If you are passionate about music, you will want to learn how to make a living as a musician. But there are no guarantees when selling your music. Many musicians don’t believe the risk of making a successful music career is worth it.
It is not easy making money with music, but it is possible. In 2020, musicians can reduce risk and pursue their dreams by creating diverse automated revenue streams. In addition, a top-notch resume and cover letter can greatly help while pursuing your career. So, reach out to professional resume writers and let them do the job for you.
How to make money in the music business
- Get streaming royalties via digital distribution
- Earn money by playing gigs
- Buy band merchandise online
- Work with other musicians
- Samples and beats
- Offer lessons and teach music classes.
It’s important to have multiple income streams in the beginning stages of your music career is important. However, a single income stream will unlikely bring in enough money to support you and your music career. So let’s look at the most popular revenue streams musicians monetize music.
- Digital distribution can earn you streaming royalties.
It is important to know the difference between streaming services and distribution networks.
- A streaming platform allows people to listen to their music. Spotify and Apple Music are the most popular.
- A distribution network collects royalties from streaming services.
When it comes to streaming services, musicians don’t have much choice. Even the most famous artists are not protected from backlash if they remove their music from streaming services.
You should stream your work to Spotify and Apple Music, the largest and most widely available streaming services. In addition, Google Play, Amazon Music, and YouTube Music are all popular streaming services. There are also genre-specific streaming services, such as BeatPort and JunoDownload, that cater to fans and producers of electronic music.
How do you find the right distribution network?
Distribution networks can send your music to most major streaming platforms. However, there are differences in the services distribution networks offer their prices and the royalty payments they pay. These are all things to be aware of when looking for a distribution service.
Let’s look at some of the most common distribution networks.
- Landr
Prices: Plans start at $4/month.
The pros: It allows you to access all the major streaming services. It also pays 100% of streaming royalties directly to the artist. This makes it one of the most affordable options.
Cons: Intrusive advertisements for Landr’s flagship product and its mastering program can be irritating, especially if the producer is experienced and does not need it.
- TuneCore
Prices: Plans start from $9.99/year per single.
The Pros: It provides tools for artists to promote and sell their music. Artist also receives 100% of streaming royalty payments.
Cons: Confusing pricing structure. You are charged per song, so there is a greater chance of paying more than you take in.
- CD Baby
Prices: Plans start at $9.95 per month.
Features: You can sell physical copies of your music and digital downloads.
Cons: You have to pay a lower percentage of streaming royalty payments to the artist than other services, -91%
- Amuse
Price: Free
Pros: Most affordable. It is very easy to use and great for small artists. You also can be discovered by Amuse as a record label. In addition, the artist receives 100% of streaming royalty payments.
Cons: Works only via a mobile application without a desktop version. Other services offer more features than these.
- Play gigs and make money
Live performances are one of the best ways musicians can make money. Although it is possible to stream live music, nothing can compare to seeing your favorite artist perform live.
How to Find Paid Jobs for Musicians
It’s a great way to make money and build an audience. Social media fans are less valuable than gig fans regarding how beneficial they can be to your music career. They’ve shown themselves willing to pay to see live music.
If you don’t have a tour bus, you will need to find local venues that are good for live music. You can do this using gig-booking websites and apps like ReverbNation’s Gig Finder.
These gig-booking platforms and sites are easier to use, so many shows are corporate events that target a wider audience. Although these performances can be extremely lucrative, they are less effective in building a sustainable audience.
You want to establish relationships with local venues within your “scene” over the long term. This is where your networking skills come in handy. Begin small and look for venues that will accept new acts.
Making an electronic press kit
You can reach out to venues and request an electronic press kit (sometimes called “EPK,” “promotional pack,” or “press kit”).
An EPK is a digital repository of documents, videos, and images. To give a quick overview of your brand, venues use EPKs.
What should you include in your electronic press kits:
- Spotify and Apple Music links to your songs
- Professional, high-resolution photography
- These are links to your social media profiles
- A short bio about your band, similar to the About Us page
- If you have music videos or other media,
- Review or press quotes
- Contact information
- Online selling of band merchandise
Band merchandise sales are a great way to make extra income while still being a musician. You can earn income while still writing music and maintaining a fully-automated merch shop.
Are you ready to create your own merch business? Shopify’s tools allow musicians to connect with fans and monetize their passion.
How do you sell band merchandise online?
Shopify and Print on Demand make it easy to set up an automated merchandise shop in minutes. First, decide what products you want. Of course, bands must have T-shirts, but printing-on-demand companies offer a variety of products, from water bottles to canvas bags and home decor products such as pillows, to a wide range.
- Design your designs: It’s simple to create unique designs for your band and have them printed on merchandise.
- Create your Shopify store: Sign up for your Shopify trial to get started and create your store. We have many resources to help you get started if you’ve never made a Shopify Store.
- Automate using a print-on-demand app: You can outsource manufacturing, shipping, and logistics to third-party companies with print-on-demand apps. In addition, you don’t have to pay for the products until print-on-demand firms sell them.
Once you have set up your products and store, you must close the door. Print-on-demand companies handle printing and shipping and are paid a percentage of your sales.
- Collaborate with other musicians and brands
Many musicians earn extra income through side gigs. However, there are many ways to make money from collaboration, depending on the type of music you produce and your musical skills. For example, many producers and vocalists are on freelancing sites such as Upwork and Twine. You can also find other musicians through a variety of platforms and apps.
- Samples and beats to sell
Producers can make money online by selling samples and beatings as digital goods. This can be a major source of income for some producers. You can make music by selling samples and beats, which is the main benefit.
How to sell your beats online
- Mixing, mastering, and production. Performers who purchase your beats will demand a high level of technical quality. You cannot do it in an hour if you have never made beats.
- Licensing. Performers who purchase beats from us buy a license to use the beat in their music. There are many licenses, so understand the rights you give away when you sell your beat.
- Marketing. Although there are many places to license beats, performers tend to be very specific about what they want. Therefore, your ability to identify a niche market and establish a reputation online is key to selling beats online.
- You can teach music lessons or make sales
Not all musicians want to be global superstars. Instead, some musicians find training the next generation is more rewarding than performing at the Super Bowl halftime show.
LectureOwl offers a way to train others and is a great place for you to apply to become a private music teacher. In addition, various online learning platforms allow you to create music courses.
Where can I find teaching jobs for musicians
- LectureOwl
- Skillshare
- Teachable
- Podia
- Thinking
- Udemy
How to start music marketing
It’s great to sell merch and play shows, but without an audience, you won’t be able to make any money. It is equally important to understand how to market your music and how you can profit from it. Let’s take a look at the basics of online marketing for your music.
Social media followers are important.
It is important that fans and venues can find you online easily. Although streaming services can be great for linking your music, having a profile on Spotify is not enough. Your social media profile is crucial.
Start small and focus on growing your social media audience. You can then shift your focus to getting them out on shows.
You can do a deep dive into social media strategy, but there are some things you should keep in mind when you build your profiles.
- Instead of driving ticket and merchandise sales, focus on building your audience.
- Followers should be kept informed about new merchandise and live shows. But, most importantly, keep them informed about you.
- You can show off your talents by sharing new songs, works in progress, or performing live via stream.
- Engage with musicians, brands, bloggers, and other people in your scene by following their profiles, tagging, and commenting on their posts.
- Interacting with your fans is a priority. Building personal connections with them will increase brand awareness more than anything else.
Send your work to music blogs
Music blogs are great for targeting specific niches. You can also find fans nearby, which is a great way to get them to your shows.
Here’s how:
- Select the right blog. Make sure to familiarize yourself with the blog.
- Be sure to follow the submission guidelines. Some blogs have automated systems that will reject submissions that don’t conform to certain criteria.
- Provide contact information. Less work required by the blog to locate you will make it less likely that they will follow up.
Keep your electronic press kit prepared. You might be asked for this during your initial submissions or follow-up correspondence.
Subscribe to streaming playlists
Many streaming services offer algorithmic recommendations or playlists. Unfortunately, every streaming service is different, so optimizing your stream may require a unique set of rules.
Apple Music and Spotify are two of the most popular streaming services. However, they offer greater reach, so optimizing for them is crucial.
Music can make you money
It’s very rare for musicians to receive revenue from one source in the 2020s. So it’s about creating various revenue streams that can be easily managed so you can concentrate on the most important thing: making music.
Diversifying your income streams is key to managing risk. If you don’t have enough revenue streams, it won’t pay off to invest a lot of money in your music career. Understanding how to create these revenue streams will allow you to focus on what is most important: making great music.
