In this post, I will show you how to make money from music and any musician can use these little-known tips right now to earn money from his/her music today.
With more performers gaining notoriety, the music industry is one of the biggest in the world, comparable to the film industry.
The problem then becomes how to make money out of music as most musicians don't just sing for the love of it and this may be a difficult road for those just starting out.
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Additionally, the process of becoming well-known as a musician might be intimidating when you consider the need for a rehearsal space, a personal website, photography, distribution, and many other things.
However, there are still ways for you to succeed as an established artist or an up-and-coming one. Carry it out!
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How to make money with music
- Through Distribution Deals
- Through the Monetization of Facebook & Instagram Music
- Through Paid Appearances
- Through Youtube
- Through Collaborations with Musicians/Brands
- Through Performance Royalties
- Through Streaming
- Through Events/Ticket Sales
- Online Live Shows
- Government-Sponsored Events
1. Through Distribution Deals
As it connects the performer with the record label, this tactic puts you in control.Independent musicians are better off making money this way because they may either manage their own record label or let the distribution company do it. There are two approaches to distribution agreements:
- It is either the digital or physical content of your music to a distribution company to help promote and market the music.
- The second option is that you take care of the production,
marketing, and distribution of the music. This option is risky and so I
will advise you to opt for the first option.
Note: Distribution deals are different from record deals.
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From the cost of recording through your events, marketing, promotion, and music distribution, all of your costs are covered.
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Some even go to the extent of taking care of your basic needs like accommodation but it’s not free as you think.
Now, the pattern of payment comes in two ways, which are:
Salary based on negotiation
Here, the artist is not entitled to have a part of the percentage of the profit that returns after a hit song also known as “banger.” But rather the artiste is paid monthly which may be a loss to him/her.
That is why most artists tend to run away from this option.
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Payment based on a percentage
This is pretty fair and many musicians have made money through these options.
For instance, the likes of Tiwa Savage, Davido, Wizkid, and more have made through this means.
Here, the percentage of the profit made after all expenses is been shared between the artist and record label.
Regardless, the distribution deals pay more than the record deals, and distribution companies like Bandcamp, Reverbnation are always available to help with the distribution of music.
2. Through the Monetization of Facebook & Instagram Music
Many people are unaware that you may earn money from the music you post on Facebook and Instagram.You might ask, how? Facebook, which now includes Instagram, works with specific record labels and distribution firms to monetize your music on Facebook.
Your music will be uploaded to Facebook's database with the aid of a record label or distributor so that users may browse it and select songs based on their preferences. This process is logged and controlled to prevent users from breaking Facebook's policies. The following areas can incorporate music:
Instagram/Facebook Stories: Aside from passing emojis and stickers. There is an available placement for music to be added according to your stories where family and friends can watch or share with others.
Live Videos: You can select music too if you want to go live on any of these platforms. And guess what? When you are live, your audience can see the artists of the music you are playing.
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The beautiful thing about all these is that your music is being tracked and it is allowed to be shared by followers within and outside your region and at the end of the month, you get paid.
Note: The digital content that you will submit should be your content that you have the authority right to or a third party content you still have authorized to.
3. Through Paid Appearances
Despite this, record sales do not generate much revenue for the music industry.
Paid appearances are a new approach that musicians have discovered to make money.
a place where you may accept invitations to attend parties, events, and tours and still get compensated.
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4. Through Youtube
This is one of the known means of making money from musicians.
Creating content on Youtube is pretty easy these days all thanks to advanced technology.
There are several means to make money through YouTube. Which are:
First, you can record a beat and create a cover page before uploading it to Youtube.
Second, you can get paid when your music is used as ads on Youtube. So ensure you create a Youtube today!
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5. Through Collaborations with Musicians/Brands
More brands and musicians will start to take notice of you as you progressively gain notoriety and develop an internet brand for yourself.
In addition to the notification, if you happen to be very knowledgeable about your skills (music).
You'll start to get recommendations from other musicians who could have heard your song and appreciated it, in addition to your producer.
Who would have thought, for example, that Johnny Drille and Teni would collaborate to remix "Denge Pose"? This is what occurs when people work together.
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6. Through Performance Royalties
Yes, there is a possibility of making money from performance royalties.
There is no doubt that many musicians have made money from this means either by featuring them in a song or using their music to act in a movie or when their music is being interpolated or sampled.
What is music interpolation?
Music interpolation happens when a piece of existing music by an artist is being transformed with related sounds, patterns or melody, etc from the existing music.
While music sampling is when part of an existing song is being merged with a present song. So, for every song that is interpolated or sampled. The owner of the song gets royalties from the act.
For instance, the known song of Burna Boy Ye samples the late Fela Kuti.
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He may have paid royalties to the family of the deceased before bringing it on air.
So, even if the owner of the music is alive or not when the song is used in a movie or it is interpolated or sampled.
There is a percentage of royalties that goes to the original owner of the music and it is a lifelong process for musicians to make money from music.
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7. Through Streaming
Since we are in a digital space with the availability of digital content.
Musicians can now stream their music through certain platforms like Spotify, Audiomack, and many more.
How it works is that the higher the number of streams, the higher profit you make.
Although for platforms like Apple music, the algorithm behind it is that the higher the number of streams you get from a particular region, you earn more from that region.
The procedure to get started is by uploading the music to these platforms except premium platforms that you will need the help of distribution companies like Bandcamp, Distrokid, Tunecore etc to upload your music.
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8. Through Events/Ticket Sales
You cannot talk about how artists make money from music and exclude the events/ticket sales.
And like we all know that tickets have always been sold at concerts since the birth of the music industry.
In the end, the profit gathered is being shared between the artiste, record label, and the brand organizing the show.
Aside from the sales of the ticket, money also is realized through event tours where artists will be able to attract a huge crowd via their events which at enough revenue will be generated.
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9. Online Live Shows
This method was made known during the covid_19 pandemic where artists will host an online event from the comfort of their homes and tag a fee to it with a condition that you only have access to the online show after you have made payment.
It is that easy without needing to leave the comfort of your home.
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10. Government-Sponsored Events
The government takes care of the payment when you get an invite from them to come feature at any governmental events and trust me, the pay is usually a good one.
The basic thing is to build a strong online presence that can attract this kind of offer.
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Conclusion
Being a musician is one thing, but generating income from it is another.Yes, it may take some time, but it will be worthwhile. You only need to concentrate on being reliable and continuing to add value.
Please feel free to contribute any more strategies you may have for making money off of music.