Monetizing your music can be extremely overwhelming for an independent musician as there is so much information to wrap your head around. In this post I am going to be breaking down several ways to monetize your music.
- Distributing to Streaming Services/Digital Stores – The most common way to monetize your music that you know and love. This method gets your music on platforms like Spotify, Apple Music, ITunes, Tik Tok, and many many more. We personally use Distrokid for our label releases which you can sign up for less than $20 a year here.
- Sync Licensing – Wouldn’t it be badass if your song was in a Netflix show, or even in a blockbuster film? That is essentially what sync licensing is, a content producer for movies, TV or even video games will license your music for a project and pay to use your music in said projects. Artists I have talked to who have gotten placements on Netflix shows always had a good sync agent on their team helping out with this side of the business.
- Merchandising – This is a great way to monetize your music brand. Essentially you create and sell products that fit with your brand identity, for instance if you have a consistent brand image (for us it is the Roadetrix Rose) or band slogan or theme you can design apparel and other products to sell to your die hard fans.
- Crowdfunding – This is one I am sure you are not aware of. Essentially if you can create a captivating story for your brand and a quality video demonstrating your vision you can crowdfund on sites like Kickstarter and raise tens of thousands of dollars to go towards things like recording an album. In exchange for random internet strangers supporting your campaign you can promise things like vinyl, merchandise, or other paraphernalia of your brand.
There are obviously numerous ways to monetize your music brand, just be creative with it and don’t be afraid to experiment. In the meantime feel free to listen to some of our music!