Ways to Make Money in The Music Industry
February 02, 2023
The music industry is a vast and ever-changing landscape with many opportunities for musicians to make a living. Here are 15 ways that musicians can earn money in the industry:
- Live performances: Playing live shows is one of the most traditional ways for musicians to earn money. It can include everything from playing at local bars and clubs to performing at large festivals and concerts.
- Record sales: Selling physical copies of your music, such as CDs and vinyl records, is still a viable way to earn money in the industry. With the rise of streaming services, many musicians also make money through digital music sales.
- Streaming royalties: As streaming becomes increasingly popular, many musicians are turning to platforms like Spotify, Apple Music, Bliiink, and YouTube to earn money from streaming royalties. Bliiink provides artists with a fairer and more lucrative revenue model alternative. So artists receive up to 70% of the subscription fees, which is much higher when compared to the standard industry rate.
- Merchandise: Musicians can earn money by selling merchandise, such as t-shirts, hats, and other items, with their band’s logo or image.
- Music lessons: Musicians can earn money by teaching others how to play an instrument or sing.
- Session work: Musicians can earn money by performing as session players for other artists or bands or recording session work for commercials, TV shows, or movies.
- Composing and producing: Musicians can earn money by composing and producing music for other artists, TV shows, movies, and video games.
- Music licensing: Musicians can earn money by licensing their music for use in various media, such as TV shows, movies, and commercials.
- Music publishing: Musicians can earn money by publishing their songs and getting them placed in various forms of media.
- Crowdfunding: Musicians can use platforms like Kickstarter and Patreon to fund their projects and earn money from their fans.
- YouTube: Musicians can earn money by creating and uploading videos to YouTube and monetizing them through ads, sponsorships, and merchandise sales.
- Podcasting: Musicians can start a podcast and monetize it through sponsorships, ads, and merchandise sales.
- Social media: Musicians can use social media platforms to promote their music and earn money through sponsorships, ads, and merchandise sales.
- Sound design: Musicians can create sound effects and soundscapes for video games, movies, and TV shows and earn money from them.
- Sync licensing: Musicians can earn money by licensing their music to be used in TV shows, movies, and commercials.
These are just a few of the many ways that musicians can earn money in the industry. With hard work, creativity, and determination, the possibilities are endless. Each method will require different skills and experience, but many opportunities are available for those willing to put in the work. It’s important to note that you can combine methods. There are many other ways to make money in the music industry. The best way to succeed is to have a clear understanding of what you want to achieve and be creative in finding ways to make it happen.