How to make money from your music
This is probably a bit of a given, but as an artist, you’ll be wanting to make some money out of your music. Especially if you’re looking to quit the day job. The bills ain’t gonna pay themselves!
So how do you go about making money from your work? There are a number of ways to create an income from your music that we explore below. But you won’t just land a huge payout straightaway. In essence, turning your passion into payment requires hard work, dedication and the right support.
Streaming
Every time someone streams your track on a platform like Spotify or Apple Music you could make money! This is often referred to as the artist royalties, which are the payments for streaming your licensed recordings. You can find out more about how royalties work here.
If you are distributing your music through Identity Music, you’ll be able to see a complete report of the streams and payment due in your client portal. Our client platform breaks it down so you can see which platforms are filling up the piggy bank and how many people are loving your new hit.
By distributing with Identity you are able to keep the biggest slice of pizza (and all the toppings!). Because, our royalties share is established at a fair rate to you.
Sell to your fans
We hope you’ve been paying attention to our recent posts! We’ve been boring you talking on and on about building a relationship with your audience. Now we are going to tell you how to make direct money from that.
Now that you have some social profiles with relationships built up with your fans, you also have a direct promotional tool in the palm of your hands. All of those fans are now potential customers. When you have an engaged fanbase, you have a buyer list ready and waiting. And, if you’ve got to know them the way we’ve been telling you to, then you’ll know what kind of products they’d buy! Start creating some products that you know will suit your audience. This could be some branded merchandise, VIP live experiences or more!
Sponsorship
If manage to build a sizeable audience, you might even get lucky enough to land a partnership with a brand! Seeing as more and more brands are adding influencers to their digital marketing strategies, this gives you an opportunity. By becoming part of their marketing strategy you can get paid the big bucks.
Performing
Good news! If there are people who want to be in the same room as you while you are singing, then you can make some dollar!
Making money through live performances is pretty simple. But, chances are you’ll only be making the big bucks when you get into the bigger venues, like theatres, large clubs and festivals.
Many up and coming artists stand to make more money from their copyright and streaming than fees by show venues. But this doesn’t mean that live performances are a no-go! Performing at a variety of venues can give you a good cash injection. Kick off with some smaller venues and find your feet!
Monetize your property
By using Identity Music’s digital rights management you can keep track, keep control and keep the money flowing from all your work.
Every song that you create is protected by certain copyrights and trademarks. In order to have the proper protections and trademarks set up, you’ll need to enlist the help of experts. Some people may say it’s not a top priority for new artists, but we disagree. By using our Digital Rights Management services you can protect what matters to you most.
More than that, many high performing artists make millions from companies using their music in their products. Consequently, by not registering your craft, you risk losing out on the dollar. Due to building an engaged fanbase and setting up your rights management properly you could capitalise on the use of your music. Making sure that your rights management is set up the right way is essential, and where Identity Music shines!
So, while you probably won’t be able to quit the day job on day one, if you keep at it, there are plenty of potential income avenues for you. Of course, it takes time! But check out this recent blog post for some free promotion strategies!
Identity Music specialises in helping their artist turn creativity into income. We work in the most fair way, with no upfront fees and no hidden costs. Our royalties share is negotiated so that you always keep the lions share.
If you’re considering turning your creation into an income, then get in touch with Identity Music.
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