Making a living off music is no easy feat. But as tools for musicians evolve, there is room for musicians to take control of their art and monetize it, using creativity to grow a business.
Whether you’re a full-time gigging professional or you’re just trying to get some funds together to pay for that next recording, you need to think about making money as a musician.
There are lots of options for musicians to make money, but here we’ll highlight five essential ways:
1. Playing live shows
2. Selling merch
3. Selling music
4. Session work
5. Teaching music lessons
1. Playing live shows
Playing shows has long been the bread and butter of many musicians. In addition to a confidence boost, you get to engage your audience with an experience that’s like no other.
But are you making money from live shows? As best you can, accept the shows that are worth your time and energy. Make sure you’re taking gigs for more than just exposure, and monetize each show as best you can.
If you’re playing cover shows, put out a tip jar. If you’re focussing on originals, organize a house concert to really connect with fans. Be sure to offer merch at your shows, and put out your mailing list signup form. Building long-standing relationships with your fans hinges on the effort you put in.
There are lots of options to make money from live shows, so be sure you’re capitalizing on as many as possible.
2. Selling merch
You might not immediately think of band merch as a lucrative way for musicians to make money. Bandzoogle members have demonstrated that merch is indeed a sizable revenue stream over the last few years.
If you’ve built up a fanbase, no matter the size, you’ll have people who want to support you. And giving them a tangible way to do that–in the form of a t-shirt or mug–means money in your pocket.
You may need to get into a business mindset to sell band merch successfully. While selling merch isn’t as enjoyable as making music, it’s a great way to supplement your income while nurturing that all-important fan connection.
Make sure to offer merch along with any new music releases. Sell merch at your shows as well as from your website. Research what sells well, keeping your audience in mind, and determine if print-on-demand is a good fit for you. Once you’ve started selling merch, keep going with what works well to be sure you’re making money.
3. Selling music
Making money from music can be a touchy subject, especially when it comes to streaming. However, music really is the lifeblood of your career, and since you’re already promoting your music to your fanbase, selling it makes sense.
Think of your music sales as active and passive revenue streams. Active income could come from promoting new albums, new singles, and any music you’re selling at the moment. This is the music you’re actively encouraging fans to buy, perhaps by offering it at a pay-what-you-want pricing, or by crowdfunding ahead of a release.
Passive income from music could be through revenue streams that accumulate over time, like royalty payments, and then other music that you create once and let fans buy into the future: that could be sheet music, instrumental stems, beats, and other file downloads.
4. Session work
If you’re wanting to make money making music from home, session work might be a good bet for you. It’s also something you can do in your spare time, around performing or marketing your own music.
Session work is also a great option for musicians who don’t perform live; you can use the skills you've learned over time to create some really meaningful parts for other bands, or make money by songwriting for others.
If you do offer session work and plan to capitalize on that as a revenue stream, be sure to create a website that highlights your instrumental or vocal skills and ability to record parts. You’ll want to optimize your website SEO to be sure that musicians or sound engineers can find you, and include previous tracks that highlight what you can do. Networking with other musicians is a good way to be sure you get a steady stream of work in this area.
5. Teaching music lessons
Teaching isn’t for everyone, but offering music lessons is another good way to use your professional skills to make money.
Teaching is a rewarding pursuit, and you can do as much or as little as you’d like. Many music teachers turn this into a business and offer lessons full-time as their main revenue stream. Lots of musicians may also teach as a side gig only, allowing for more time and freedom for original music and recordings as well.
As a music teacher, you can also sell music lessons through your website, or offer subscriptions to a weekly lesson or concert (perhaps with a Q&A or learning session as well) - you can get creative here!
Final thoughts
While there are plenty of ways to make money as a musician, it can be a lot to try to tackle everything at once. Remember that your calling is a creative one as well, and try to choose income streams that allow you to express yourself while also staying true to your musical identity.
We hope this list helps you narrow down what you can focus on to make money with your music in a sustainable way!
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