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You have to consider that most musical acts are NOT solo acts. Split that $5k a month between a band of several people and it’s not livable anymore. I think you have to be up in the several million listens range to have it be “livable.” That also assumes you maintain that level of interest indefinitely.
that’s just spotify, i assume you would also have youtube, apple music, and bandcamp and also do live performances on top
it’s never been easy to make money in music, these guys will tell you:
https://m.youtube.com/watch?v=g-qkY2yj4_A
and that was the 70’s, as mentioned earlier:
the market is flooded, you’ll need to really put a lot of effort in to break out