It takes time and determination to make it in the music industry. But even when you are just starting out in your career, there are various ways in which you can make money.
The following ideas are just a few ways in which you can begin earning.
Record and Sell Your Music
If you want to get your music known, you need to record some tracks. Thankfully, recording technology is more accessible than ever before. With the right Digital Audio Workstation, audio interface, and microphones, you can set up a home recording studio.
Alternatively, you can book time at a local recording studio. Some community studios offer low rates for new musicians. Once you have created finished songs, you can upload them to the major streaming services and look at independent ways of selling your music directly to your followers.
You might not make a huge amount from streaming services to start off with, but you can certainly increase your following to set you on the path toward a successful music career.
To get people into your music, you will want to play live shows; and even the smallest of gigs can help you to make a little money. Why, even busking in the street can make you a few extra dollars. And many famous musicians started out as buskers.
Start by playing small local venues, perhaps for free. As you build your reputation you can get higher-paying gigs and play bigger or more established venues.
Selling merchandise is a great way of making extra money on the side; especially once you have gained a small following.
Indeed, in the early days, you could make more from merchandise than from playing gigs. You can sell merchandise like T-shirts, stickers, and mugs both at gigs and online.
Become a Session Musician
The above tips can certainly help you to start your music career and make a little money on the way, but if you want to earn more through your musical skills in the early days of your career, consider becoming a session musician.
That means playing instruments for other musicians during recording sessions. Not only can working as a session musician enable you to earn money. It can also help you to meet connections in the music industry.
Look for Licensing Opportunities
To make pretty big bucks from your recorded songs, look around for licensing opportunities. You could license your music to either marketing companies or entertainment firms that purchase music to use in things like ads, movies, and video games.
If you have a lot of musical skills and knowledge, consider teaching music. This is one of the best options to gain a regular and pretty good income while you wait to hit the big time.
Private tutoring can be an easy route into music teaching. Consider teaching children as well as adults.
Look for Ways to Make or Save Money with Your Bank Account
Finally, it is worth looking at other ways of making and saving money while you work hard to make it in the music industry.
For instance, you could simply make or save money by opening the right kind of bank account. With SoFi, there are no account or overdraft fees to pay, you can get paid up to two days early, and you can cash in on up to $300 with the SoFi sign up bonus.
By saving money on your bank account, you can invest your savings into things like studio time and home production equipment.
By adopting the above methods, you can make some money when you are just starting out. And, as long as you keep focused on your end goals, there is no reason why you cannot gain a successful career in the music industry.