There’s no getting around the fact that this has been a hard year for independent musicians. The vast majority of musicians make their money from live performances, and the COVID-19 pandemic has dealt a heavy blow to that industry. Now, it’s become imperative to get creative with different revenue streams. Fortunately, there are still ways to make money in music. And the hard work you put in now, as well as the strategies you learn along the way, are sure to benefit you long after this pandemic is over.
Become a freelancer.
As with so many other industries, you can thrive as a freelance musician. By creating a profile on an online job platform, you can begin building your name and attracting clients with your unique skills. Songwriting, composition, and music production services are some of the most popular niches for freelance musicians, but you can also get hired for engineering, playing events, and so much more.
There has never been a better time to teach virtual lessons. Even with restrictions loosening, people are spending more time at home, and many of them are looking for new skills to learn. And some are specifically trying to find a creative outlet. Lessons usually run for about 30 to 60 minutes, and you can use a video chat app like Zoom or Skype.
Embrace live streams.
Live streams are the closest thing you will get to a live show right now. And technically, a live stream still is a live show — it’s just virtual. Many artists have embraced this art form and figured out how to make it creative and effective. As long as you have the equipment and know-how to produce high-quality audio and video, you can get your performance across with lots of people tuning in. Also, you can sell tickets for the event (or incorporate a digital tip jar) just like you would for a live show in the old days!
Use your website.
Even with the popularity of social media, your website is the virtual face of your product. Make sure it’s up-to-date, engaging, and has all the information and content that you want the world to see and hear. There are many ways to use your website to supplement your income. Selling music and merch directly to your fans is perhaps the most straightforward strategy. However, you can also drive traffic to your site by posting blogs, videos, and other content, which can ultimately lead to a stronger fan base and more sales of your products.
Get on all streaming platforms.
Album sales are nothing like they used to be. Nonetheless, streaming revenue can still provide you with a legitimate source of income. Make sure you are uploading your music to all of the major streaming services, including Apple Music, Spotify, and Amazon.
Monetize your videos.
Musicians make money on YouTube and social media all the time. Usually, this happens when their music is used on someone else’s channel or on their own. Anytime your songs are heard on platforms like these, you can get a cut of the ad revenue. Try to create as much quality content as you can, and shop it around to YouTube stars and social media influencers.
Do you want your child to learn an instrument? Your child will achieve great results and love studying music at School of Music and Drama. Call 732-219-1850 to learn more.
Special thanks to Charles Carpenter