How to make money with music

Maybe you’ve spent years perfecting your craft as a musician and have just recorded your first EP. Perhaps you’re close to figuring out how to make money with music. Or maybe that’s anything but the case. If so, don’t fret! After all, who said making money as a musician would be easy? The good news is there are now a variety of ways to try your hand at a career in music that doesn’t involve scoring a big deal with a record label.

Here, we’ll help you get set up for success with tips on how to make money in the music industry. There are listeners out there waiting to connect with your music, and there’s money to be made doing what you love. It doesn’t get any better than that.

The first step to selling music is marketing

You could be the most talented musician in the world with the catchiest song anyone’s ever heard, but without an audience to listen to your work, you’ll find yourself stuck. That’s why it’s so important to invest in establishing your presence on social media and garner a following.

Start by creating accounts on all major social media apps like Instagram, TikTok and Facebook. Make sure that your aesthetics are coherent and in line with your “personal brand.” Then, sign up for artist accounts on streaming services like Spotify with the help of a distributor (more on this in a bit).

Establishing organic reach on social media takes time, but finding the right audience is essential to your success. These followers will become your future listeners and fans. Follow other accounts in your niche, consistently post quality content, share new music and connect with your audience as much as possible by answering messages and replying to comments. Don’t forget to use relevant hashtags on your posts so that users searching for those terms can find you – #rockon!

The importance of an electronic press kit

As you make your way in the music industry and start getting offers to play live shows or participate in other opportunities, you may be asked for an electronic press kit or an EPK. This promotional package helps provide the full picture of who you are and how hard you rock. It gives someone who wants to hire you for a gig or a marketing opportunity a quick rundown of your content and reach.

A strong EPK should include:

• Links to your tracks
• Links to your social media accounts
• Photos of your shows
• A description of you and your music
• Links to music videos
• Links to any press on your music
• Your contact information

Create this digital document on a design app like Canva, and keep it short, sweet, to the point and within your brand’s image.

5 ways to make money from music

Enough about prepping yourself to make money. It’s time to talk about how to actually make some cash from your tunes. Here are five income streams you can explore at virtually any stage in your music career.

1. Streaming royalties

You increase your chances for engagement if you make it easy for listeners to find your music. We know that Spotify and Apple Music might not feel like the virtual equivalents of your favorite underground record stores, but if you want to be seen (especially if you’re just starting out), you’ll need to be on these platforms.

The easiest way to establish yourself on a streaming platform is to work with a distribution network. These companies, like TuneCore, CD Baby, LANDR and Amuse, offer affordable plans for independent artists who want to get their music on the primary platforms. Your distributor will help you get artist status on these apps and make sure that you receive royalty payments. Click on the name of the respective platform to see the preferred distributor lists for Spotify and Apple Music.

And don’t forget to use Linktree’s Music Links to easily direct your social media followers to wherever they can stream your jams.

2. Playing live music

Remember when we said it was important to have your EPK ready? You’re going to need it when booking gigs. Reach out to local venues or use gig-booking websites like ReverbNation or Sonicbids to land your next big event or show and play for your hardcore fanbase. There’s nothing quite like giving a live (and hopefully sold-out!) performance.

3. Sync licensing

Your distributor will likely give you the option to offer sync licensing on your tracks. Essentially, this means that someone could use your music as the background to visual content like a movie, TV show, video game or an advertisement, and you get a payout from licensing your song to the producer of this content.

4. Helping out other bands

If what you really love is just being able to jam, list your skills on a job site or platform for musical collaborations. If another band’s drummer is out sick right before a big show, perhaps you can step in. Or, maybe a group is looking for someone to add some xylophone to their track and no one in their band plays this instrument (but you do). Offer your musical or songwriting skills to other groups. You won’t just earn some extra money; you’ll have the opportunity to network with other professional musicians and composers in your community.

5. Selling merch

Be it a band T-shirt or graphic print canvas tote, people love merch. Create your own ecommerce site to sell yours, and use your social media accounts to promote your rad inventory. Don’t forget to drop a link in your bio to the ecommerce site so you can sell your merch easily. If you have multiple sites to link, get a Linktree multi-URL and let your listeners explore your whole web presence, from your merch site to your music videos and beyond.

The bottom line

Even if you’re an indie rocker and not an investment banker, you’ve probably heard about the benefits of diversification in finance. Making a buck in the music business is no different. If you use different revenue streams (like a merch site, a streaming presence and live gigs), not only do you have more outlets for making money, you stand to reach far more listeners. And more fans are always a good thing.

Self-promotion can be tough initially, but remember that your audience is here for what you do. They dig your tunes and vibe, so give them as many ways to interact with you as possible. You’ll reap the financial rewards of your growing presence in the music scene.