Playing live gigs is still one of the most enjoyable, fulfilling ways to make money from musical talents. But if the gigs are slow right now, there are plenty of other ways to earn a living playing your instrument.
That’s right — you don’t have to settle for the stereotypical “struggling musician” lifestyle! You have plenty of revenue streams to consider, from live streaming to launching a YouTube channel, teaching lessons, and more. Below, The MSQ Shop explains these options in more detail!
Thinking Like A Business
Whatever path you take to make money in music, it's important to see and treat yourself like a businessperson. While you don't want to lose focus on your creativity, making good decisions and setting yourself up for financial success is critical for making a living.
For example, you'll need to create a business plan that describes your company, explains your services or products, and details how the business will be structured. Your business plan should also include financial projections and funding requirements, among many other details. Take the time to pour over online resources to learn how to set up a new company.
Live shows are opening up again for some musicians, but there are still restrictions in place, and touring might be an unreliable plan at the moment. The next best thing is to perform live streams.
Live streaming has become a popular touring alternative over the last two years, and it forces you to think outside the box and learn new technologies, both of which can help you grow as a musician! To make the most of your live streams, offer fans special perks such as a live Q&A, a live stream series, a behind-the-scenes segment, etc.
Streaming platforms like spot a fight, Apple music, and Google play consume much of the market that physical albums once dominated. Fortunately, it's easy to upload recorded music on these platforms, and you should publish any songs you want people to hear.
With that said, there are millions of creators using streaming platforms to get their music out. You'll need to promote your brand creatively to get listeners and earn royalties.
Starting a YouTube Channel
Chances are you spend as much time on YouTube as the next person. But have you thought about creating your own channel to showcase your music?
YouTube has become one of the most popular platforms for independent artists because it allows you to expand your reach and earn money easily. Of course, you need a lot of views and subscribers to make a significant income, but you can work other jobs as you build your presence.
If you would like to teach younger generations how to master their instrument, recording, and production, start offering private lessons. This is something you can do in person from home, at your students' homes, or in another location. But many musicians are using online platforms to teach remote lessons, which is more convenient and cost-effective for everyone involved.
Another option is to create online courses. If you're willing to spend the time and energy making top-notch courses, you can sell them online and earn passive income indefinitely. Doing so will require you to be well-versed in recording your instrument for video.
Finally, there are plenty of side gigs unrelated to music that many creative people enjoy. Here are a few odd jobs to consider for supplementing your income:
● Personal training
● Private tutoring
● Event catering
● Senior care services
● Pet care
If you're trying to earn a living from your musical passion and abilities, you live at the right time. Though live shows have taken a hit, musicians are taking advantage of many other revenue streams today. Consider the ideas above and don't give up on your dream. As you start to pad your income, you'll have more freedom to pursue your passion!
Written by Virginia Cooper
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