Being a music artist and make a living out of it is no big deal in itself. But being a novice in the field and figuring out things on your own is. So, we just made it simple for you by curating 6 easy ways on ‘how to make money being a musician’.
But before that check out the book, Click Millionaires, that shows, what it is like to balance your passion with the work that you cherish and still succeed in life.
Some ways which can make a Musician enough money
- Spotify | Youtube | Apple Music and other major platforms
These music platforms are the most traditional way an artist can make an income out of. Keeping with the pace, a moderately developed artist can make a good amount of money from them. Spotify gives better returns than Youtube, almost double after being monetized. Here are a few basic terms and conditions that you need to know about Spotify. Additionally, one must know that Spotify is now letting music artists post their tracks without any charge. This comes as a great relief!
- Music Blog
A properly hosted monetized blog with AdWords, affiliated links, Ads etc. can yield a person quite an impressive amount of income. An average blog can easily make $1000 per month. Just that, it takes a good amount of time to curate a blog with proper SEO techniques. You can share your experience, give product reviews, promote business deals or events, lead generation, customer conversion using that online web piece. Majority of your income can be turned around by a blog. Business is an important aspect everywhere, hence we recommend you to research on this topic and find a way for yourself. Follow the above-suggested book Click Millions, it could be a life-changing one. You can read Rich Dad Poor Dad if you want to dive more into the business aspects. Highly recommended!
- Promoting yourself as a freelance Artist Manager and an Artist
Being a freelance Artist Manager can be another way to make a few bucks. Managing events and outsourcing equipment could also be a way. For this, you need to start networking with people. Network along with good talent/art makes the best out of an artist. Move out, go to different events, clubs, festivals and meet the backstage working people; talk, tell them what you are working on. For example, let’s say some XYZ college wants to book a rare artist. He goes on to contact the most approachable managers, the manager asks some other person who asks you, provided you have the contact. Well, there is your shot, you get the contract while the extra men in the game get the commission for getting you the contact. All of this, just due to the network that you made. You can even get yourself promoted in such a scenario, eg. securing yourself an opening slot along with the contract.
- Working with a mid-sized Music Company
An artist working with a music company can be the best deal ever. A perfect exchange of demand and knowledge. Aim for lesser known music companies first. Don’t be against working with smaller or mid-sized music companies. They can get you exposure and you’ll also get to make new contacts. You’ll grow along with the company.
- Stock Markets/Investing
This can be a part-time job for you to do or possibly a good investment of your time. A single investment on the right shares and funds can yield you a good amount of money. This may take a long to grow. Having the precise knowledge can turn your investment into a handsome payback. The pro-point is, you don’t have to invest much of your time once you have knowledge and guidance.
- Uploading Music Lessons at Study platforms like Coursera, Udemy
Sharing your music knowledge by compiling, turning them into a course and uploading, can return recurring revenues which require a single investment of your time and work. There are people making $1000 every month, which can increase or decrease keeping in mind the popularity of the course. Platforms like Udemy, Coursera, Youtube are the best ones, so go for it!
We at Groovenexus, share with you the most appropriate and workable ways on how to make money being a musician. Additionally, you may also be interested in tips to use Social Media Marketing for Self-Branding as a Musician and tips on Self-branding as a music artist in the digital world.
Furthermore, if you have any queries or need any assistance, put them in the comments below and we will reach out to you. Till then, keep exploring and keep grooving.