You have the passion and dream of making money off of your tracks, but how can you turn your songs into a permanent source of income?
What’s good is you can earn from various sources and not just streaming, if you use the right music distribution services. But let’s get into more detail on this.
Streaming Royalties: Get Paid Immediately After Each Play
With your music distributed on platforms like Spotify, Apple Music, and Amazon Music, you earn money every time someone plays your song. But can you estimate how much you actually receive? Here’s a rough estimate per stream:
- Spotify – $0.003 – $0.005.
- Apple Music – $0.007 – $0.01.
- Amazon Music – $0.004 – $0.006.
While a few cents per stream may not sound like much, take note that it adds up, especially when your songs get included in playlists or go viral!
Also Read: How to Grow Your Music YouTube Channel: Paid Packages and More?
Sync Licensing: Get Your Music in Television, Films, and Advertisements Soon
Have you ever heard a song in a movie, a commercial, or a video game and thought, “That should be me“? Yes, that’s sync licensing! As highlighted by Shopify, artists are able to grant licenses for their songs to be used by companies, film producing studios, and even YouTube creators.
This could earn a load of cash for independent artists: streaming, sync and sales can help you make money. Some music distribution providers even help place your music in the sync libraries to increase your chances.
Selling Music Directly to Fans
Although streaming is hugely beneficial, selling directly to fans might actually be more lucrative for some artists. Bandcamp, Shopify and even self-hosted sites enable fans to purchase digital downloads, CDs, or vinyl records.
The icing on the cake is that you keep all the earnings! T-shirt and digital album bundles can also do well and provide ample for merch sales.
YouTube Monetization – Earn from Your Music Videos
YouTube assists artists financially through its Content ID system. A creator using your song in their video gives you ad revenue and music videos can also be monetized through ads.
If your fanbase is large enough, you could also facilitate YouTube memberships and earn more through super chats during your livestreams.
Crowdfunding & Fan Support
Various artists make a living using tools like Patreon, Kickstarter, or even fan subscriptions. Listeners that appreciate your music just might back you by helping monetarily each month for exclusive perks including early access to songs or personal shout-outs.
These platforms for fan support let artists gain a consistent income while keeping complete control of their craft.
Also Read: How Music Motivates the Brain to Learn?
To Sum Up
It is possible to earn money in the music industry, but you have to plan strategically. The right music distribution service will help you to maximize your profits. You can make money from streaming, sync deals, direct sales, and even from fans.
Having multiple income sources ensures that you are financially secure. Are you ready to earn money? Distribute your music, and watch the earnings come in!
