Creating music for yourself and your soul is, of course, a noble endeavour. But still, if music is not a hobby for you, but your life’s work, which you are doing seriously, then you want to earn serious money.
But how does a musician earn money in today’s world? Where do you get your money from? What is music monetization and why is it important for an artist?
In the past all an artist had to do to make money was tour and release records on a regular basis. But now this business is structured completely differently. Now artists have many different ways to make a profit from their work. That is, to monetize it.
Digital distribution
This is mostly about streaming. Now there are many small labels that are purely engaged in digital distribution and nothing else. That is, they do not provide additional services. They upload music to the site and request support for the release in Soundcloud, Spotify, wherever music is distributed.
Much depends on how many paid and free listens you get, how many times someone listens to a track, how many repeat listens, how many advertisers there were in free listens. The length of the track is also important. There’s a perception that a radio format around three minutes isn’t really going into a streaming platform anymore. The track should be no longer than two minutes or even a minute. It’s more likely to be listened to more than once.
The more auditions, the more mentions, the more interest in the artist, the more money you can make.
Each streaming platform has its own pay-out rates, its own maths. YouTube and Apple probably pay the most. YouTube also has synchronisation: if someone uses a track, the royalties are paid to the copyright holder.
Artists’ participation in the filming of TV series, movies, talk shows
This is more of an actor’s job – a kind of performance. For example, an artist comes to some program, puts on a show on prearranged terms or completely improvised. He can give an interview if there is a demand for it. Get involved in any kind of communication, any kind of movement.
Also, do not forget that for many popular artists it was participation in shows, entertainment programs and musical television projects that were their main impetus to fame.
Syncing
This is selling music to movies, games, TV shows, videos, commercials. There will be a normal price tag. And that’s the beauty of it: you don’t have to be famous to do it.
Crowdfunding
You have to have an idea, package it well, and get it right to your audience.
But crowdfunding is targeted fundraising. For something specific, not just to live. People should have a clear understanding that they are not just giving away their money for nothing, but in return they will receive some product from you.
Donations
Donations are just support. There are services like “patreon”, where a person is doing something, announcing a new song, rehearsing with someone, creating other media content. But their account can only be accessed by subscription.
We have exciting news: we have recently launched a crowd investing campaign on Seedmatch. For this, we are willing to give away a share of our company and future profits! Not to just anyone, but to you, our users and everyone who believes in the future of live music.
If you are interested in investing in our vision then click here to learn more about the campaign.
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