Making a living as an artist or composer is often difficult and comes with a lot of uncertainty. However, many who have musical talent tend to forget how valuable it can be in the marketplace. There are tons of ways for composers to earn a steady income. But, in order to do so, they need to be open to new ways of generating revenue, and also consider going back to some of the basics. Let’s take a look at an introduction to a few potential ways in which performing artists and composers can earn revenue.
While the demand for CDs has dwindled significantly over the few years, there is still a place for them and they still make up a large portion of the revenue generated by artists. However, the best way to use them is for promotion. Having a few CDs on your merch table at concerts could be a great way to get valuable attention and you can use the CD and packaging to advertise upcoming shows, releases, or other merch.
More and more of an artist’s revenue nowadays comes from streaming, and this is even more so for independent artists. As matter of fact, one report by MIDiA found that it is now the number one source of income for unsigned artists at 30%.
Another thing that makes streaming so powerful is that you get much more insights into who’s buying your music. This valuable data can be used to plan where you will have your next performance, or for planning a tour schedule, for example.
However, while growing a fanbase on your own is great, you will probably need some help to get your name out there and create a spark. This is where services like NowListenPR come in. This marketing company works with musical artists specifically and helps them grow their presence on DSPs like Apple Music and Spotify. While they do give you a push, they help you increase visibility organically by helping you land on specific playlists related to your genre and core audience. They can also help with things like social media promotion and project management.
As a creator, you can also license your music for visual projects. Your music would then be used in promotional campaigns, films, TV commercials, online commercials, and various forms of video content. This is what’s referred to as synchronisation.
This is a great option if you’re fast and can compose things on a tight deadline. This is also a great option for those who want some flexibility. Some of the top composers can earn more than £25,000 per year simply by selling their creations on music libraries. These will usually require that you create music to fit criteria specific to different jobs. A piece of video material will also often be provided for you to compose.
These are just some of the ways in which musicians, artists, and composers can earn additional income. Whatever the case, make sure that you understand the value of your talent and find where you can fill a demand.
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