDFs, sample packs, templates)
Digital First, Always:
Don’t rely on in-person gigs alone. Creating digital content allows people to consume your work on-demand. This is force multiplier because you can create a video once, and people can view it anywhere on the planet, forever.
Build an email list so you can own the relationship with your audience. Algorithms change constantly, so do not rely on them.
Repurpose your content for TikTok, Instagram, and YouTube Shorts and funnel that audience toward a platform you own (Newsletter, Paid Community, Website).
Community is Capital:
Develop relationships with artists you admire. Collaborate often.
Deliver value in Discord groups, Facebook groups, and other niche community centers. Instead of bragging about how cool you are, be generous with praise, share what you know, and give more than you take.
Relationships will carry you through when the cash flow doesn’t!!!!
Final Thought: Nobody's Coming to Save You
There’s no WPA in 2025. Here is why this does not matter:
You have access to more tools, platforms, and people than any musician in history. Creating content for the internet is like farming. Plant high-quality seeds, and you will be astounded by what grows!
"The best time to plant a tree was 20 years ago. The second-best time is now."
Start building your safety net today.
Your future self — and your art — will thank you.
Action Steps:
Write down 3 non-performance income streams you could start building.
Pick 1 and commit to testing it in the next 30 days. Reply to this email and tell me which you chose!
Document your journey in building this new revenue stream on social media. Cringey, messy action is much more powerful than perfect inaction.
Do not sit still. If you stay ready, you won’t ever have to GET ready.
Talk to you soon,
Drew