One of the biggest obstacles musicians face is a lack of funding. No longer can a band make a living just by selling songs and touring.
Today’s musician has to put more effort into finding other sources of income. Despite the current decline in record sales, artists have access to other sources of income.
Today’s musicians can make a career using both conventional and innovative methods.
16 Ways a Musician Can Make a Living
1. CD Distribution
If you want to perform live, you should bring some of your CDs with you. Signed CDs are wonderful mementos that band members may sign.
2. Vinyl Sales
In 2013, vinyl sales were up 30%. Again, if you will be performing, bring a little quantity. This will enable you to create more revenue.
3. Internet Sales
To increase your revenue, you may sell music on your website. Online sellers have also not been terminated. Remember that they take a cut of the sales. (iTunes 30%, Bandcamp 15%).
The payments from streaming may be modest, but they may accumulate over time. This will also assist in attracting new listeners to your music. Consider it as more than a source of money.
5. Live Performances
Live performances are still the most lucrative method to generate revenue.
6. Selling Band Memorabilia
The money from selling merchandise is proportional to the number of performances performed. Check to see whether you have T-shirts and smaller gifts to offer to fans after the concert when you go on tour.
7. Digital Content
Additionally, you may sell digital products to your audience. This may include gorgeous PDF files with your biography and lyrics; videos of live performances; sheet music and chords for your songs; unique images; and more.
Crowdfunding may be an excellent source of revenue for a musician’s career. A successful crowdfunding campaign may help defray the cost of developing and marketing an album.
9. Compensation for Usage of Music
To earn royalties for the usage of your music, membership in lobbying groups is required. This includes getting paid when your music is used on radio, TV, live events, streaming platforms, ads, movies, and other places.
10. Digital Payments
Royalties must be paid whenever your music is aired on Internet radio stations.
If your music is used in a movie, commercial, or television program, you will likely be compensated for a license. The revenue depends on the project’s budget and how much they want to use your music.
YouTube is the 12th most visited website on the Internet. When your music is used in a YouTube video, the owners of the song can get a cut of the money made from ads.
Some corporations may offer to sponsor you to market their goods to your audience if you have a huge fan following. Sponsorship may either be monetary or consist of free goods, services, or services.
13. Working as a Session Musician
Becoming a session musician is another option to earn money. You may perform in the studio for other musical projects or even for advertisements.
If you compose your music, you might make songs for other performers or compose music for movies or television.
15. Performing Other People’s Music
Covering songs at bars, restaurants, weddings, and other settings may be a lucrative way to earn money. A number of musicians disapprove of this. But earning money doing what you like is not disgraceful and is acceptable.
16. Music Lessons
Many artists provide music lessons to supplement their income.
Test It Out and Determine What Works
- These resources allow you to make more money.
- Try everything and determine what works best.