Top Tips to Start Making Money as a Musician

There are many different ways for musicians to start making money. You don’t have to be a world-famous artist to make a living from your music. Musicians often find success with less well-known acts as they can develop a loyal following and make money from live gigs, merchandise sales, and more. Here are some top tips to help you start making money as a musician.

Of course, if you create a new stream of revenue, you create new responsibilities as well. First and foremost, this new revenue can be sporadic and in varying increments. Therefore, you will need to learn how to properly budget this income. From there, comes the inevitable prospect of taxes and you getting familiar with the tax filing process. So, as you make money as a musician, you can balance all your financial details.

Here are, therefore, some top tips to help you start making money as a musician.

Monetize your art

One of the easiest ways to make money as a musician is to monetize your music. You can do this by selling it online or through streaming platforms such as Spotify, iTunes, and others. You can also set up a Patreon account where fans can subscribe to your content and receive exclusive access to new tracks, videos, and more. Through monetization, your music will start generating an income, which can help you to sustain your career. To start monetizing, you should create high-quality material that people will want to listen to and then promote through online channels. Spotify is one of the most common ways people monetize their music today because it provides an easy way for fans to pay a monthly subscription and listen to all of the tracks they can download.

Photo by Kobe Subramaniam.

Perform live gigs

One of the best ways to make money as a musician is by performing live gigs. This gives you a chance to meet your fans face-to-face, promote your music further, and sell merchandise or tickets to future shows. Some musicians make most of their money through live performances; however, it can be difficult trying to get booked at venues without an agent or any track record of shows played in the past. You can use online tools such as BandMix where you will find listings from everyone looking for musical acts across different genres. These sites put you directly in touch with potential bookers so that you can land gigs and get paid to play live.

Create a website

Another great way to make money as a musician is by creating your website. You can use this as a platform for promoting your music, selling merchandise and tickets, or just telling people what you’re up to. Having a website will also help potential bookers find you more easily when they are looking through their searches. This will help you to get more gigs booked and take your career forward even further. To create an effective website, be sure to include the right images, information about your past shows, any press coverage that you have received, and details of how fans can buy tickets or reach out to you directly.

Create and sell merchandise

Another great way for musicians to make money is by selling merchandise. This can include t-shirts, hats, mugs, and more with your band’s name or logo on them. You can sell merchandise at live shows or online through your website, or sites such as Amazon or Etsy. If you have a large following, you can even create your online store. This is a great way to promote your brand and make some additional income on the side.

Build a fan base

Another way to make money as a musician is to build up a loyal fan base. You can do this by playing live gigs, releasing free music, and interacting with fans online. Once you have a strong fan base, you can start making money from gigging, merchandise sales, and crowdfunding. A loyal fan base can also help to promote your music and get it in front of new audiences. To build a fan base, you should focus on creating great music and promoting it through social media and other online channels. For example, you can submit your tracks to online music blogs, post them on social media platforms such as SoundCloud and YouTube, and create a free website where people can listen to your music.

Photo by Chase Yi.

Crowdfunding

Crowdfunding is another great way for musicians to make money. This involves asking fans to donate money in exchange for rewards such as exclusive access to new tracks, merchandise, or even tickets to future shows. You can use sites such as Kickstarter or PledgeMusic to set up a campaign and start raising funds from your fans. This is a great way to raise money for specific projects such as an album release or a tour.

Sell your music online

Another easy way for musicians to make money is by selling their music online. You can do this through your website, or online music stores such as iTunes, Amazon Music, and Google Play. This is a great way to reach a wide audience and sell your music without having to do any gigging or touring. You can also use sites such as Bandcamp to sell your music directly to fans.

There are several different ways that musicians can make money. By promoting their music, selling merchandise and tickets, or creating a website, musicians can reach new audiences and make some extra income. With a little creativity and hard work, anyone can start making money as a musician.