Musicians have better control over their career now than ever before. But ultimately the main concern for the musician is how to make money. Here in this guide, we have come up with new ideas that encourage artists and compel them to try Music Stock Exchange Sweden and blockchain based trading platform.
According to some information available on many online sources, a musician’s income varies widely. Musicians make the majority of their income via streaming along with income live concerts. Streaming is now the primary source of revenue for independent musicians.
Streaming continues to be the source of a larger percentage of earning for musicians. Considering that streaming music payout is measured in a fraction of pennies, but it is now vital for the musician to find new ways to generate revenues to make a sustainable career.
How can a musician make money?
We have mentioned some of the revenue sources below, you can check the details. Some ways could be obvious and some of them might be new but hopefully, the following ways can help a musician to get some ideas to generate more income:
CDs: Though the sales of CDs continue to drop, it is still a revenue generator for artists in many genres. If you are planning to perform a live show, having CDs with you might be a good idea. CDs are very low cost to produce and the artist can easily sign them for their fans.
Vinyl: The sales of vinyl still continue in the digital music era. It is because many music lovers still prefer a physical souvenir for music. Just ensure to factor in the cost of producing vinyl and shipping it, it could be significant.
Digital downloads: The digital downloads are going from the same phase as CDs. The sales of digital downloads have gone down as the streaming music platforms have become more popular. But still, like the CDs, digital download remains a source of income for many independent artists.
Selling digital download you must ensure that you sell it to your fans directly through the website. It will not only help to earn money but will also provide you with the valuable mail addresses. You will be able to notify your fans about new releases, upcoming live show and much more.
Streaming income: Streaming music could prove a tender topic for musicians and writers. The payout generated through streaming music is very low but it can add up to become a specific source of revenue over time for musicians.
Additionally to streaming music being a revenue source it is also considered for music search. The streaming music platform offers actionable data that can be used by the musician as the marketing source for their music and booking gigs.
Live performance-original music: The best way for a musician to earn money is to perform live, it helps in generating a quarter of total income for independent musicians.
Today there are many venues available for a musician to perform their original music. These include conventional music venues, bars, restaurants, club, colleges, and music festivals.
Live online shows: The online live performance helps a musician to reach out to the fans across the globe where they might not be able to reach while being on tours. Additionally, it is a great way to earns extra revenue.
The musician can broadcast their live show from the comfort of being at home. Fans could pay to get an entry for live stream.
You can also find a trading platform where you can tokenize your assets. These platforms share fund with you, so keep creating value of your own music. When you sell or buy music rights, you should look for the best platforms like Zeptagram.