Five Ways to Earn Money From Music

While the age-old lore of starving musicians traveling from city to city in a wonky van to perform in run-down venues carries some magic and nostalgia with it, technology has worked in favor of artists to help them generate considerable revenue more efficiently. 

Yes, part of the grind is playing live events in places that don’t quite resemble Madison Square Gardens, but that doesn’t mean you can’t exponentially increase your reach while on the road to music stardom. It’s all about diversifying your skillset and staying up to date with current apps and trends that do the work of many people while you can focus on your art. 

Here are our top five ways to help boost your income by creating the thing you love most - music. 

Streaming Royalties x Digital Distribution

You’re probably well aware of music streaming platforms such as Spotify and Apple Music. Well, Digital distribution networks tie into these platforms by distributing and collecting royalties from these streaming platforms. Therefore, it’s vital for you to stream your music on the Big 2 (Spotify and Apple), as well as others such as Amazon Music, YouTube Music, and Google Play. In addition, if your talent is geared more towards a specific genre, such as electronic music, add streaming services such as Beatport and JunoDownload to your list. 

Licensing & Publishing Deals

Have you ever watched a commercial or TV show and noticed a particular jingle pique your interest? Those background tracks sometimes come from aspiring musicians like yourself. In fact, some of today’s biggest stars got their start by sharing their talents with television networks. It doesn’t have to be a complete career change, but licensing and publishing deals can help an artist earn decent royalties and cover necessary expenses such as traveling, instrument tune-up, and studio time. 

Work with Other Bands 

Have a knack for an instrument and want to collaborate with others? In that case, you might be the missing piece that other bands are looking for, even for a temporary period and as a session musician, showing that you have the skills to work with others when creating or performing shows an elevated level of professionalism. It can open many doors and lead to new opportunities, ultimately earning you more revenue. Remember, a gig as a session musician doesn’t mean you have to sacrifice your individual dreams. Instead, it can help bridge the final gap until you reach your goal.

Merch

Just because your music hasn’t gone double-platinum yet doesn’t mean you can’t start building your brand today. With proper sourcing, you can generate reasonably cheap merchandise and bring it with you to sell at your live gigs. You’d be surprised at the number of people willing to support up-and-coming artists by purchasing t-shirts, keychains, hats, pins, and anything else you think your band logo might fit. Look at it as another way to advertise who you are to the world. 

Teaching

There’s no better gift than the gift of giving - and in the music industry, you can profit from your gift by offering paid lessons to others. If you’re at an advanced level playing an instrument or in vocals and can connect with others, consider opening some time throughout the week to take on students. Not only can you generate revenue in doing so, but you can also put some money in your pocket for expenses. 

Now that you know how to put some extra money in your pocket don’t waste another second! Instead, put your talents to work for you as you make your way to the top of the music industry.