If you want to make a ton of money in the music industry, you need to learn how to write a song. Actually, it's not enough to write just any song; you need to write a HIT song. Earlier this week, we wrote an article about whether or not it’s possible to retire off the royalties from one song, like Hugh Grant's character in the movie "About A Boy." We concluded that not only is it possible, but if you manage to write a song that has longevity, you can retire with a bloody fortune. In that same article, we listed the 10 "richest" songs of all time, which have produced enough money through royalties, endorsements, and other streams of income to make the songwriters (and their heirs) extremely wealthy. The list was so intriguing that we decided it deserved its own article with more details.
If you’re interested in making a lot of money off songwriting, remember these three tricks:
- Write a Christmas song.
- Write a timeless love song.
- Get your song featured in a movie.
And if you really want to hit the jackpot, write a Christmas love song that gets featured in a movie! So without further delay, let’s take a look at the 10 richest songs of all time:
The 10 Richest Songs Of All Time:
10. Mel Torme – "The Christmas Song" (1944)
Estimated earnings: $19 million.
You probably know this song by its opening line, "Chestnuts roasting on an open fire." Ironically, Torme is Jewish and wrote the music and the song in under 45 minutes during a blistering hot Chicago summer when he was just 19 years old. The song has since been covered by hundreds of huge artists, including Michael Buble, Tony Bennett, Garth Brooks, Bob Dylan, Frank Sinatra, NSYNC, and many more. Despite having written more than 250 songs during his career, "The Christmas Song" was by far Mel's biggest financial success. He often referred to it as "my annuity."
9. Roy Orbison & Bill Dees – "Oh Pretty Woman" (1964)
Estimated earnings: $19.75 million
One of the best ways to make a ton of money off a song is to get it featured in a major Hollywood movie. Better yet, get a major Hollywood movie to name itself after your song. That's what happened for Roy Orbison and Bill Dees' 1964 tune "Oh Pretty Woman." The song was a huge hit in its own right 25 years before the Richard Gere/Julia Roberts feature film, but clearly, the movie is responsible for much of the song's lasting popularity today. Right before his death in 2012, Bill Dees told a reporter that he was still earning $100-$200 thousand per year in royalties off "Oh Pretty Woman," nearly 50 years later.
8. Sting – "Every Breath You Take" (1983)
Estimated earnings: $20.5 million
Sting's classic song about an unhealthy obsession with a lost love was one of the biggest hits of 1983, spending eight weeks at #1 on the Billboard Hot 100. Billboard ranked "Every Breath You Take" at #25 on their list of the top 100 songs of all time. In 1997, the song received a huge reboot in popularity when Puff Daddy released his cover tribute to the late rapper Notorious B.I.G., "I’ll Be Missing You." Diddy’s version would go on to win a Grammy and become one of the best-selling singles of all time, with more than 7 million copies sold worldwide.
7. Haven Gillespie & Fred J Coots – "Santa Claus is Coming to Town" (1934)
Estimated earnings: $25 million
The second of three Christmas songs on this list. The day after the song debuted, over 100,000 people ordered copies of the sheet music, and 400,000 copies had sold within a few months. The song has been covered by a wide range of artists, including Justin Bieber, Bruce Springsteen, and Mariah Carey.
6. Ben E. King, Jerry Leiber & Mike Stoller – "Stand By Me" (1961)
Estimated earnings: $27 million
Similar to "Oh Pretty Woman," "Stand By Me" was a huge hit in its own time and topped the charts again 20 years later when the movie by the same name was released in 1986. The song's continued popularity showcases its timeless appeal and emotional resonance, making it a favorite for many generations.
Strategies for Writing a Profitable Song
Now that we've looked at some of the richest songs, let's explore strategies for writing songs that can earn you royalties and become part of this elite group.
Understanding the Elements of a Hit Song
To create a hit song, it’s essential to understand the elements that make a song resonate with listeners. This includes having a catchy melody, relatable lyrics, and a strong emotional hook. A great song often tells a story or captures a moment that listeners can connect with, making them want to hear it again and again.
Marketing Your Song
Once you’ve crafted the perfect song, it's time to market it effectively. Utilize social media platforms, music streaming services, and live performances to reach a wider audience. Collaborating with established artists can also help to increase your song's reach and credibility.
Leveraging Licensing Opportunities
Another avenue to consider is licensing your song for use in commercials, films, or television shows. This can be a lucrative way to earn additional income while reaching new audiences. Many successful songs have gained popularity through their use in popular media.
Final Thoughts on Songwriting Success
Writing a hit song requires creativity, understanding of the music industry, and effective marketing strategies. By following the tips outlined in this article and studying successful songs, you can enhance your songwriting skills and potentially join the ranks of the wealthiest songwriters.
Remember, the key is to keep writing, learning, and adapting. Each song you create is a step closer to your goal of making a significant impact in the music industry!
