This post originally appeared on the Bandzoogle blog. Dave Cool is the Director of Artist Relations for musician website & marketing platform Bandzoogle. Twitter: @Bandzoogle | @dave_cool
One of the biggest challenges facing musicians is generating income. Gone are the days when a band could rely solely on music sales and touring to earn a living.
Part of the reality of being a working musician today is the need to diversify your revenue streams. Although sales of recorded music have gone down significantly in recent years, there are new sources of income available to musicians.
A mix of traditional and more modern income streams can help today’s musicians earn a living. Here’s a list of 18 ways to generate revenue for your music career:
18 Ways Musicians Can Make Money
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. Digital Sales: You should be selling digital music through your own website to make the most money, but also through online retailers. Keep in mind that online retailers take a percentage of sales (ex. iTunes takes 30%, Bandcamp takes 15%). Some digital distributors that place your music in stores like iTunes and Amazon will take a cut on top of that.
4. Streaming: Although per-stream payouts from streaming services tend to be small, they can add up …read more
Source: Music Think Tank
