Stephanie G. Mathis If the past few years have taught us anything, it is that musicians found ways to earn more money online even when touring and live performances were not an option.
After two years of lockdowns in many parts of the globe, live performances are now returning. Musicians are taking to the road for the proven and reliable revenue stream that is associated with performing live.
There’s no reason you can’t combine the online revenue streams generated during the pandemic with live shows and tours.
Here are fourteen ways musicians can earn money online.
Sell music on your website.
Create a website to showcase your music if you do not already have one. It gives you your little piece of the web that you control and can sell your music directly from your website to your fans.
You will own all the emails and data you collect via your website. It is vital for your long-term career success. Then, you can use this information to inform your fans about new releases, upcoming concerts, crowdfunding campaigns, and more.
Sell digital downloads through Bandcamp, Amazon Music, and Apple Music
Musicians can still earn money from digital music even though music fans aren’t buying as many downloads. Music fans bought over 15 million digital albums and 7,000,000 tracks in 2021 through Bandcamp.
If you already have an account with Apple Music or Amazon Music, your fans can support you by distributing your music through these online retailers.
Make your music streaming-ready
Major streaming platforms such as Spotify, Apple Music, and Amazon Music are where the majority of listeners go. It is, therefore, essential that you make your music available on major streaming platforms like Spotify, Apple Music, and Amazon Music to reach both your existing fans as well as potential new fans.
Streaming revenue is typically measured in fractions per stream. However, over time, it can become a significant source of income. You want to provide your fans with every chance to support your career. This includes making your music available for streaming.
Sell band merchandise through your website.
Bandzoogle has sold more than $15M worth of band merchandise through its members’ websites in the past two years, all without commission. The items include CDs, vinyl, t-shirts, and other wearables, as well as digital products like videos, sheet music, and more.
You can use a service such as Printful to sell merch if you are looking to start band merchandise online but don’t know what to offer to your fans. There’s no need to stock merchandise, and there are no upfront costs.
Create a professional site in just a few simple clicks, where you can sell music or merchandise commission-free. Join Bandzoogle and start a music sale.
Live stream tickets for sale
Live streaming is still a great way to interact with fans, and it can generate revenue for you online.
Selling access to live streams can be an effective way to make money while also engaging with fans around the globe.
Free live-streaming concerts available with a tip jar
You can host your live streaming shows for free and set up a tip jar if you’re not comfortable with selling tickets.
This can be done on Facebook Live or Instagram Live by sharing your PayPal.Me URL, Venmo Username, or a link to your website with your viewers.
Bandzoogle’s Enter The Haggis, who had their album release tour canceled due to the pandemic in 2020, streamed biweekly listening parties to their new album on Facebook. The band created a landing page for each livestream on their website, with the album available for purchase, the associated merchandise, and a tip jar. They ended up earning over $16,000 through these live streams.
Live stream shows: Collect royalties.
Performing rights organizations had stepped in to provide a new revenue source for musicians during the global shutdowns when they had no choice but to stream live shows.
PROs partnered with YouTube, Facebook, and Instagram to enable artists to earn royalties for their livestream performances. This included Ascap for the US, PrS For Music for the UK, and Socan for Canada. If you are performing your original music in a live stream, check with your PRO if they can help you receive royalties.
You can monetize your YouTube channel.
Uploading all your music onto your YouTube channel will be the first step in monetizing it. Then, you will need to enable YouTube monetization in your account.
You can also claim your share from the advertising revenue generated when your music is used on a YouTube video. You can get your money back by working with a digital distribution company such as CD Baby.
Crowdfunding is a great way to fund your next project.
If you are able to build a fan base that is growing and supportive, Crowdfunding could be an excellent way to raise money to cover your project’s costs.
To build excitement among your most committed fans, you need to show them the creative process and invite them to see what goes on behind the scenes.
Subscribe to a fan club.
Fan Subscriptions are a great way to generate recurring income online. Subscriptions, also known as memberships, give your most dedicated fans exclusive access to recordings, performance videos, merchandise, and rewards for a monthly fee.
It takes a lot to release new rewards and content. If you are up to the challenge, this is a great way to build deeper relationships with your music fans and generate recurring revenues.
