The business of music has evolved past radio plays, gigs, selling physical copies of CDs and headlining concerts. Musicians now have other ways of deriving revenue with the help of technology. The internet is a major source of revenue for millions of people these days. Musicians are not left behind. There are musicians, who aren’t mainstream, that are making good money from streams, views and other platforms on the Internet.
You no longer need to get a billion-dollar record deal or go viral before you start raking in cash. There are endless opportunities that enable artists to smile to the bank.
1. Get support
They say charity begins at home; the support of your family and friends is a good place to start. If your friends don’t support you, you need new friends. If you have gotten some great positive feedback from them and really think you are talented, it is time for them to put their money where their mouth is.
2. Promote your music
According to a report, streaming makes up 75% of all recorded music revenue collectively. Get your music exposed to millions of new listeners through playlists and social media promotions. Now that you have a strong support system, encourage them to stream and buy your song online. It could be on iTunes, Amazon, Google Play, Tidal, Google Play or Boom Music Player. Your family and friends buying your music will put some money in your pocket and also improve the ratings of your songs.
3. Utilise YouTube
Get new fans on YouTube by promoting your music on there. You also get revenue from getting increased views on YouTube. Yes, YouTube pays you after you hit a certain number of views. There are four ways to earn money from YouTube.
- Register on online collection companies, like InDmusic, AdRev, and Audiam, to automate your YouTube revenue collection.
- Get paid royalties by YouTube for the sound recording owner collected by your distributor, and for the visual content owner collected by your Admin Co.
- Get paid the performance royalty for the public performance broadcast of the song collected by your PRO.
- Earn a mechanical royalty for the interactive stream of the song (Composition/Publishing) collected by your Admin Co.
With an online fan base or community, it will be easy for you to carve a niche for yourself. You can now know to headline a small concert and likewise get attention from already established artists. You can also sell merchandise like face caps, shirts, hoodies online at your concerts. There a few artists that have leveraged on their online fanbase to get out there. Mr Eazi, Nonso Amadi, Santi, and the new Alte vibe musicians are only a few that easily come to mind.
4. Go big!
Being popular online is a better way to help you also connect with the international market. There are no boundaries. You can reach anyone, anywhere at any time. Jay Z is now only a tweet away and your music can get to Timberland with just a click. It has become so simple these days. You just need to know how to use the information you have, especially when you make good music. You do not even need to be in the same studio to make collaborations happen anymore. After all, Drake and Wizkid did that and got a Grammy for it.