Whether you are busking or gigging - until you get to the 'concert venue' point (can be any size from 100 up), cover songs is the only way you'll make any money. If you're doing it for the love of YOUR music, then by all means play what you want. but don't expect the money (even busking) to come rolling in no matter where you are located. Sad fact, but true.
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Youtube: http://www.youtube.com/mikebirchmusic
Facebook: http://www.facebook.com/mikebirchmusic