As a musician in the new era of Coronavirus, looking for online ways to make money with your music is the lifeline between success and failure.
Thankfully the internet has been the single most disruptive thing in the music industry.
Even as the Internet has played one of the most important roles in the careers of almost every musician on the planet, the novel Covid-19 crisis has now placed the industry in a place where the Internet is has become the only option to get to fans.
The unfortunate truth is that it could be a while before things get back to business as usual.
By that I mean, tours, live stage performances, festivals. All these have been a big bulk of income until recently, and to continue surviving, you have to start putting things in place to enable you to start making free online money making music, and doing what you love.
One positive to take out from is is that, after the pandemic, all actions you took to generate income will continue to pay you over a long period.
So how can your music start making money or you online in 2021?
Below are various ways of making money online to fund your music
1. Use your website to sell your music
You don’t have your artist website yet? Consider building one.
You get complete control as it gives you a tiny portion of the Internet you can call your own.
More than that is, you having ownership of data like emails, and phone numbers you gather through your website.
This is crucial to having success in the long term as these pieces of information can be used to keep your fans up to date with upcoming moves you are planning.
Like, release new projects, tour dates and venues, crowdfunding campaigns, and so on.
2. Distribute your music online through music retailers.
Digital downloads don’t sell as they used to, but you bet it’s still a powerful source of income for independent musicians.
Putting your music on top music stores like Amazon, Spotify, and iTunes makes you come across as a serious music artist.
These platforms help fans get to your music easily and also supply you with comprehensive analytics for your music.
3. Put your music up for streaming
Lately, most listening is taking place on prominent streaming sites like Soundcloud, Spotify, Google Music, and others.
What this means is that to reach old and new fans, your music should be available on these streaming platforms.
Though it’s going to take a while before income from streaming displaces the money musicians make from physical album sales in the past, but the streaming business keeps growing every year.
The income from music streaming is something you don’t want to miss out on as an indie artist.
Once you put out your songs on these streaming platforms, you want to boost your stream numbers with tricks like featuring on playlists, ads, and so on.
4. Monetize your YouTube channel
Any hardworking artist wants to make sure they get their share of Youtube money.
The first thing you need to do is set up your Youtube Channel and upload all your songs.
You then need to grow your channel subscription before you can be able to monetize your content.
The good news is that, whenever your songs are used on Videos anywhere on Youtube, whether your Channel or not, you get a piece of the money generated from it.
RouteNote or CD Baby help make sure music artists like you get all the money you deserve from your music hits your account.
You have an upcoming project and looking for ways to fund it? Crowdfunding is another valid way to do so.
Crowdfunding is a wonderful income source for funding your next music project.
The necessary ingredient to having a crowdfunding success is to generate enthusiasm within fans who engage with your content the most.
You do this by letting them in on your flip-side and show them what you do during your creative process.
This takes time to achieve as you need detailed planning and adequate budgeting to see it through. So don’t think this is a magic way of ending your cash flow problems.
6. Fan subscription
Making a living from music as an independent musician is one of the hardest things as income streams are so unpredictable.
Fan subscription also known as memberships is a dependable source of residual income which makes it a desirable alternative for musicians in times as uncertain as this.
Paid membership or fan subscription offer your loyal fans easy access to contents such as new releases, performances, merchandise, videos, and gifts in exchange of monthly donation.
7. Paid live stream shows
With event venues closed worldwide due to covid, music lovers are more ready to support musicians online at the moment.
Selling tickets to private live streams of your performances is a sure way to making free money from the comfort of your home as an independent musician.
Try out by dropping new music projects and playing through top-performing albums in its totality, and also allow fans to request songs to perform to be better engaged and enhance the experience of the fans.
8. Offering live streaming concerts for free with an online tip jar
If you think it is going to be hard asking for payments for live stream shows, you can as well host it for free On IG and Facebook Live and put up an online tip jar for fans to support you.
This could be as simple as giving out bank account detail or sharing Paypal.me, Flutterwave link or website link to your viewers.
You can choose to use platforms like Twitch which has built-in features for monetization.
9. Facebook and Instagram video monetization
Many music artists don’t know it is possible to cash in on their songs as they are used on Instagram and Facebook just as it is on Youtube.
You get paid when your music is used on IG Stories as well.
Music distribution companies can help you get your content monetized on social media.
10. License your music
This is no small fit. Getting your music licensed for shows, ads, and TV, but just a single placement can change everything for an artist.
Music licensing makes up a large or all of some music artist’s only source of income.
Striking the right music head with your music at the right time takes luck, but you can do this out of the box to put you in a better chance of making it happen.
You don’t have to implement all the ideas in this post at once. Evaluate your growth, understand the level you are at the month and implement some of the ideas that are realistic with your goals.
Start with the ones that you are enthusiastic about at the moment and focus on the things that appear to be working for you.