As working musicians we always want to be able to get the most money that we can from doing what we love to do. Sometimes there are ways to go about it that aren’t right smack in front of your face. Here are a few not so obvious money making streams for musicians to help put some money in that bank account of yours.
One of the most popular ways is the Master/Sync License. Let’s break this down for you. If you wrote, recorded (or paid to record) you are the songwriter, the producer and the label. Guess what? You now have an advantage over any major label. You can now negotiate a deal for this license. The world is always looking for music to put in TV shows, commercials, movies, video games, you name it, they need it. This is where a large sum of money can come from at one time. The more places you get your music into, the more money your songs will be worth. Usually for your first song you can get about $2,500. After that point you are looking at a minimum of about $6,000 a song. Quick and easy money considering the songs are already finished and you just have to submit them.
YouTube Monetization is another great way for you to make money. All you have to do is upload a good video of one of your songs and allow Google to place an advertisement about 15 seconds before the video starts to play. It’s as simple as that and you collect a percentage of each time the advertisement is played. You do absolutely no work and you get paid, while people can still listen to your music. This is a total win, win.
Try making instrumental music. A lot of advertising and marketing companies are looking just for instrumental music to play behind their commercials and ads. It’s a great way to give you diversity and to add to your catalogue.
There are many ways that you can make money in the music industry without doing much. Everything takes just a little research and obviously some good music. Give these options some consideration.