Music Sells. 99% of the people in the world love some type of music. Music is an integral part of our everyday lives, whether we're working out to it, leisurely listening to it, going to a concert, watching a movie or show, shopping, worshipping, partying, going to a restaurant, learning, or doing any of the other thousand activities that we humans like to pair music with.
Since music is one of the most important parts of entertainment, it is bound to be a billion-dollar industry. The music world is a bit chaotic at the moment with all the different changes in technology, but there are also new ways to make money with music popping up all the time thanks to that same boom in technology.
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Looking to making money with your music via passive income? Working toward going at it full time and quitting your day job? Consider these methods of earning money from your work. From royalties to sales to work for hire, you have several options at your disposal if you have the talent and work ethic to make things happen!
You can earn money from royalties on streaming sites like Youtube and Spotify. Each time your song is played, you earn a small fraction of a cent that can add up a lot if you're getting thousands of plays on your songs. Royalties are a great passive income to have since you can earn money at any time from your previous work without actively putting in present hours for it.
Related Post: See How Royalties Work And How I've Gotten Paid
Similar to royalties, sales are a great form of passive income that can earn you money from your previous works at any time. Sales in the music world can come from products like singles, albums, merchandise, and show tickets. While not all forms of sales are passive, you still have a great amount of scalability in your profits when selling your products to fans.
If you are interested in putting your talent to work for other people's songs, consider doing work for hire projects. Companies and musicians often hire singers, instrumentalists, producers, and rappers to lend their talents to a project for a set fee or pay by the hour. Building a freelance business for your music can grow very quickly if you provide high-quality results, since, oftentimes, you will win repeat customers effortlessly.
If you are able to consistently come out with a great stream of video and/or audio content to post on a site like Youtube, you should think about getting into starting your own channel. Channels that have a high amount of subscribers often see thousands of dollars in earnings monthly. The key to this method is being original, consistent, and likable.
Music is always needed in advertisements, movies, shows, games, and many other forms of entertainment. If you have a large amount of original material that you are interested in licensing to a company to earn commissions, apply to a few trusted music licensing companies. Licensing earnings can range from $500 to $50,000 per project for independent artists and musicians.
If you're looking to share your skills with others who are growing in their music journey, look into teaching or giving private music lessons. Lessons are pretty flexible these days with in-house lessons, in-studio lessons, and video lessons. You can also get creative with the format of your teaching, delving into the content marketing side of things with options like ebooks or webinars that share your musical expertise.
Some very prestigious choirs do so well with gigs that they are able to pay choir members. While some choirs allow all singers to get paid, other choirs hire section leaders in a choir to sing and help other choir members with the choir music. Smaller musical groups like barbershop quartets, boy bands, and carolers also get paid and have a ton of fun singing.
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This blog was written by singer, songwriter and producer Yona Marie. Check out Yona’s latest music releases on her Spotify, her Youtube and share the music if you like it!
If you are ever in need of singer, songwriter or song producer services for your music project or brand, see what Yona Marie can offer you on her song services page.