5 Creative Ways to Make Money from Your Music
If you’re reading this, you’re probably like me - you love making music but you’re frustrated trying to make a living with it. We’ve all heard the story of the starving artist countless times, but I’m here to tell you that it’s not all doom and gloom! Here are five creative ways to make money from your music.
Sell your music online
Selling your music online is one of the most common ways to make money from your music. There are several online platforms where you can sell your music, such as iTunes, Spotify, and Amazon. These platforms allow you to upload your music and earn royalties every time someone streams or downloads your music.
Another option is to sell your music directly from your website. You can use services like Bandcamp or Gumroad to sell your music and keep a larger portion of the profits. These services also provide you with a way to build a fanbase and interact with your fans directly.
The secret to success with these platforms is twofold. First, having a large fanbase (or a lot of family and friends). Be sure to announce your new releases to everyone. By having a large chunk of listeners boost your songs, they’re more likely to be discovered by playlists and algorithms.
Which brings us to the second way - getting on playlists. These days playlists are harder and harder to get onto, and they often require artists to pay to be included on them. Sometimes it can be worthwhile, but you need to really vet the playlists. It also helps to build relationships with playlist curators before you need their help. For example, you could send them songs by other musicians you think they’d like. Then when the time comes to promote your song, you can ask them kindly.
2. License your music for TV, film, and commercials
Licensing your music for TV, film, and commercials is another way to monetize your music. I’ve made around $20,000 from doing music licensing as a very part-time side hustle. Companies are always looking for great music to use in their ads, TV shows, and movies. You can use services like Pond 5 or AudioJungle to get your music in front of companies looking for music. I’ve put together a free in-depth guide beginner’s guide on how to license your music.
Another perk of licensing your music can also help you gain exposure and build a fanbase. If your music is used in a popular TV show or movie, people will want to know who you are and where they can find more of your music.
3. Offer music lessons
If you’re an experienced musician, offering music lessons can be a great way to make money from your music. You can offer lessons in person or online using platforms like Skype or Zoom. You can also create online courses and sell them on platforms like Udemy or Teachable.
And to be honest - you don’t even have to teach music! I’ve been very successful selling courses that teach people how to use a specific piece of software to make music. Or maybe you could teach a course on programming synthesizer patches. The possibilities are endless!
Offering music lessons not only helps you make money, but it also helps you build a community and share your knowledge with others. It’s also a great way to network and meet other musicians. I’ve really enjoyed the opportunity to interact with musicians all over the world.
4. Perform at private events
Everyone knows about regular old gigs at clubs and bars, but there’s a lot of money to be had with private events. Performing at private events is a great way to monetize your music because the payments tend to be at a living wage. Think about how you could perform at private events like weddings and corporate events. Heck, my band once got paid $800 to play a one hour gig at a private school fundraiser BBQ. And we got free BBQ!
If people enjoy your music at a live event, they’re more likely to become fans and buy your music or recommend you for other events. To get these sorts of gigs, network with business owners you know and tell them that you’re looking to get into private events. You never know what may come your way!
5. Create and sell merchandise
Creating and selling merchandise is another way to make money from your music. You can create t-shirts, hats, stickers, and other merchandise with your band’s logo or artwork. You can sell your merchandise at live events or on your website.
Merchandise not only helps you make money, but it also helps you build a brand and promote your music. If people see your logo or artwork on someone’s shirt or hat, they’re more likely to remember your band and check out your music.
Evan has been writing and producing music for 30 years. After 3 grueling years of grad school, he put aside serious attempts at making music, until he realized that music licensing was the perfect opportunity to get his music heard, without having to do any promotion. Since then, his songs have been on Netflix, shows like the 90 Day Fiance and the Real Housewives, and NPR’s “All Thing Considered.” You can find out more at StockMusicMusician.com