As a musician, you know all too well how difficult it can be to make a living from your passion. Although online music streaming has become the go-to way for people to listen to music, it’s not the only way for musicians to monetize their art. There are plenty of other options out there that can help musicians make money and survive as independent artists, let’s look at some of them.
Music publishing can be a great way for artists to make money from their music. It refers to the process of managing the rights to a musical composition, which can include collecting royalties for its use in various forms of media. This could include placements in film and TV shows, commercials, and video games. If you write your own music, you can earn money by receiving a share of the royalties from the publishing rights. This could come from airplay on the radio, streaming services, and other sources. You can also earn mechanical royalties for the use of their music in recorded form, such as CDs or digital downloads.
Music synchronization services can be a lucrative way for musicians and composers to earn money by licensing their music for use in films, TV shows, advertisements, video games, and other visual media. One of the key steps to success in this field is to create high-quality music that is well-suited to the specific needs of clients, such as a particular mood or genre. It’s also essential to understand the legal and copyright aspects of music sync, including the need to obtain appropriate licenses and negotiate fair compensation. Many sync agencies and libraries exist to connect musicians with clients, and some may require exclusivity agreements, so it’s important to weigh the pros and cons of different sync opportunities. Additionally, musicians should ensure their music is easy to find and access by providing high-quality demos, metadata, and clean audio stems. Finally, musicians should be prepared to pitch their music effectively, by highlighting its unique qualities and demonstrating how it can enhance a particular scene or project. With persistence, creativity, and a bit of business savvy, musicians can turn their passion for music into a successful career in sync licensing.
Musicians can earn revenue from neighbouring rights by registering their music with a performance rights organization (PRO) and collecting royalties whenever their music is played on radio, TV, in public spaces, or streamed online. PROs typically collect these royalties on behalf of the musicians and distribute them accordingly. To make sure they are eligible for neighbouring rights, musicians need to ensure that their recordings are properly licensed, and they should also monitor and report any unauthorized use of their music to their PRO. If you want to get paid for the use of your music in a commercial setting (e.g., as background music in a store), then you need to register your recording with one of the three US PROs: ASCAP (American Society of Composers Authors & Publishers), BMI (Broadcast Music Inc.), and SESAC (Society of European Stage Authors & Composers). You can do this by submitting an online application at each PRO’s website. Once you have registered your recording with one or more PROs and received a license agreement from them, you’ll be able to collect royalties for the use of your music whenever it’s played on radio stations or streamed online services like YouTube or Spotify and so on.
Music library is a catalog of pre-recorded music that can be licensed by others for use in various media productions such as films, TV shows, commercials, video games, and more. If you have built a solid music catalog, you can begin submitting your tracks to music library services. Some services have an application or submission process, while others allow artists to upload their tracks directly. It’s important to carefully read the terms and conditions of each service to understand the licensing fees, commission rates, and other details. When a track is licensed, the artist typically receives a one-time fee or a percentage of the licensing fee. The amount of money an artist can make through music library services varies depending on the service, the quality and popularity of their music, and the frequency of licensing. Some artists also receive ongoing royalties when their music is used in future projects. Aside from licensing their existing tracks, artists can also offer custom music composition services for clients who need music for specific projects. This allows artists to showcase their skills and create music that is tailored to the needs and style of the client.
Sample pack services are a popular way for music producers and musicians to obtain high-quality sounds and loops for their compositions. There are several ways to make money with sample pack services. One way is to create and sell your own sample packs, either through your own website or on popular marketplaces. Another option is to offer custom sample pack creation services to clients. This requires working with clients to create unique and useful sounds and loops that meet their specific needs. Collaboration with other musicians and producers is also a way to make money, either by creating joint sample packs or by tailoring packs to specific needs. Additionally, offering additional services such as mixing and mastering, custom sound design, or sound library management can bring in revenue.
As an artist, it can be challenging to make a living from your passion. However, there are several alternative revenue models available to monetize your art and thrive as an independent artist. Music publishing, music synchronization, neighboring rights, music library, and sample packs are just a few ways to make money besides online streaming. It’s essential to understand the legal and copyright aspects of these revenue models, create high-quality music, and be business-savvy to turn your passion for music into a successful career. By utilizing these alternative revenue models, you can monetize your art, build a following, and increase your income as a musician.