If you are a DIY musician just starting out or working on
the next “break,” you have more than likely asked yourself (and your favorite
search engine), “How do musicians make money?” If you have not, you should do it
now.
More than likely, you will come across this Rolling Stone article
from 2012 in the top few results. It is an exceptionally interesting article, and
it has a few great tips. However, only some of the article actually applies to you,
the independent, start-up, DIY musician:
1. T-Shirts and Merch:
Oh yes! You will generate far more income from merchandise
than from the sale of music, especially if you are on the road. My mentor once said,
“no one is willing to pay to download [expletive meaning your music] anyway.” Many
start-up musicians are giving away their music just to get ahold of your email
address so that THEY CAN SELL YOU MERCHANDISE. If you cannot afford to front
the money for t-shirts and other gear, consider websites such as cafepress.com.
2. Movie and TV Licensing:
Less likely, but with the help of websites like musicpage.com, it is possible. With your subscription to the
website, you will receive daily emails with opportunities to license your music
for movies, commercials, and games. Most will be irrelevant, because the
licensor’s criteria are very specific, in a different genre, require two
versions of the song (with and without vocals, for example), but remember: it
only takes one.
3. Fashion Lines:
If you are reading this, you most likely do not have the
reputation needed to start a successful fashion line. However, if you have an
aptitude for fashion, do it! Tie it to your music, and create these products
simultaneously. Create a circular link between your music site and your
clothing site, and let them morph into one. A professional brand manager will
be essential.
4. Perfume:
Next.
5/6. Start-up Investing / KickStarter:
Crucial! Do your research on the recent developments
involving crowd sourcing, crowd funding, and crowd investing. They are rapidly changing arenas. Are you
looking for donations to fund an artistic endeavor? If that is the case, I
highly recommend kickstarter.com. Are you looking to fund a
cause? You might want to check out gofundme.com. The
success stories on gofundme are amazing and inspirational.
If you have a fantastically original idea, sound, new
instrument, or software program that needs manufacturing or duplication, you
might consider researching angel investors. Be warned: they expect 30-50%
return in two to three years, and you will lose some ownership in your idea /
company. Structure an equity repurchase deal upfront if possible.
There are hundreds of ways to raise money online. However,
make sure you read the fine print. If you do not want your project to be name-stamped
on the Internet forever, beware. Do you want all-or-nothing funding for your
project, or do you want partial funding at a higher commission rate? All of
these things are in the terms of service for each site. Please, read the terms
of service.
7. YouTube.
The funny thing about YouTube (Google) is
that they are the innovators of all things digitally video, and yet (as of this
writing), they have not figured out how to stop hack coders from ripping off
the audio portion of videos posted on the site.
However, the truth is, if you want to create a strong
presence for yourself or your band, you must be on YouTube. People are going to steal your art, so get used to
it. Look at it this way, if you receive five hundred thousand hits on your YouTube video and five hundred people rip off your song, you
are making strong headway. Those hits are five hundred thousand that you can
take to a minor record label to prove that you are worthy of a deal.
8. Instant Concert Recordings:
This was a cool idea, but break-even analysis says “no,”
unless you are just doing it to gain swag. The idea is relatively useless in
monetary terms.
9. Talk-Show Band:
Well, this is an avenue, I suppose, but probably the least
likely of all. Some fans will likely scream “sellout!” That is not necessarily fair, however. As much as we all
might cling to our musical ideals, at the end of the day, we still need to provide
for ourselves.
10. Not mentioned in the Rolling Stone article is one of the most obvious revenue streams in my opinion: ticket sales! Very few artists make a living in music without live performances. Touring is essential, and it is one of the most satisfying (and profitable) parts of the whole business.
Remember to try as many avenues as you can. You will be amazed at how your marketing efforts will begin to morph as you see which avenues work best for you.
Remember to try as many avenues as you can. You will be amazed at how your marketing efforts will begin to morph as you see which avenues work best for you.
