What percentage of artists actually make a living from their art?

According to research on 80,000 artists in New York and London, only about 6.7% actually have a job as an artist bringing in sizable income. The breakdown shows: 75 out of 80,000 (0.09%) are superstar artists selling over a million dollars per year; 300 out of 80,000 (0.38%) sell between $100,000 and $1 million; and 5,000 out of 80,000 make under six figures with some side job. This means roughly 93% are essentially hobbyists. However, artists selling direct online without the traditional 50% gallery commission and using modern marketing techniques are seeing significantly higher success rates - potentially 30-40% reaching meaningful income levels versus the historical 6.7%.

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Asked by general teaching point · Answered by Patrick Shanahan · art-marketing-podcast · 2021-07-22