That's really hard to say. There are way to many variables involved. I will give you one recommendation: Do not allocate a daily budget of anything more than you are willing to lose--without any return. I will also mention I hardly ever see ads for music. Perhaps the recording industry has tried this already without positive results?
For example, I just Googled "Led Zeppelin". Not one single ad on the page. Googled "Kid Rock" and got a tour schedule ad. "Lady Gaga" -- no ads. This usually does not indicate an opportunity. More often it indicates it has been tried by others with little success.
Think of all the keywords you might use to promote your music. Then run them through Google and pay attention to the ads that show up. If there's no music in the ads, there is probably a very good reason for that.
This is for search. There may be opportunites for you in display, or in promoted videos on YouTube.
Best of Luck!