Start Making Money With Your Music
For musicians in the 2020s, its rare to collect revenue from a single source. Being able to fund your music career is about constructing a system of diverse revenue streams that are easily manageable so you can focus on whats most important: making music.;
Managing risk is all about how well you diversify. Dumping tons of money into your music career isnt going to pay off if you dont have enough revenue streams. But by understanding how you create those protective streams, you can focus on the most important thing: making kickass music.
;Ilustration by Pete Ryan
Sell Music Through Your Website
If you dont already have one, you should build a website for your music. It gives you a little slice of the internet that you own and control, and you can also sell music directly to your fans .;
But more than that, you will own the data and emails you collect through it. This is essential to have long-term success in your career, as you can use that data to let your fans know about new music, upcoming tours, crowdfunding campaigns, and more.
Check out: The complete guide to selling your music online
Make Your Music Available For Streaming
These days, the vast majority of listening is happening on major streaming platforms like Spotify, Apple Music, Google Play, and Amazon Music. This means that making your songs available on them is essential to reach your current fans, as well as potential new fans.
We have a long way to go before streaming revenue replaces the money that artists used to make selling physical albums, but the business is growing every year, and its income you dont want to miss out on collecting.;
Once you distribute your music to these platforms, you can boost your stream count with tactics like pre-save campaigns, audio ads, and playlist features.
Artist: Bandzoogle members Warbringer
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Take Advantage Of Pandora Amp
AMP offers a new way to connect with your fans on the Pandora platform.
The first step, of course, is to submit your music to Pandora. Unfortunately, not all music is accepted, so theres not much you can do if you are rejected besides trying again with another release.
If youre on Pandora, then you can set up your AMP profile and begin creating messages for your fans to listen to. You can promote just about whatever you want, including music, shows, merch and anything else you can think of.
The great thing about AMP is it can also help you gain insights into your audience. This type of data is always helpful when it comes to crafting effect messages and ad targeting.
If you consider Pandora an important part of your online strategy, then you should give AMP a try.
Websites Where You Can Make Money By Listening To Music
Did you know you can make money by listening to music and writing reviews about it? Among the many ways of earning money online, listening to music is one of them. Just by signing up for the websites mentioned in this guide, you can boost your pocket money by a good margin.
Why do these websites pay you? Such websites pay users so that they can review the music of new and upcoming singers and songwriters. These websites require feedback from a wide range of people to help musical artists find the direction they need for their songs.
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Creating An Electronic Press Kit
When you start reaching out to venues, theres a chance they may ask for an electronic press kit .;;
An EPK is a digital collection of documents, videos, images, and, of course, your music. Venues use EPKs to get a quick overview of your brand. You can create a press kit using design tools like Canva, Adobe Spark, or the PressKitBuilder.
What to include in your electronic press kit:
- Links to your songs on Spotify and Apple Music
How Much Does Spotify Pay Per Stream Streaming Payouts Comparison
In the last decade, many platforms have emerged where you can listen to music, such as Spotify, Apple Music, Tidal, Deezer, YouTube Music, SoundCloud, or Pandora. Spotify is one of the most known in the music industry. Nowadays, many artists make money thanks to these music streaming platforms. Especially now that there are almost no live shows due to the pandemic, these streaming revenues are extra significant. But how much money does an artist actually make on Spotify streams? And how much does Spotify pay per stream? Read further to find out.
Streaming platforms are at the center of the music industry. However, while promising local artists will earn not so much through streaming, an international superstar will make a million times as much. TL;DR
- Spotify pays less than a cent: about $0.003 to $0.0084 per stream, with an average payout of $0.004 per stream.
- How much you will earn depends on many factors. For example, not every country pays the same amount. It also depends on the distribution contract you have or whether your music is streamed by users with a Free or Premium plan.
- To earn more money, an artists should be present on multiple music streaming platforms. Plus, being featured on playlists can significantly increase the number of streams.
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Stay Authentic And Accessible
Be authentic and do the work. Purchasing views, followers and social stats of any kind will only serve to discredit you. In fact, fraudulent activity could even get you banned from publishers and publishing partners due to the fact that your actions can impact many other related parties.
Increase your credibility by clearly listing your contact information on all your videos . If people want to offer you deals, tour slots or juicy collaborations, make sure its easy for people to find you.
Run A Crowdfunding Campaign
Crowdfunding can be a great way to generate the revenue you need to cover the costs of producing and marketing your album. But crowdfunding shouldnt be treated simply as a way to make money.;
With crowdfunding, its all about making a connection with your biggest fans. Bring them along the creative journey with you, from songwriting, recording, to the release of your album. Communication and creativity are key, and with proper planning, the money will follow.
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What Constitutes A Stream In Music
Streaming is one of the most popular ways to listen to music today. A stream is completed when a song is played through an online platform, rather than on an individual listening device.
Streaming has grown in popularity as it does not require users to download the media they want to enjoy, which saves storage space on computers and mobile devices. Streaming is also popular in video services like YouTube and Netflix.
Music Streaming Services Explained: How Does Spotify Make Money
Spotify is the world’s biggest music streaming service, but how does it actually make money and pay artists?
Spotify is arguably the worlds largest music streaming service. You either pay for Spotify with a premium plan, or you dont. There is the Student Plan where you pay less, a Family Plan where someone else pays, or the free option, where you stream with ad breaks in between your music.
If there are so many users who stream on Spotify without paying, how does Spotify, and the artists who are on the platform, make money?
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Create A Release Strategy
There are so many ways of going about this. And yet, its astounding the number of artists who dont have a release strategy. They just wing it most of the time.
It doesnt need to be anything complicated. But you should be thinking about how youre going to get your music out into the world and the exact steps youre going to be taking.
For instance, you could release a single on streaming platforms before releasing your full album. That way, your fans would have no choice but to listen to it on their favorite streaming app. If they like the single, you should get a good number of plays. A month later, you could come out with the full album on CD . Again, if your fans enjoyed the single, now they have no choice but to buy the album because its not available on Spotify or Apple Music. Finally, six months later , you make it available on streaming sites in anticipation for another round of streams.
This is just an example of what you could do. There are plenty of other viable release strategies. The point is to have one that helps you build the biggest momentum and get more plays.
How To Sell Band Merch Online
With Shopify and , you can set up a fully automated merchandise store in minutes. Start by deciding what products you want to sell. T-shirts are a must for bands, but print-on-demand companies offer a wide range of products, from water bottles to canvas bags to home decor products like pillows:
This means that once youve set-up your store and products, you dont have to do anything else. The print-on-demand company handles printing and shipping and is paid via a cut of your sales.;
How to quickly start a profitable print-on-demand store
In our free 40-minute video workshop, we’ll get you from product idea, to setting up an online store, to getting your first print-on-demand sale.
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Monetize Your Facebook And Instagram Videos
A lot of musicians dont realize that they can earn money when their music is used in videos on Facebook and Instagram, just like on YouTube. You can even get paid when people use your songs in their Instagram Stories.
Check with your digital distribution company to make sure they offer social video monetization.
How To Make Money With Music
In the early stages of your music career, its crucial to have multiple revenue streams. Without the backing of a major record label, any single stream is unlikely to generate enough income for you to earn a living.;
But operating together, a number of automated revenue streams can help you mitigate risk and focus on making music, rather than selling it.;
Lets go over the most common revenue streams artists use to monetize their music:
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Music Streaming Services And Spotify
Unless you have been living under a rock, music streaming services have become the main way in which we consume and enjoy music, and it is slowly, but surely, taking over the physical music sales market like CDs and vinyl records.
Currently, Spotify dominates the music streaming industry, followed by Apple Music, Amazon Music, Tidal, and YouTube Music. These little-known music streaming platforms are also great choices for many audiophiles;and growing in popularity.
What each service offers seems similar, so how did Spotify manage to beat out its competitors to maintain its dominance and make money in the process?
Submit Your Work To Music Blogs
Music blogs exist for all kinds of genres and are a great way to target a specific niche. They can also be local, which is additionally good for finding fans who will come to your shows.;
Many music blogs allow open submissions, but keep in mind that any blog with open submissions needs to wade through a lot of bad ones. This means you need to stand out.
- Choose the right blog. Music blogs can cater to specific genres, so make sure youve familiarized yourself with the blog and that your music is a good fit.;
- Follow the submission guidelines closely. Many blogs use automated systems that will filter out your submission if it doesnt adhere to specifics.
- Include contact details. The more work the blog has to do to find you the less likely they will be to follow up.;
Have your electronic press kit ready. You may be asked to attach this in your initial submission or in follow-up correspondence, so have it ready.
There are lots of blogs that accept open submissions from unsigned artists, but weve put together a list of some of the more popular ones. Keep in mind that many music blogs are genre-specific, so not every blog on this list will be a good fit for your music.;
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Monetize Your Youtube Channel
How can a hardworking musician get their hands on some of that sweet, sweet YouTube money? The first and easiest step is to upload all your music to your channel. From there, you need to build up your subscribers and set up YouTube monetization on your account.;
Anytime music you own is used in a YouTube video whether on your own channel or someone elses ;youre entitled to collect your fair share of the ad revenue generated by it. A digital distribution company such as CD Baby will help ensure that all the money youre owed ends up in your bank account.
Sell Beats And Samples
If youre a producer, one common way to make money online is by selling samples and beats as digital products. For some producers, this can even become their primary form of income. Selling samples and beats allows you to spend work hours making music, which is the primary benefit.;
What to know about selling your beats online
- Mixing and mastering. Performers purchasing your beats will expect a level of technical quality. If youve never produced beats before, its not something you can pick up in an afternoon.
- Licensing. When performers purchase beats from you, theyre actually purchasing a license to use that beat in their music. There are many types of licenses, so make sure you understand what rights youre giving up when selling your beat.;
- There are a ton of places to find beats to license, but performers tend to be very picky about what theyre looking for. This means that successfully selling beats online will be very dependent on your ability to find a niche and build a reputation on social media.;
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Here Are Some Examples Of How Some Platforms Are Grappling With This:
- YouTube offers a channel membership scheme in which users can subscribe to channels for a monthly fee. You are required to be a member of the YouTube Partner Program and meet additional eligibility criteria for this opportunity.
- Whether you are an Affiliate or Partner, Twitch has a premium subscription service that helps you to benefit from paid subscriptions. Twitch Prime subscribers receive one free subscription, and others can be purchased via Amazon Pay, PayPal, or credit cards.
- A subscription service for Facebook Gaming is in the works.
- With subscriptions, Mixer has a Partner Payments service that allows users to set up payments with cards or PayPal.
You can make content accessible to your users if the platform you are using allows it. This is a great way to thank your most devoted viewers for their continued support. Often, remember to thank all who subscribed and maybe even mention them on their subscription anniversary.
Streamers Earn Through Sponsorships
Twitch streamers can potentially make money from sponsorships through third-party companies. While streaming platforms do not set these up, there are programs out there that can help. Two sites that match sponsors and streamers are;PowerSpike;and;HelloGamers. You can also meet with agents at conventions or network with them through their companies.
Sponsorships will generally look like one of the following:
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Nerships & Paid Appearances
Each year commercial brands pay billions of dollars to musicians and music rights owners. It requires working with somebody that has relationships with brands , advertising agencies , personal managers and agents of celebrities, and film and tv. They can leverage these relationships to foster brand partnerships that pay you. Often called a tie up. Sometimes its just playing a company party and getting a fee for that.