How to Make Money as a Musician!
We’ll teach you about every stream of revenue available to musicians!
First and foremost, make sure you have all of your music registered with a PRO. In order to receive the money you may be owed, all songs you’ve written must be registered with a PRO like BMI or ASCAP, and sound recordings must be registered with a service like SoundExchange. With these two steps taken care of, you will be able to earn royalties for your music.
Now that you’re able to earn money through royalties, the next best way to keep the cash flowing is to monetize your Youtube and social media videos. Every time your music is used in a video, whether on your channel or someone else’s, you’re entitled to any ad revenue generated. Many digital distribution companies can help ensure you get the money you deserve.
With these sources bringing in your revenue, a more fun way of making money is playing gigs. While these may be few and far between during COVID, the world is beginning to open up again and you can finally get back to performing. You can find gigs through websites like ReverbNation Gig Finder. These events do tend to be more corporate, so finding local venues through networking is just as important. If you plan on sending emails to different venues or industry professionals, an Electronic Press Kit will be extremely helpful. You can create an EPK through Canva, Adobe Spark, and Shopify’s Press Kit Builder. An EPK will definitely boost your overall professional aura. For the time being, online concerts can also be profitable. If you haven’t read our post about online concerts, head there to learn about monetizing your music live streams.
Lastly, selling merchandise through an online shop can be both fun and profitable. If you aren’t ready to deal with ordering and shipping items yourself, a site such as Redbubble allows you to upload designs, then prints and ships for you when there’s an order. For bands who are ready to take a bigger step into merchandising, an online shop builder like Shopify allows you to create an online store; however, you will be in charge of making products and shipping them.
We hope you find these tips helpful, and let us know if you use any in the comments section!