The Best Ways to Monetize Your Music Today

It is no secret that the music industry has changed dramatically in recent years. With music being accessed worldwide, for practically free, gone are the days when artists could make a living solely off selling records (for the most part).

These days, artists have to find new and creative ways to monetize their music, and we're going to discuss some of the best ones!

So, without further adieu, here are some of the best ways to monetize your music today:

Performing Live Shows

One of the best (and most fun) ways to make money from your music is by performing live shows. We like to say, performing live is a vibe, and it is only becoming more and more popular coming out of the Covid pandemic.

If you've got a solid fan base in a certain city or region, you can make a decent living by playing regular shows there.

Moreover, live shows are a great way to promote your music and grow your fan base. If you make a good impression on people who see you live, they're likely to go home and check out your music online (and maybe even buy some of it).

Not to mention, it is much easier to sell tickets, merchandise, and physical copies of your music to a live crowd, than it is to sell on your website.

Selling Merchandise

Another great way to make money from your music is by selling merchandise. This can include anything from t-shirts and CDs to more unique items like posters and signed photos.

If you've got a good design sense, you can even create your own merchandise to sell. This is a great way to make some extra money and connect with your fans on a more personal level.

There are also many companies that do something called print on demand, meaning you do not have to worry about managing inventory, or shipping - that's all handled by the print on demand company you decide to work with.

In other words, you can setup your online story for free, direct your fans to it, and get paid every-time they buy something.

Licensing Your Music

Another great way to make money from your music is by licensing it for use in film, television, or video games.

Whenever you hear a song in a movie or see it used in an advertisement on TV, the artists who created that music are getting paid.

This is usually done through a company that specializes in placing music in these types of projects. You can also work with these companies to get your music placed.

The amount of money you can make from licensing varies depending on the project, but it can be a very lucrative way to monetize your music.

Crowdfunding

Crowdfunding platforms like Kickstarter, Indiegogo or even Patreon have become increasingly popular in recent years, and they're a great way to raise money for your musical projects.

If you've got a great idea for an album or piece of equipment but don't have the funds to make it happen, crowdfunding could be the way to go.

It will allow you to gauge interest in your project and raise the money you need to make it a reality, while rewarding your fans for their support.

Sell Beats And Samples

If you make your own beats or produce music, you can make money by selling your beats and samples online.

There are a number of websites that allow you to do this, and it's a great way to make some extra cash if you've got the skills.

Collaborate With Other Artists

If you're a talented musician, there's no reason you can't make money by collaborating with other artists.

You can offer your services as a session musician, songwriter, or producer, and team up with other creatives to make some great music.

Teach Music Lessons

If you're a skilled musician, why not share your knowledge and teach others? You can make money by giving music lessons, either in person or online.

This is a great way to earn some extra cash, and it's also a great way to help others learn more about music.

Brand Partnerships

If you've got a strong social media following, you can make money by partnering with brands. You can promote products and services on your platforms, and receive compensation for doing so.

This is a great way to monetize your music and reach a wider audience. There are also many companies that are looking to support local up and coming artists, so keep an eye out for them your community.

If you following is not yet large enough to attract partnerships, there is no shortage of companies that have affiliate programs. What this means is you receive compensation for referring people to a product or service. We even have one, that you can check out here.