Most fledgling musicians dream of the money and fame that can come along with their success. Most of them feel that if they focus on creating good musical content and developing their craft, everything else will come along naturally. However, musicians too often neglect the business aspect of the industry. If you want build a professional career as a musician, you need to know how to make money to support a stable lifestyle.
Like most businesses, yours will most likely not be profitable right away. It takes time to grow and develop any business, regardless of the initial funds and resources. In order to make money from music, you will need to network and market your music in an efficient manner.
- Sell your music online. One of the best ways to sell your music directly is to sell it online. The internet and social media have completely changed the marketing world. Social media allows you to deliver information about your music and upcoming projects directly to your fan base. Your music website, Facebook, Instagram, Twitter and other social media accounts are commonly the first place people will go to listen to your songs. Having your music on renowned streaming and download platforms such as Spotify and Apple Music will only help you grow your audience.
- Show money. With all of the free music services available online, many people are not as willing to purchase music like they were in the past. For artists, this places greater importance on alternative revenue streams, such as money earned from playing shows. Emerging artists often need to play a few poorly paid or unpaid shows and gain a following before you are able to get paid for your stage time.
- Merchandise. In an industry all too regularly filled with unpaid and poorly paid gigs, increase your revenue from each performance by selling merchandise. Further still, set up an online store to ensure you have a more continual revenue stream. CDs, wristbands, badges, posters and stickers are among the more popular items. But clothing and other wearable items undoubtably represent the best form of merchandise. As an upcoming artist looking to garner as much publicity as possible, a fan paying you to advertise your music is certainly promotional and revenue generating avenue. Websites like Fiverr and Upwork are great for finding designers that can create affordable t-shirts, posters, album covers, and other designs that you can sell to your fans.
- Get licensing and publishing deals. Some of your favourite artists have created background music for commercials, televisions, movies, and radio. Contributing your music to various media outlets can help you profit from royalties. Landing yourself a sync deal could bring you a tidy amount of cash. Websites, such as Sentric Music, make it extremely easy to promote your work to businesses looking for soundtracks.
- Create a music blog or website. By sharing your experiences of the music industry, you can help others follow their dream as well. Blogging about what you have learned could serve as a helpful resource to others musicians. Starting an independent music blog is a great way to indirectly build your fanbase. You can also profit from product promotions and by placing ads on your website.
- Become a session musician. Offering your musical talents for live performances and recording sessions can help you gain additional revenue (and build your network of useful contacts in the music industry). Post a classified advert on Musician Go to advertise your services and start finding session work today!
If you’ve got any tips, feel free to add them in the comments below.