(Hypebot) — Looking for more ways to make money as a musician? Here are five online resources for artists looking to create more revenue streams.
Fact: Technology has created a larger and more level playing field for musicians.
No longer do artists need the blessing of record labels to create, distribute, and monetize their music.
Many artists are now using technology to bypass the traditional music industry entirely.
If you’re an artist looking for new ways to generate revenue, here are 5 little-known tech trends that you can use to your advantage.
1. YouTube Ad Revenue
YouTube has become one of the most popular ways for people to consume music, information and inspiration.
And while many musicians are still not taking advantage of this platform, many are seeing a nice consistent return on investment.
So much so that many artists use their YouTube ad money to offset the costs of their music videos and video production teams.
Anthony Ramos:
Anthony Ramos, a talented singer, songwriter, and lyricist who is of Puerto Rican origin was born and reared in Bushwick, NY.
Currently, at 222,0000 subscribers, he constantly grows his YouTube subscriber base by creating consistent and quality content.
His most popular video, released in 2021 has garnered nearly 750K views. While this isn’t Beyonce number, for an up-and-coming artist, the ad revenue from this and his other videos certainly helps the bottom line.
Tobe Nwigwe:
Tobe Nwigwe is a rapper, singer, songwriter, and producer from Houston, Texas. He’s also one of the many artists using YouTube ads to generate revenue.
His most recent video release “Lord Forgive Me” featuring Pharell Williams has already generated over 1 million views and counting.
In general, that’s anywhere from $20K – $40K made depending on Tobe’s audience and the advertisements being played on his videos.
For the record your YouTube channel doesn’t have to showcase only music videos.
Your channel can thrive even more with content like:
2. Print On Demand Merch
Practically every artist knows that selling merch is a staple method of making money for music artist, but many lack understanding of HOW to make and sell merch in a profitable way.
Print on demand (POD) merch is a type of product that is only printed after an order has been placed.
This means that there is no need to keep inventory or worry about overselling.
With print on demand, you never come out of pocket and pretty much eliminate the risks usually involved with making and selling merch.
POD merch has become increasingly popular in recent years as a way for musicians to generate revenue.
And there are many different types of POD merch that artists can sell, including t-shirts, hoodies, posters, and even CDs and vinyl or personalized digital cards.
A few POD merchants are:
Using them is fairly easy just upload your designs to the POD Merchant (make your designs for free with Adobe Express or Canva), select what items you want to sell, and then create a store on their platform or integrate it with your existing website.
No costs to you until someone makes a purchase. The POD Merchant takes their cut and passes the rest to you. WIN-WIN.
3. DIY Merch Systems
If you’re the type of artist who likes to have more control over your merch, then a DIY merch system might be a better fit.
With a DIY merch system, you’ll be responsible for designing, producing, and shipping your own merchandise.
But you’ll also get to keep 100% of your profits.
The pros of having a DIY merch system are that after investing in simple inexpensive cnc machines and a compatible printer, you print merch “on demand” as fans make purchases.
Or you can create small quantities without the financial risks of creating merch in mass amounts.
Another WIN-WIN.
BONUS: Here’s more information on how to turn merch into a reliable income stream.
4. Influencer Indexes
Ever seen an influencer mention their content as being sponsored by a brand?
How about an artist mentioning their new song being used in a commercial?
What do you think the process is behind those deals?
In many cases, it’s because the artist or influencer has been indexed by a company that specializes in connecting brands with creators.
They’re using platforms like Mavrck and Influence.co to connect with brands looking to collaborate.
So what are you waiting for? Sign up and explore your opportunities!
5. Free Online Storefronts
Did you know that you can sell your merch without ever having to create a website?
Or pay for hosting, domain names, or any of that other technical stuff?
Well, it’s true. And many platforms will let you do just that.
My favorite is Gumroad.
Gumroad’s entire purpose for existing is surrounded around the concept of making money as a creative while minimizing the risks that stunt most.
Just as with Print on Demand Merchants, all you have to do is sign up, upload your product, and start selling.
But what can a music artist sell besides music and merch?
Let’s take a look at EdTalenti for some inspiration.
Although he’s graduated from free storefronts like Gumroad, his store gives plenty of ideas for what music artists can sell such as:
- Music and Sound Kits
- MIDI files of your voice
- Adlibs
- Textures: Screams, grunts, yells, yeahs, laughs
- Loops & Sample Kits
The possibilities are endless when it comes to generating revenue as a musician in today’s day creator economy.
Just think outside the box and get creative! What would (or have you created) that you’d use to make YOUR music better?
Create it, throw it up on Gumroad and promote it like a maniac!
Wrapping it up
Remember, the key to success as a musician in today’s industry is to create multiple revenue streams.
Don’t put all your eggs in one basket.
By using the tech trends mentioned above, you can do just that!
What other tech trends do you think would be beneficial for music artists?
