How To Make Money From Your Music (13 Best Tips)

If you're an active musician or you're just at the beginning of your music journey and you're wondering how you can make a living and manage a day job in the music business, this article is for you.

Musicians have autonomy today, over their paths compared to artists two decades ago. There are platforms and avenues to help you promote your music and generate income from it. The real question is; how can you make use of these resources to earn money from your creations?

It is also vital to remember to develop diverse streams of revenue in order to grow and build your music career.

Musicians and artists need to sign up with a PRO, which stands for a Performing Rights Organization, to ensure they get paid performance royalties, for their music. There's many Pro's around the world such as PRS, ASCAP, BMG, TONO and more. This step is essential for songwriters and publishers to receive compensation, for the usage of their music.

One type of royalties that PRO’s collect on your behalf is public performance royalties. When your track is played on television, radio, shopping malls or at any other public space, these places must pay for the use of your track when playing it. The PRO collects those payments and distributes the money accordingly. Payment is done on a quarterly basis, depending on the society you’re attached to.

How much money can you earn from collecting royalties from performing rights?

It depends

One emerging avenue that is gaining popularity involves creating music, for production library websites. These platforms serve as a connection between composers and filmmakers content creators and media professionals seeking top notch soundtracks for their projects. If you're a musician aiming to expand your revenue streams and showcase your skills here's how you can earn income by composing music for production libraries:

Before jumping in, take the time to explore the world of production libraries. Familiarize yourself with the types of music in demand popular genres and the specific criteria of each platform. Understanding the industry will enable you to tailor your compositions to meet clients needs. Find out about the best production music catalogs.

Quality is key in the realm of production music. Ensure that your compositions are refined expertly mixed and mastered according to industry standards. Invest in top-tier recording gear and software to create tracks that stand out among competitors. Remember, your music is a reflection of yourself so strive for excellence.

Don't confine yourself to one genre or style.

Creating libraries for production involves serving an array of projects, such as documentaries, commercials, films, and video games. To attract an audience, it's essential to enhance your music library with genres, different moods, and emotions. By offering a range of options, you increase your chances of generating sales opportunities.

It's called beats, but it's more like grooves, or instrumental tracks.

On some websites, it is possible to sell your tracks to artists worldwide. You can sell your beats on websites like BeatStars and Airbit. This means you're giving permission for other artists to sing, rap, or play to your beat.

The demand for original sounds is unending across genres such as trap, hip-hop, and EDM.

An artist can earn anything depending on so many different things, like how good they are at making them or the amount spent in making this known to many people—reputation and level of skill are some examples, among others.

When your own music is uploaded onto TikTok, you will be giving millions of TikTok users consent, allowing them to use your music when creating their videos.

Earnings are calculated based on the number of views your video was placed on, and set out in the contract between your digital distributor and TikTok. This will only occur when someone uses your song in their video.

The amount you are paid can vary depending on your digital distributor. TikTok videos can be between 15 and 50 seconds in length, which can therefore further affect the value of your royalties. If you choose to upload your content without using a digital distributor, you won't receive any royalties, this is because digital distribution services are responsible, for collecting earnings according to the agreement between TikTok and these platforms.

Determining the amount of revenue one can earn on TikTok is challenging due to factors that impact earnings. The average royalty payment, per video featuring your music was around $0.030.

Based on this information, if your song was used in different videos 10,000 times, you would make approximately $300, that's not bad.

But how do you get your music on viral TikTok videos and generate streams? You can use a service like One Submit to submit your music to TikTokers, which has millions of followers.

Our TikTok music promotion offers artists the opportunity to submit music to TikTok creators, from 500K followers up to 4.8 million followers; these could generate hundreds of thousands of views on TikTok and could generate nice stream of royalties.

TikTok tends to pay bi-annually or annually, depending on your music catalogue size.

Nobody is selling music digital downloads today, it's almost gone from this world. If you plan to sell CDs, you'll find it very hard finding clients.

Most of the online music revenue comes from streaming services, so if you write songs and release them on streaming services, this could be an additional source of income for you, once you've managed to generate streams.
 

Having your music available on streaming services is a "must-have" for your success as an artist. Your fans need to be able to stream your latest singles. Number of streams will effect the amount of revenue you earn through streaming.

Spotify, Apple music, Deezer and Tidal are paying mechanical royalties. Spotify for example, is currently one of the most popular music streaming platforms that you can use to upload your music to, but it pays less then everyone else per stream.

Spotify pays an artist $0.003–$0.005 per stream. The exact number Spotify pays on certain variables, such as the country of the stream, the percentage of streams you bring into Spotify, and the time spent listening to your song. you can read more on how much Spotify pays per stream in 2024

Spotify pays you according to what they call Stream Share. Stream Share looks at the total number of streams on Spotify in a country during a 1-month period. This assists Spotify in determining and calculating what proportion/percentage of those streams were yours. Stream share determines your slice of the revenue from a really large pie. If your average per stream is $0.004, this means 250 streams will earn you $1 on Spotify.

Earnings vary depending on whether you are signed to a label or if someone has writing or recording rights to your music.

Basically, in order to get more streams, you will need to get on more Spotify playlists. Read more about Spotify playlist submission

Selling merchandise can help musicians make a lot of money. Artists can sell things online and at their live shows to promote themselves and make money.

Artists can make money by selling their work online. They can use websites like Etsy and Depop to do this. Artists can use these tools to make their own online store without having to build a brand new website. You can sell music CDs, stickers, hats, sweaters, and other things on your own Etsy shop.

This allows for the artist to sell online, generate more revenue and connect with their fan club by allowing them to purchase merchandise wherever and whenever.

Selling merchandise at your live shows would be to go stand by the merchandise stand after you are finished performing. This will give your audience an opportunity to meet you and, at the same time, drive sales of your merchandise, as your fans will possibly ask you to sign their merchandise. T-shirts, caps, hoodies, mugs and buttons are usually popular sellers amongst fans. You can place someone on your behalf at the stand if you’re shy..

Merchandise is an underrated revenue generator that should be prioritised by any music artist trying to make it in the music industry. By the way, some artists sell music online in a form of limited edition record vinyls.

Live performances are widely regarded as an avenue, for generating income in the music industry. With the decrease in coronavirus cases in 2022, musicians worldwide are gradually returning to the stage for live shows. This resurgence presents a chance for artists to showcase their talent again. It's known that more gigs and increased merchandise sales translate to earnings.

Live gigs at music venues, bars, music festivals, and private events, like weddings, provide opportunities for musicians to expand their fan base, make money, and promote their music all in one go. Additionally, corporate functions and private gatherings can also be financially rewarding.

An easy way for independent artists to effectively advertise their live shows and gigs is to post a flyer up on community bulletin boards. Artists are also able to post flyers in public parks, on trees, and on utility poles in order to freely advertise their shows, allowing them to have more listeners and a greater audience. You can also create music videos from your live shows and post it on your YouTube channel and social media.

By the way, corporate events are also a great way to get paid for your live show.

You can start by researching music companies, they tend to appreciate live shows better then any other company.

Recently, small concerts held in living rooms have become a choice, over music venues, providing artists and music fans with a cozy and genuine experience. These informal gatherings, typically hosted in someone's home, create an atmosphere for musicians to engage with their audience on a level while showcasing their talent in a laid back environment. Additionally, they offer a path for artists to not only share their music but also earn income in an industry known for its tough competition.

Living room concerts come with advantages for musicians looking to establish themselves in the music scene. Firstly, they offer a platform for artists to perform in a setting that fosters connections with the audience.

Unlike venues where the performer's audience can feel distant, concerts promote closeness and camaraderie, leading to memorable experiences, for everyone involved.

Furthermore, these cozy gatherings allow artists to engage with their fans on a level, forming relationships that can turn into dedicated supporters and sustained success. By performing in someone's living room artists have the opportunity to connect closely with their audience, creating a sense of community and mutual appreciation that can be lacking in more impersonal venues.

Financially, artists can directly make money from their fans through ticket sales, merchandise purchases, or voluntary contributions. This direct interaction allows artists to monetize their music effectively and sustainably.

Apart, from the advantages living room concerts give artists greater creative freedom compared to conventional settings. Without the restrictions of venues artists can design their performances as they wish by trying out formats, setlists, and arrangements.

This flexibility enables them to offer fas a memorable experience—whether its a set, a stripped down performance or an intimate storytelling session—showcasing their music authentically and true to their artistic vision.

Check out sofaconcerts.org, it's a fantastic live music booking platform 

For musicians seeking to expand their sources of income and share their love, for music with others providing lessons can be a fulfilling endeavor.

Offering lessons gives artists a chance to not boost their earnings but also build personal connections with students while passing on valuable skills and knowledge.

Giving lessons in person remains a choice for musicians who want to share their expertise with budding musicians in their community.

Check out the rates for music lessons in your area. Set your prices accordingly. Take into account your level of experience, expertise and the local demand for music education when deciding on your fees.

Encourage students to commit to lessons by offering package deals or discounted rates for bookings. This not motivates students to continue with lessons over time but also ensures a consistent income stream for you as a teacher.

Encourage your students to refer their friends and family members by providing rewards like discounted lessons or complimentary sessions, for referrals.

In todays tech world the demand, for learning options has led to a surge in the popularity of online lessons. When choosing a platform for hosting your virtual music classes, opt for one that's reliable and easy to navigate. You have a variety of options, from using video conferencing tools like Zoom and Google Meet to specialized platforms tailored for online music education.

To reach an audience utilize media, your website, and online ads to promote your virtual music lessons effectively. One of the benefits of music lessons is the flexibility they offer for both teachers and students. Take advantage of this by providing scheduling options, including evenings and weekends to cater to students busy schedules and time zone variations.

Improve the learning experience for your learners by offering top notch resources such, as videos, sheet music and practice materials. Consider establishing an portal or resource center where students can access supplementary materials at their convenience.

If you're a music producer with ability to produce great songs with a unique sound and high music production skills, this might be a good option for you. You can use your skill set as a producer to hire and produce songs to other artists.

Try to stay focused on your music genre and offer your services to artists within your genre. In other words, if you're a hip-hop producer, don't offer your service to folk artists. make sure you have recent work of your music online. You can use websites like Soundbetter, they connect artists with music providers, such as instrument players, singers, and music producers.

Simply register and upload your work, description, and prices, Start with low prices to gain rating and recognition, some vendors have made a lot of money from the platform.

The next two tips are for the more advanced artists, who already have a decent amount of fans.

Offering a membership subscription to your fans gives them the opportunity to access your exclusive music, rewards and content via your website for only a small fee per month. Fans for example, can have access to your entire discography, early access to any new music releases and merchandise discounts. This can give loyal fans an incentive to subscribe to the membership.

Subscriptions to these memberships can be incredibly rewarding for you. This can really assist you in creating a steady source of income for you in the long term.

Engaging with brands offers artists a unique opportunity for them to exhibit their music and attract increased audience interest. To earn substantial income working with a brand of your choice.

However, it is necessary to weigh down the benefits of being a brand ambassador against potential pitfalls associated with some firms associated with it. This is because your reputation as an individual coupled with the image of the company you are working for will depend on such a move.

You will probably have to do some marketing for the brand in form of sponsored posts on your social media platforms or selling at your concerts. when targeting elite old ventures like Yamaha or Marshall ensure you are already popular and have a sizable number of followers on social media particularly to musicianships. It’s advisable for upcoming musicians to approach random clubs

As a new artist, it's a good idea to contact local and smaller brands and try to work out a deal with them. The rewards won't be as big as you want, but everyone has to start somewhere.

It's important to work with a brand that matches your image as a musician. Be yourself as an artist and don't change who you are just to please others.

Good Luck!

Some useful links are here:

Check out the best music promotion services for independent artists

Visit our Spotify promotion plan to learn how to submit music to Spotify playlists.