These days musicians make money in so many different ways
than in the past. And they do it with ease. Here are the streams of income:
1.
Brand ambassadors: in attempt to promote their
business, big companies often use music stars to run an advertisement. For
instance, Wizkid and Tiwa Savage are Pepsi brand ambassadors.
2.
CD Sales: if you have a CD on hand when you are
playing live shows, then you make some money.
3.
Digital sales: in this case you sell your music
in your website. Online retailers will also assist to sell your music.
4.
Live Shows: this is one major way of making
money by selling tickets
5.
Revenue from merchandise: if you have items like
t-shirts, buttons and stickers to sell after live shows, then you will make
additional income.
6.
Other digital items: this includes PDFs, videos,
lyric books, exclusive photos and artwork. You could sell all of these.
7.
Publishing royalties: you need to sign up with a
performing rights organization so you can collect royalties on your music.
8.
Digital royalties: if your music is played on
radio and TV, you must collect royalties.
9.
Live performance royalties: if you perform at a
bar, restaurant, club or other music venue be sure to collect royalties.
10.
Licensing: the need to play your song in a film,
commercial, or TV shows may arise. So make sure you collect a licensing fee.
11.
Youtube: whenever your music is used in videos
that are running ads, Youtube pays a portion of that advertising money to the
right holders of the song. Take note of these digital distributors: Tunecore,
CD baby and Audiam.
12.
Sponsorships: some companies are willing to
sponsor musicians to reach their fans better
13.
Songwriting or composing: if you write songs for
other musicians or compose music specifically for film and television, you will
make money
14.
Teaching music: many musicians teach their
instrument to others to help generate revenue.
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