Music Sustainability and Revenue Streams for Musicians

The Following is a list of Revenue streams for musicians and ways in which musicians can make the most of all opportunities available to them including a helpful list of tips for musicians on things they can do to improve their career.

We will start by going over the most important Revenue streams for musicians followed by the full list of possible Revenue streams.

Digital Sales Digital sale’s are important for musicians as it is a great way to expand your business although digital streaming sites like Spotify and Bandcamp are helpful to get your music out you wont make sufficient profit so when it comes to digital sales make sure to set up your own online stores for you newest releases and merchandise as it gives you the chance to reach a larger audience.

Performances It is important that even though you may not have a manager it is important to have a booking agent or at least have a good circle of connections as performances can be the best way and sometimes only way to get your name out their, its also important to know your value and not to only ‘’work for experience’’.

Composing original compositions work for Broadcasts Creating original music is something every musician does so why not make something that could be geared towards a television broadcast or even a film, to do this it is important to work with a music agent who has a wide circle of music supervisors at his disposal who can all help you along your way.

Giving Lessons Giving lessons is never something to turn your nose up at as it can be a good and steady flow of income for a full time musician and can be more beneficial if you are willing to create some classes which are aimed towards children.

Commissions If you are willing to make music for broadcasts then this one will also work for you as if you take commissions from music supervisors to create music for television and expand your network then you also have a greater chance of being paid to do music for all kinds of different establishments.

Full list of revenue for musicians Digital Sales (Spotify, Bandcamp) Merchandise sale (Digital/at performances) Performances Giving Lessons Commissions Composing original compositions work for Broadcasts Record Label Support/Advance Retail Sales Producing/Mastering Patronage Support Ad Revenue Personal Licensing Product endorsement Fan/ Crowd funding Sponsorship Art Administrator

Helpful tips to help expand your network! Pay attention to detail, business is essential without using business to help advance in the music world your just ‘’spinning your wheels’’. Learn to do online marketing as its important for growing an online music store which will help sell albums and merchandise. Be tech savvy as lifelong learning will prevent you from being left behind. Know what your good at. Use the best resources you have to record the best quality you can as music studios will be expensive until you have a label. Gain Professional know how via seminars. Perform or teach in unconventional Venues. Perform concert programs geared towards a niche program. Investigate new styles. Teach and perform to different age groups.

Resources http://blog.discmakers.com/2015/12/build-a-sustainable-music-career/ http://musiciansway.com/blog/2013/06/the-secret-to-sustainable-music-careers/ http://musiciansway.com/blog/2012/11/8-ways-to-build-sustainable-music-careers/   http://money.futureofmusic.org/40-revenue-streams/ https://www.dittomusic.com/blog/get-sustainable-music-career-6-sucessful-key-tips-independent-artists http://www.musicthinktank.com/blog/how-to-make-your-music-career-highly-profitable-and-sustaina.html https://tomhess.net/WhatDoesTheMusicIndustryLookForInYou.aspx