Posts

revenue streams for musicians

New technology may have had a negative effect on traditional music sales, but it also opened up a ton of other potential revenue streams for musicians who are dedicated. Of course, the digital product options are endless, ranging from digital downloads, to streams, to digital sheet music and photos. You can also connect with millions of people through the internet by streaming live shows, filming daily video-logs, raising money via crowd funding, and even giving online lessons!

Dave Cool from CD Baby create a great list of 18 revenue streams available to musicians today. Of course there are a ton of other possibilities if you get creative with it! This is just a short excerpt of the list. You can check out all 18 revenue streams over on the CD Baby Blog!

If you want more ideas of how you can make more money and make a career in music, click here to download this free ebook and learn how to Hack the Music Business!

1. CD Sales: If you’re going to be playing live shows, having CDs on hand is still a good idea. They make great takeaway souvenirs that can easily be signed by band members.

2. Vinyl Sales: Vinyl sales surged 30% in 2013. Again, if you’ll be playing live shows, printing a small batch to have at your merch table can help generate extra income.

3. Live Shows: Money made from live shows can vary greatly, but it’s still one of the best ways to earn income. Not only can you make money from selling tickets, but it’s also one of the best ways to sell merch. Be sure to read our blog series “The 4 P’s of Playing Live” to make sure you’re getting the most out of your gigs.

4. YouTube: On YouTube, whenever your music is used in videos that are running ads, YouTube pays a portion of that advertising money to the rights holders of the song. Digital distributors like TuneCore and CD Baby can help you collect that money, as well as Audiam.

5. Sponsorships: If you’ve built up a fan base, some companies are willing to sponsor musicians to reach those fans. Sponsorships can range from cash, to free products, services, and gear. Read this excellent guest post from Dave Huffman about sponsorships: Musicians: How to Get Sponsored

6. Session Work: Another way to make some extra money is to put yourself out there as a session musician. As a singer or instrumentalist, you could do session work for other musical projects, or even in advertising.

7. Cover Gigs: Playing cover gigs at bars, restaurants, weddings and other private events is frowned upon by some musicians. But those shows can pay really well, and allow you to get paid to play your instrument. There’s no shame in that.

Do you draw from any of these revenue streams for musicians? Any revenue streams not mentioned on this list?

income streams for musicians

My friend and Berkleemusic student David Sherbow posted this list of income streams for musicians on his blog and it got picked up by Hypebot as well.  This is a pretty comprehensive list of the different ways that musicians can make money.

The artist music business model has been in flux for years. The record deal dream that most artists sought is no longer the viable alternative that it once was.  The leveling of the music distribution playing field by the Internet is virtually complete.  Terrestrial radio is on a path towards destruction that even the major labels can’t compete with.  People now access and download music from multiple sources, usually for free.  D.I. Y solutions are everywhere, but for many artists hard to integrate into their daily lives.

Where does this leave the average independent artist? At the beginning. Every artist wants to know how they can make music, make money and survive to write and play another day. Here, in no particular order, is a list of possible income streams for musicians.

• Publishing
• Mechanical royalties
• Performance Royalties from ASCAP and BMI
• Digital Performance Royalties from Sound Exchange
• Synch rights TV, Commercials, Movies, Video Games
• Digital sales – Individual or by combination
• Music (studio & live) Album – Physical & Digital, Single – Digital, • Ringtone, Ringback, Podcasts
• Instant Post Gig Live Recording via download, mobile streaming or flash drives
• Video – Live, concept, personal,  – Physical & Digital
• Video and Internet Games featuring or about the artist
• Photographs
• Graphics and art work, screen savers, wall paper
• Lyrics
• Sheet music
• Compilations
• Merchandise – Clothes, USB packs, Posters, other things
• Live Performances
• Live Show – Gig
• Live Show – After Party
• Meet and Greet
• Personal Appearance
• Studio Session Work
• Sponsorships, and endorsements
• Advertising
• Artist newsletter emails
• Artist marketing and promotion materials
• Blog/Website
• Videos
• Music Player
• Fan Clubs
• YouTube Subscription channel for more popular artists
• Artist programmed internet radio station or specialty playlist.
• Financial Contributions of Support – Tip Jar or direct donations, Sellaband or Kickstarter
• Patronage Model – Artist Fan Exclusives – e.g. paying to sing on a song in studio or have artist write a song for you
• Mobile Apps
• Artist Specific Revenue Stream –  unique streams customized to the specific artist, e.g Amanda Palmer
• Music Teaching – Lessons and Workshops
• Music Employment – orchestras, etc, choir directors, ministers of music, etc.
• Music Production – Studio and Live
• Any job available to survive and keep making music
• Getting Help From Other Artists and Helping Them –  Whatever goes around come around. – e.g. gig swapping, songwriting, marketing and promotion