Making Money As A Musician - Some Creative Strategies
Are you a passionate, self driven, hard working and talented musician? Are you proud of your asset may be your song, your tune or your band? Have you ever faced the challenges of paying rent or grocery bill ? Do your parents, friends or relatives give you beef that career in music is impractical and will lead to financial insecurity?Do you ever think of switching to DAY JOB ? All these questions keep you on tenterhooks.
There is no denying the fact that it is very challenging for a non famous/Amateur musician to generate revenue. Also you need to turn those intangibles into hard cash .you cannot pay through passions and dreams.
Remember success is no accident. It is the hardwork, perseverance & love of what you are doing or learning to do. Your attitude matters, if you think Lady Luck will smile upon you in an instant you are mistaken .You need to have DOUGH MAKING attitude of which patience is essential component,
You have a lot better chance at making money from your music if you focus on what you CAN do, rather than what you CAN’T do. Having a strong work ethic, you can take the right actions that are needed to build a lucrative career.
Initially you can start by trying a few of these ways to earn money from your musical talents.
1. Be a Karaoke Host. I
2. Try Busking. ...
3. Be a DJ....
4. Play at Bars...
5. Do Event Gigs.
6. Sing in Church. ..
7. Sell Your CDs in the Street..
The problem with all of the above is that musicians who do it tend not to get a lot of respect from music reviewers or other musicians A mix of traditional and more modern income streams can help todays musicians earn a living.
Solution? Exploit the Internet !!!
What Social media does is make your name and brand known, and if that results in more fans, it can result in more record sales. Many of today’s music stars got their start by getting discovered on YouTube.
Streaming: Although per-stream payouts from streaming services tend to be small, they can add up over time. Keep in mind that these services also help new fans discover your music, and shouldn't be seen solely as an income generator.
Start a YouTube Channel On YouTube, whenever your music is used in videos that are running ads, YouTube pays a portion of that advertising money to the rights holders of the song. Digital distributors like TuneCore and CD Baby can help you collect that money, as well as Audiam.
Four Ways YouTube Pays
1) A royalty for the sound recording owner (Audio/Master) collected by your distributor (CDBaby/Tunecore/etc)
2) A royalty for the content owner (Visual) collected by your Admin Co.
3) A performance royalty for the public broadcast of the song (Performance) collected by your PRO
4) A mechanical royalty for the interactive stream of the song (Composition/Publishing) collected by your Admin Co.
Dehradun Girl Shraddha Sharma's Musical Career Started with Youtube
InStore Media Play
You can license your music directly with the few global Instore Media Play companies like Mood Media, PlayNetwork, or ScreenPlay. When you go in a clothing store, elevator, or restaurant and you hear music, it is licensed by one of these companies.
Put Your Music on Spotify
Spotify is a streaming music platform that lets people listen to music for free or upgrade to paid subscriptions. Artists get paid according to a somewhat complex formula. Spotify explains that they take 30% of revenue and distribute the remaining 70% as royalties to “publishers,” who then pay artists according to their agreements.
If you put your music on Spotify using an “artist aggregator,” service you keep 100% of your royalties, but pay a fee to the aggregator service.
Raise Money on Patreon
Patreon has a different model . Instead of soliciting pledges for a one-time project, you get “patrons” who offer to regularly fund you according to some criteria.
For example, one might pledge to give you $10 every time you produce a new song. You offer your patrons rewards like free downloads of your songs, the chance to hang out with you online, or at least regular reports on the progress they're helping to make possible.
Your ability to make a living as a musician depends a lot on your ability to promote your music. You've to make sure people know about your music, where they can get it when you are playing and so on.
Offer Best Stuff - Affiliate Marketing
If your target fans are 16 years olds, that means every day there are 300,000 new potential fans for your band. Think of them when you release content. Because every day you have a chance to put your best songs, best photos, best product out there for people to make a choice. Review your material, photos, images, from time to time.
You can join affiliate programs like Amazon affiliate and start promoting products relating to music in your youtube videos. Giving an affiliate link in description gets you a chance of earning affiliate commission if the user buys through that link within 24 hours. There are a lot of affiliate marketing providers like CJ Affiliate, Flipkart etc where you can surely find something useful to promote.
Think about traffic as anybody searching for something and being directed to consume your music. Examples are Google Search, your website, Facebook, Pandora, YouTube, Instagram, Twitter, etc. Make sure to have an easy to find link to Spotify, Apple, Amazon, YouTube in all of these places when a potential fan encounters them.
Abraham Lincoln has said“If asked to chop down a cherry tree in four hours; I would spend three hours sharpening the ax and one hour cutting down the tree.” Apply this to your money making ventures.
The crux of the matter is don’t give in .There are obstacles today, but there were different obstacles before now, and different obstacles before that. It’s not up to the “state of the music business” to decide for you whether you can make money as a music artist. It never has been. It’s always been up to you. And it still is.
"SUCCESS COMES TO THOSE WHO BELIEVE IN THE BEAUTY OF THEIR DREAMS"