As a musician, you are not only passionate about your craft, but you’re probably looking to make a living from it.
But, relying solely on gigging may not always be enough to sustain your income. That’s why it’s improtant to diversify your income streams and explore other ways to generate extra cash.
In this blog post, we will explore 20 different ways musicians can monetize their skills and boost earnings.
Ways To Earn Extra Cash As A Musician
1. Live Performances.
Performing at local venues, cafes, restaurants, weddings, parties, and events can be a lucrative way to earn money as a musician. You can charge performance fees, accept tips, and sell merchandise to maximize your earnings.
To book more gigs and increase your income, consider networking with venue owners, promoting your shows on social media, and providing an outstanding performance that resonates with your audience.
2. Streaming Platforms.
Distributing your music on popular streaming platforms like Spotify, Apple Music, and YouTube can help you earn royalties based on plays and build a fanbase.
To make the most out of streaming platforms, optimize your music for discoverability by using relevant keywords and tags, engaging with your fans, and promoting your music through social media and email newsletters.
3. Merchandise Sales.
Selling branded merchandise such as t-shirts, posters, and other items at live shows or online can be a profitable revenue stream for musicians. Create a merch line that resonates with your fans and reflects your brand identity.
Consider offering limited edition items, bundling merchandise with your music, and leveraging social media and your website to promote and sell your merchandise.
4. Online Concerts.
Organizing virtual concerts or live streaming performances can be a creative way to connect with your fans and earn money. You can charge admission fees or accept donations from your fans to support your music. Utilize online platforms and tools like Patreon, YouTube, or social media platforms to host successful online concerts. Consider offering exclusive content or special experiences to entice your fans to support your online concerts.
5. Session Work.
Offering your services as a session musician for recording sessions, live performances, or studio work can be a lucrative way to generate extra income.
Build a reputation as a reliable and skilled session musician by networking with industry professionals, showcasing your skills, and delivering high-quality work.
You can find opportunities for session work through music agencies, studios, or online platforms, and negotiate fees based on your experience and expertise.
6. Teaching Music Lessons.
Offering private music lessons or group classes to beginners or aspiring musicians can be a rewarding and profitable venture. Set up rates, schedules, and lesson plans that align with your expertise and target audience.
Market and promote your music lessons through social media, your website, and word-of-mouth to attract students. Consider offering special promotions or discounts to incentivize new students to sign up for lessons.
7. Licensing Music.
Licensing your original music for use in commercials, films, TV shows, video games, and other media can be a lucrative way to earn royalties and gain exposure.
Familiarize yourself with the licensing process, including copyrights, royalties, and licensing agreements. You can use platforms and resources like Musicbed, Songtradr, or licensing agencies to find opportunities that align with your music style and genre.
8. Crowdfunding.
Using crowdfunding platforms like Kickstarter or Patreon can help you raise funds for music-related projects such as recording albums, producing music videos, or going on tour.
Create compelling campaigns that resonate with your fans and offer unique rewards or experiences in exchange for their support.
You can promote your crowdfunding campaign through social media, email newsletters, and your website to engage your fans and encourage them to contribute.
9. Songwriting.
Songwriting is not just about creating music for your own band or solo career. You can also write and sell original songs for other artists, bands, or media projects.
Building a portfolio of songs and pitching them to potential buyers, such as music publishers or artists looking for new material, can be a lucrative way to earn extra cash.
When negotiating songwriting fees and royalties, make sure to research industry standards and protect your rights as a songwriter by registering your songs with a performance rights organization (PRO) like ASCAP, BMI, or SESAC.
10. Jingles and Commercials.
Composing and recording jingles or music for commercials is another opportunity for musicians to earn extra cash.
Many companies and advertisers are constantly looking for catchy and memorable jingles to enhance their brand or products.
You can find opportunities for jingle and commercial work by networking with advertising agencies, production companies, or through online platforms that connect musicians with clients.
Pricing and licensing considerations for jingles and commercials can vary, so be sure to research and negotiate fair rates based on the scope and usage of the project.
11. Music Production.
If you have skills in music production, you can offer your services to other artists or bands. Music production involves recording, editing, mixing, and mastering music to achieve a polished and professional sound.
Building a portfolio of successful productions that showcase your skills and style can help you attract clients. Marketing and promoting your music production services can be done through social media, networking events, and online platforms for music professionals.
Providing excellent customer service and delivering high-quality productions can lead to repeat business and referrals.
12. Soundtracks for Podcasts and Videos.
With the increasing popularity of podcasts, videos, and other digital media, there is a growing demand for original music to accompany these productions.
Creating and licensing original music for use in podcasts, videos, or other digital media can be a profitable venture for musicians.
Building relationships with content creators and media producers through networking events or online platforms can lead to ongoing opportunities.
There are also specialized platforms and resources, such as Musicbed, Soundstripe, and Epidemic Sound, that connect musicians with content creators looking for music for their productions.
13. Music Transcription.
Transcribing sheet music or creating sheet music arrangements for other musicians or bands is another way to earn extra cash.
Many musicians and bands need sheet music for their performances, recordings, or educational purposes, and they may not have the time or expertise to transcribe the music themselves.
Building a portfolio of transcriptions and arrangements that showcase your skills and versatility can help you attract clients.
Pricing and marketing considerations for music transcription services can depend on the complexity and length of the music, as well as the intended usage and rights.
14. Music Consulting and Coaching
As a musician with years of experience, you possess valuable industry knowledge that can be shared with others.
Offering consulting or coaching services can be a rewarding way to earn extra cash while helping aspiring artists, bands, or musicians navigate the music industry. Here are some tips to get you started:
A. Define Your Expertise.
Determine the specific areas in which you excel and can provide guidance. It could be songwriting, music production, marketing, branding, or performance skills. Identify your strengths and expertise, and build your consulting or coaching services around them.
B. Set Up Rates and Packages.
Decide on your pricing structure for your consulting or coaching services. You can offer hourly rates, package deals, or project-based pricing. Research the market rates in your area and industry to ensure your pricing is competitive and fair. Consider offering introductory discounts or bundled services to attract clients initially.
C. Develop Marketing Strategies.
Promote your music consulting or coaching services through various marketing channels. Create a professional website or social media profiles to showcase your expertise and services.
You can use email marketing, content creation, and social media advertising to reach potential clients. Network with other industry professionals and attend music events to expand your reach.
D. Provide Value.
Focus on delivering value to your clients. Offer practical advice, actionable strategies, and personalized guidance to help them achieve their music career goals. Listen to their needs and provide tailored solutions.
Building a reputation as a trusted and knowledgeable consultant or coach will lead to repeat business and referrals.
15. Music Equipment Rental.
If you own a collection of music equipment that is not in constant use, renting it out to other musicians or bands can be a profitable venture. Here are some tips for starting a music equipment rental service:
A. Manage Logistics.
Set up a system to manage the logistics of renting out your music equipment. Keep track of the availability, condition, and maintenance of your equipment. Create rental agreements that outline the terms, conditions, and responsibilities of both parties. Consider obtaining insurance to protect yourself from any damages or liabilities.
B. Price Appropriately.
Research the market rates for music equipment rental in your area and price your services competitively. Consider the value, condition, and demand for your equipment when setting your rates. Offer discounts for longer rental periods or bundled packages to attract customers.
C. Market Your Services.
Promote your music equipment rental service through various marketing channels. Create a website, social media profiles, or online listings to showcase your inventory and rental policies.
Network with local musicians, bands, and event organizers to spread the word. Offer exceptional customer service to build a positive reputation and generate repeat business.
D. Maintain Your Equipment.
Keep your music equipment in top condition by conducting regular maintenance and repairs. Clean and inspect your equipment before and after each rental to ensure it is in proper working order. Respond promptly to any issues or complaints from customers to maintain their satisfaction and trust.
16. Music Therapy.
If you have a background in music therapy, offering therapeutic music services can be a meaningful way to earn extra cash while making a positive impact on individuals or groups. Here’s how to get started:
A. Obtain Proper Training and Certifications.
Music therapy is a specialized field that requires proper training and certifications. Research the requirements in your area and obtain the necessary credentials to practice as a music therapist.
This may include completing a formal music therapy program and obtaining certifications from recognized organizations.
B. Find Opportunities.
Identify potential settings where music therapy services may be in demand, such as hospitals, schools, rehabilitation centers, nursing homes, or community organizations.
Reach out to these settings and inquire about their need for music therapy services. Offer to provide presentations or demonstrations to showcase the benefits of music therapy.
C. Market Your Services.
Create a professional website or online profiles to promote your music therapy services. Highlight your qualifications, expertise, and the benefits of music therapy in your marketing materials.
Also, use social media, email marketing, and networking to spread the word about your services. Consider offering free consultations or introductory sessions to attract clients.
D. Customize Your Approach.
Each client or group may have unique needs and goals for their music therapy sessions. Tailor your approach to meet their specific requirements.
Use music to facilitate relaxation, emotional expression, communication, or cognitive skills development, depending on the needs of your clients.
Provide a safe and supportive environment for them to explore and engage with music.
E. Build Relationships.
Music therapy is a highly personal and individualized service. Build strong relationships with your clients and their families or caregivers. Listen to their concerns, goals, and progress.
Provide regular feedback and updates on their music therapy journey. Word-of-mouth referrals from satisfied clients can be a powerful marketing tool for your music therapy services.
17. Online Music Lessons.
In today’s digital age, online music lessons have become increasingly popular and convenient for both students and teachers.
If you have expertise in a particular musical instrument or skill, offering online music lessons can be a profitable venture. Here’s how to get started:
A. Choose Your Platform.
There are several online platforms that cater to music lessons, such as Skype, Zoom, or specialized music lesson platforms. Choose a platform that best fits your needs in terms of features, ease of use, and pricing.
B. Set Up Your Lessons.
Determine the structure and content of your music lessons. Develop lesson plans, exercises, and learning materials tailored to the needs and level of your students.
Decide on the duration, frequency, and pricing of your lessons. Consider offering different lesson packages or discounts for longer-term commitments.
C. Market Your Services.
Create a professional website or online profiles to showcase your music lesson services. Highlight your qualifications, teaching style, and testimonials from previous students.
Remember to use social media, online advertising, and word-of-mouth to promote your lessons. You can also offer free trial lessons or introductory discounts to attract new students.
D. Provide Engaging Lessons.
Conduct your online music lessons in a professional and engaging manner. Utilize multimedia tools, such as videos, recordings, or interactive exercises, to enhance the learning experience.
Provide constructive feedback, encouragement, and guidance to help your students progress in their musical journey.
E. Build a Reputation.
Focus on building a strong reputation as a knowledgeable and effective music teacher. Encourage your students to provide reviews and testimonials. Continuously improve your teaching skills, update your lesson plans, and adapt to the needs of your students. Satisfied students are more likely to recommend your services to others and generate repeat business.
18. Music Event Planning.
If you have a knack for organizing and coordinating events, music event planning can be a lucrative business opportunity.
From concerts and festivals to private parties and corporate events, there is a constant demand for skilled event planners in the music industry. Here’s how you can get started:
A. Gain Experience.
Prior experience in event planning or music industry is beneficial but not always necessary. If you are new to the field, consider volunteering or interning with local music events to gain practical experience and learn the ropes of event planning.
B. Develop Your Expertise.
Familiarize yourself with the various aspects of music event planning, including budgeting, venue selection, vendor management, logistics, marketing, and legal requirements.
Stay updated with the latest trends and technologies in the music event industry. Attend workshops, conferences, or online courses to develop your skills and knowledge.
C. Build a Network.
Networking is crucial in the event planning industry. Build relationships with musicians, bands, event venues, vendors, and other industry professionals.
Attend music events, join industry associations or communities and participate in music-related forums or groups to expand your network.
Word-of-mouth recommendations and referrals from industry contacts can be invaluable in growing your music event planning business.
D. Create a Business Plan.
Develop a comprehensive business plan that outlines your services, target market, pricing, marketing strategies, financial projections, and contingency plans. This will serve as a roadmap for your business and help you make informed decisions as you move forward.
E. Market Your Services.
Utilize various marketing channels to promote your music event planning services. Create a professional website that showcases your portfolio, testimonials, and services.
Utilize social media, online advertising, and content marketing to reach your target audience. Attend industry events, trade shows, and networking functions to establish your brand and generate leads.
F. Provide Excellent Service.
As an event planner, your reputation is everything. Provide exceptional service to your clients by paying attention to their specific needs, providing creative solutions, and handling all the logistics and details of the event seamlessly.
Going above and beyond for your clients will earn you repeat business and referrals, which are essential for the success of your music event planning business.
G. Stay Organized.
Event planning requires meticulous organization and attention to detail. Keep track of all the aspects of your events, including budgeting, contracts, timelines, vendor communications, and client preferences.
Utilize project management tools, calendars, and checklists to stay organized and ensure that everything runs smoothly.
H. Be Flexible and Adapt to Changes.
The music event industry can be unpredictable, with last-minute changes, emergencies, and unexpected challenges.
So, be prepared to adapt to changes and problem-solve on the go. Keep a backup plan in place for unforeseen circumstances and maintain open communication with your clients, vendors, and team to ensure a successful event.
I. Build Relationships and Collaborate.
Collaboration is key in the music industry. Build relationships with musicians, bands, event venues, vendors, and other event professionals. Foster a collaborative approach and create partnerships that can benefit both parties. This can lead to more opportunities, referrals, and a stronger presence in the music event planning industry.
19. Music Blogging or Vlogging.
If you are a musician and you have a passion for music and enjoy writing or creating videos, starting a music blog or vlog can be a fulfilling and potentially lucrative business opportunity. Here’s how you can get started:
A. Choose Your Niche.
The music industry is vast, so it’s important to narrow down your focus and choose a specific niche for your blog or vlog. This could be a particular genre of music, a specific instrument, music reviews, tutorials, or industry news. Select a niche that aligns with your interests and expertise, and that has an audience demand.
B. Create Engaging Content.
The success of your music blog or vlog relies on creating high-quality and engaging content. Develop a content strategy that includes regular blog posts, videos, podcasts, or other multimedia content.
Provide value to your audience by sharing your insights, knowledge, opinions, and unique perspective on music-related topics.
C. Build Your Brand.
Create a strong brand for your music blog or vlog. Develop a unique name, logo, and visual identity that reflects your niche and target audience. Create a professional website or YouTube channel, and utilize social media to promote your content and engage with your audience.
D. Monetize Your Content.
There are several ways to monetize your music blog or vlog. You can earn revenue through advertising, sponsored content, affiliate marketing, merchandise sales, or crowdfunding.
Explore different monetization strategies and choose the ones that align with your brand and target audience.
E. Engage with Your Audience.
Building a loyal audience is crucial for the success of your music blog or vlog. Respond to comments, messages, and inquiries from your audience, and actively engage with them through social media, newsletters, and other communication channels.
Create a sense of community and foster relationships with your audience by consistently providing valuable and engaging content.
F. Network and Collaborate.
Collaborate with other music bloggers, vloggers, musicians, and industry professionals to expand your reach and audience.
Cross-promote each other’s content, participate in collaborative projects, and attend industry events to network and build relationships.
This can help you gain more exposure and credibility in the music industry.
G. Stay Updated with Industry Trends.
The music industry is constantly evolving, so it’s important to stay updated with the latest trends, news, and developments.
Keep yourself informed about the music industry through industry publications, websites, forums, and social media. Stay ahead of the curve and provide fresh and relevant content to your audience.
H. Employ SEO Strategies.
Search engine optimization (SEO) is essential for driving organic traffic to your music blog or vlog.
Optimize your content with relevant keywords, meta tags, and descriptions to improve your search engine rankings.
This can help increase your visibility and attract more visitors to your website or YouTube channel.
I. Be Authentic and Genuine.
Authenticity is key in the music industry. Be true to yourself and your unique voice when creating content for your music blog or vlog.
Build a genuine connection with your audience by sharing your personal experiences, stories, and insights. Authenticity can help you build trust and loyalty with your audience.
J. Stay Consistent and Persistent.
Building a successful music blog or vlog takes time and effort. Stay consistent in your content creation and publishing schedule, and persistently promote your content through various channels. Be patient and stay committed to your passion for music and your business goals.
20. Music Licensing.
Music licensing involves granting permission to use music in various media productions such as films, TV shows, commercials, video games, and online videos.
If you have a knack for finding the right music for different types of media and negotiating licensing agreements, starting a music licensing service can be a profitable venture.
To start a music licensing service, create a database of music tracks from various genres and styles.
Research and curate a diverse collection of music that can cater to different media production needs. Ensure that you have the necessary licenses and permissions from the copyright owners to use the music for licensing purposes.
Market and promote your music licensing service to media producers, filmmakers, advertising agencies, and other potential clients. Create a professional website showcasing your music library, licensing options, and pricing.
Use social media platforms, email marketing, and industry directories to reach out to potential clients. Attend industry events, conferences, and workshops to network and build connections with potential clients or partners.
When negotiating licensing agreements, consider factors such as the duration of use, territory, media platforms, and the scope of the license.
Price your licensing options competitively based on market rates and the value of the music tracks. Clearly outline the terms and conditions of the licensing agreement, and ensure that both parties understand and agree upon the terms.
Stay updated with the latest music licensing trends, laws, and regulations to ensure compliance and provide accurate information to your clients. Keep track of your licensing agreements, payments, and royalties to ensure proper accounting and revenue generation.
Consider offering additional services such as custom music composition or synchronization services to provide more value to your clients and increase your revenue streams.
In conclusion, the music industry offers various business opportunities for those with a passion for music and a entrepreneurial spirit. Whether it’s starting a music consulting and coaching business, or creating a music blog or vlog, success requires careful planning, hard work, and dedication. By following these tips and strategies, you can turn your passion for music into a thriving business venture.
Here’s some more reading if you’re in the mood:
- Music Business Consulting: How to Offer Your Expertise and Earn Extra Income
- Creating and Selling Online Music Courses: Share Your Skills and Earn Money
- Getting Sponsored by Brands: How to Secure Brand Partnerships as a Musician
- Monetizing Your Fan Base: Tips for Building a Sustainable Music Career
- Creating and Selling Sample Packs: A Passive Income Source for Music Producers
- Music Blogging and Podcasting: How to Monetize Your Music Content
- DIY Music Distribution: How to Keep More Profits from Your Music Sales
- Music Publishing: Understanding Royalties and Maximizing Your Income
