The music industry is certainly changing–but, contrary to popular belief, the internet has not killed the dream of “making it” as a musician. Quite the contrary–it has opened up new opportunities for income while helping musicians gain increased exposure that benefits them both online and in the real world. Here are nine ways to make money as a musician in the modern world.
- CD sales are an important source of income for most bands–not to mention the best way to insure that fans continue listening to and enjoying your music. Don’t forget that vinyl is making a comeback–seeing rising sales for several years in a row. Printing a few vinyl copies of your latest album may be a good investment.
- Digital sales represent a growing portion of music sales, so be sure to invest in your online presence in a wide variety of mediums.
- Online streaming can bring in some income in and of itself, but it is just as valuable for the exposure that it grants you. Streaming now could lead to sales tomorrow.
- Live shows frequently offer a nice little payday–and they offer an excellent opportunity to sell CD’s and merch. Moreover, live shows offer excellent exposure that forms a real, personal connection.
- Merchandise sales can add up, so don’t forget to promote at every show and online.
- Crowdfunding is great for funding specific projects, such as a new album or a tour.
- Licensing refers to the practice of selling the right to use your music (oftentimes in movies, in advertisements, etc.) This can be quite lucrative, while also exposing your band to new audiences around the world.
- Sponsorship is an option for bands of all stripes and colors–it could be as simple as getting some free gear, or it could even include a cash payment.
- “Contract” Work, i.e. playing for another band in a studio or on tour, or ghostwriting, is another great way to forge connections in the industry while making a solid income.
To learn more about your options as a musician, visit the RightsIn online marketplace today!