The best way to make money in music is different for each person.
It depends on what you like and what you enjoy doing.
You want to make money in music for the long haul so it needs to be something you love doing.
Making money is one thing but if you don’t like what you’re doing to make it then it won’t last.
That’s a recipe for disaster and one thing will happen, you’ll quit.
You need to consider what you really love doing.
Let’s look at a few ways you can start making money in music.
7 Ways to Make Money in Music
This list is in no particular order and you’ll need to decide what you feel fits you best.
- Making and Selling Beats – Beats have become a “real” thing in today’s marketplace. Go to BeatStars and sell yours. Lil Nas X bought “Old Town Road” from Beatstars for $30. The beat maker, YoungKio, who was just 19 years old had his sales go through the roof and ended up signing a contract with Universal Music Group.
- Selling Your Band Merchandise – People love to buy merch. Especially at live shows. Merch sales account for a large portion of revenue for touring artists. You could sell your merchandise on your website too but most of the sales will come from live shows. You need to book gigs to make the most of your merch.
- Performing Live – Playing live is not only a great thrill but it’s just one way you can supplement your music income. The more gigs you get the more money you’ll likely make. As your popularity grows, you can also bump up the fee you can charge. Wedding bands, tribute bands, and cover bands usually make the most money.
- Give Music Lessons – At one point I was giving guitar lessons almost full-time in addition to gigging and working a “regular” full-time job. It’s a great money maker but it takes time to build up your student list. The work can be boring, especially when students don’t practice but it’s pretty steady income.
- Create a YouTube Channel – There is so much room for everyone on YouTube. Pick what you love most in music and start posting regular videos. Keep in mind that it will most likely take over a year to get started. Post one video per week. Keep your content focused on one theme. After you have an audience then monetize your music channel.
- Offer a Service – GigFaster is a perfect example of a music service. Our web application lets you book gigs, promote your music and submit to record labels. Brainstorm and ask yourself what service you could offer. It doesn’t have to be an application. It could be anything from helping other musicians to assisting clubs.
- Session Work – Offering your talent as a session player has become much easier with websites like SoundBetter and Thumbtack. You will need a decent in-house studio to record your tracks and good internet. Obviously, you’ll also need to be talented and easy to work with. Consider a lower fee to start so that you can get some rave reviews. Afterward you can raise your prices as fit.
When you combine a few of these ways to make money in music you can earn a decent living doing what you love to do.
The sky’s the limit. In all reality you could do all of these at the same time.
What ways do you make money in music?
How GigFaster Can Help
Promote your music, work hard, hustle and use tools that will make your job easier. Set yourself up for success.
We have a built-in network of over 6,000 venues, music promoters, and record labels. We can help you distribute your press kit and book gigs in cities all around the country.
Start for free today.
Remember, if you want to succeed, never quit!
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