If you're a musician, you've likely heard that music won't pay the bills or you should get a real job. Finding creative ways to earn money with your music lets you prove the naysayers wrong.
Teaching music lessons lets you use your musical skills to make money. Teach for an established music school, hold private lessons virtually or in person, or create an online course. The online route lets you earn passive income after you create the course.
Monetise Through Social Media
Most social media platforms, including TikTok, Instagram, and YouTube, offer monetization programs for users. You can also make money with affiliate marketing and brand partnerships. Create videos of yourself performing your music, or make videos that teach musical skills. You can also monetize a music-related podcast.
If you already have fans, creating a line of merchandise could be a lucrative opportunity. Clothing is a popular option, but you can also create mugs, music accessories, bags, posters, phone cases, and other items. Create an attractive design, and research printing companies to find one with quality products at a price that allows for a profit.
Freelance jobs let you choose how much and when you work to leave time for music gigs. You can choose music-related freelancing, such as promoting musical performances or writing music for commercials. Non-music freelancing can also pay the bills. Options include writing, photography, design, tutoring, and data entry.
As you look into these options, think about what your bigger personal goals are and how freelancing will fit into them. For instance, if you want to be able to purchase a house or get a loan for some sort of investment, potential lenders will look at your debt to income ratio to determine if you’ll be able to pay back the loan. Freelancing can be a great source of income, but it is often treated as very unstable because of its nature.
Royalties from streaming your music online can give you a little side money. Streaming royalties are typically minimal, but they can add up. Explore different platforms to choose the best option, and promote your music in other places to get more streams and downloads.
Live musical performances are ramping up again. Find local venues that have live music, and get yourself booked. You can often sell your merchandise at your performances and accept tips to earn extra money.
Musicians sometimes use crowdfunding platforms to raise money for upcoming projects.
These platforms let fans donate money, often for a specific project, such as a new album. You can include rewards for different donation levels, such as a copy of the album, merchandise, or a local Fort Worth meet and greet with fans.
Update Your Website
Promoting your business, services, and music is more effective with an attractive, professional website. Refresh your website with new photos and a custom logo. Online logo creators make it easy to make a customised logo to use on your website, social media channels, merchandise, and promotional materials for brand consistency.
Start a Business
If you want more control, consider starting a music-related business. Ideas include marketing for musicians, record labels, music-related phone app development, or a music store. Start with a clear business plan that includes a company description, services or products, your chosen business structure, and financial details, such as funding. Let this comprehensive guide on starting a new company be your roadmap to success.
Next, it’s time to get the word out there! A great place to start is with infographics, since they provide you with an opportunity to combine eye-catching images with short lists of information about your business. If you aren’t sure where to start, find a website that offers a variety of editable templates for free. Then, you can share your new infographic via social media sites like Instagram, Twitter, and Facebook to help grow your audience.
Earn Money With Music
Being a musician is certainly a lot different from working in an office or factory. While you face unique challenges, you also have a great deal more freedom. Using your musical talents to upgrade your marketing and earn an income gives you more flexibility to create music on your terms. All it takes is a little planning!
This article was written and kindly submitted by Jennifer Scott.