As a musician, it can be difficult to make a living solely through your music. However, there are several things that you can do to increase your chances of making money with your talents. Fortunately, there are several ways to monetize your music and generate revenue streams with your craft. In this article, we will explore the top 10 things that musicians could do to make money with their music and talents.
Social Media and Brand Partnerships
Social media has become an essential tool for musicians to connect with their fans and promote their music. Platforms like Instagram, Twitter, Facebook and YouTube allow musicians to reach a larger audience and build a loyal fanbase. Brands are always looking for ways to connect with consumers, and music is a powerful tool for reaching people. When you have enough followers or subscribers, you can work with brands that fit your vibe to create sponsored content (example: paid ad reference links) or even perform at brand events.
Collaborations
Collaborating with other artists can lead to new opportunities and revenue streams. Working with other musicians can also help you learn new techniques and gain valuable experience. You can work with other musicians, producers, or even brands to create music or content that reaches new audiences and expands your fanbase.
Play live shows
Playing live shows is one of the most traditional and popular ways for musicians to earn money. You can book gigs at local venues, clubs, restaurants, festivals, or even private events like weddings or corporate parties. You can also organize your own concerts and charge a fee for tickets. The key is to build a following and promote your shows effectively.
Online Streaming
Streaming services like Spotify and Apple Music offer a great way to get your music in front of a large audience. While streaming payouts, otherwise known as “recorded performance royalties”, can be relatively low, having your music available on these platforms can lead to more exposure and opportunities.
Sell digital downloads
In addition to selling physical copies of your music, you can also sell digital downloads through platforms like iTunes, Amazon and Bandcamp. This allows fans to purchase and download your music from anywhere in the world. You could even sell your music from your own website with WordPress eCommerce plugins.
Songwriting Royalties
Songwriting is a skill that can be monetized in many ways. You can write songs for other artists, license your music for commercials or TV shows, or even sell your songs to music libraries. If you write your own music, you can earn royalties when your songs are played on the radio or streamed online. If you are in the US or Canada, you can register your music with a performing rights organization (PRO) such as ASCAP or BMI to ensure you receive proper payment. Other countries have their own PRO’s that serve their local songwriters.
Licensing your music for TV, film & ads
Music licensing involves getting your music placed in TV shows, movies, commercials, and other media. You can either work with a licensing agency or pitch your music directly to companies. It is usually best to work with a reputable sync service that can provide (“solicit”) your music to working music supervisors. They actually prefer listening to music from trusted relationships over people they don’t know. In any case, music sync licensing can be a lucrative way to earn money from your music.
Sell merchandise
Selling merchandise is a great way to supplement your income as a musician, especially if you have a solid fanbase or social media following. Selling merchandise (“merch”) like t-shirts, hats, sweatshirts, and stickers can be a great way to make extra money while also promoting your brand. You can sell merchandise at live shows or through your website using a simple ecommerce plugin or service like Shopify. Bonus idea - streaming platforms like Spotify and Amazon Music allow musicians to link their merch on their profiles.
Crowdfunding
Crowdfunding allows you to raise money from your fans and supporters to fund your music projects or to support going on tour. Platforms like Kickstarter, Indiegogo and Patreon make it easy to set up a campaign and offer rewards in exchange for donations.
Offer music lessons or workshops
If you have expertise in your instrument or music theory, offering music lessons or workshops can be a great way to make extra money. You can offer lessons in person or create online courses or tutorials and sell them on platforms like Udemy or Skillshare. If you are ultra-motivated and have a lot of extra time and patience, you could start a YouTube channel and provide lessons on your channel. When you get enough subscribers and watch time, you can monetize your videos and make steady ad revenue income from YouTube.
In conclusion, there are many ways that musicians can earn money with their music and talents. Earning money as a musician requires a diverse set of skills and strategies. By leveraging your talents and exploring these revenue ideas, you can build a sustainable career in music. Remember to stay focused, stay creative, and always be willing to try new things.