5 Ways Musicians Can Generate Income in a Pandemic
Making money as a musician isn’t always easy, especially during a pandemic! Thankfully, the world is finally starting to approach some level of normalcy, and booking gigs at live venues isn’t the far-fetched dream that it was a year ago. Until then, this is a great time to diversify your income streams. Combining a few different money-making avenues will ensure you always have work to fall back on if another event like this occurs in the future.
Now is also a good time to expand your skillset. Consider learning new instruments, playing styles, or practice techniques. Work on ear training and build your knowledge of music theory. Learn how to freestyle solos, jam with other musicians, and write songs. The J-RO School of Music can help you learn all of these skills and more!
Launch a Business in the Music Industry
If you’re trying to break into the music industry, launching your own business is a great way to do it! You could offer any number of services to other musicians, including marketing and promotion, publishing, social media management, booking, and consulting. Just make sure you check all of your legal boxes before launching. For example, you will need to obtain an Employer Identification Number (EIN) so you can hire employees, open a business bank account, and keep your personal and business assets separate. An EIN will also make it easier to pay taxes.
Teach Music Online
Many professional musicians teach music on the side. Since the pandemic, online lessons have become incredibly popular. All you need to get started is a solid internet connection and a computer with a webcam. If you want to appear even more professional, upgrade to an external webcam and microphone for optimal sound and picture quality. Good lighting will further help your video lessons look their best!
Live Stream Your Performances
Until you can book live shows again, consider performing from home and live streaming for your fans. Choose a platform, like YouTube Live, Facebook Live, or Instagram Live, and pick some of your favorite songs to perform. Restream suggests many different ways to monetize your live streams. For example, you could earn ad revenue, get sponsorships from brands, and encourage your fans to make donations or subscribe to your Patreon.
Sell Your Music to Royalty-Free Sites
Selling music to stock libraries is a great way to earn some passive income as a musician. Plus, it’s incredibly easy. All you have to do is compose a song and upload it to a royalty-free website. Stock music is used in everything from TV shows and commercials to YouTube videos and podcast intros, and because trends are constantly changing, new stock music is always in demand. EDM.com suggests taking the time to study what producers and content creators are looking for so you can compose music that is easy to use, edit, and customize for various projects.
Sell Merch
If you’ve performed a lot of live shows, you’re likely familiar with selling merch. But have you thought about selling merch online? Creating an online store is easy with the help of ecommerce platforms like Shopify. The trick is determining what kind of merch will sell best. Don’t just sell items you think your fans will like—ask them! Produce some sample graphics, poll your fans on social media, and ask for feedback. You can also get inspiration from other musicians in your genre. To keep your initial investment low, consider working with a print-on-demand company instead of ordering and storing your own inventory.
With the end of the pandemic in sight, musicians everywhere are itching to get back up on stage. As you anticipate your first post-pandemic show, use this time to build some new income sources. Launch a business, live stream for your fans, and sell your music online. These revenue streams will continue to benefit your music career long after the pandemic is over!
Looking to advance your music skills? J-RO School of Music will teach you everything you need to know! Schedule your free assessment lesson today!
Now is also a good time to expand your skillset. Consider learning new instruments, playing styles, or practice techniques. Work on ear training and build your knowledge of music theory. Learn how to freestyle solos, jam with other musicians, and write songs. The J-RO School of Music can help you learn all of these skills and more!
Launch a Business in the Music Industry
If you’re trying to break into the music industry, launching your own business is a great way to do it! You could offer any number of services to other musicians, including marketing and promotion, publishing, social media management, booking, and consulting. Just make sure you check all of your legal boxes before launching. For example, you will need to obtain an Employer Identification Number (EIN) so you can hire employees, open a business bank account, and keep your personal and business assets separate. An EIN will also make it easier to pay taxes.
Teach Music Online
Many professional musicians teach music on the side. Since the pandemic, online lessons have become incredibly popular. All you need to get started is a solid internet connection and a computer with a webcam. If you want to appear even more professional, upgrade to an external webcam and microphone for optimal sound and picture quality. Good lighting will further help your video lessons look their best!
Live Stream Your Performances
Until you can book live shows again, consider performing from home and live streaming for your fans. Choose a platform, like YouTube Live, Facebook Live, or Instagram Live, and pick some of your favorite songs to perform. Restream suggests many different ways to monetize your live streams. For example, you could earn ad revenue, get sponsorships from brands, and encourage your fans to make donations or subscribe to your Patreon.
Sell Your Music to Royalty-Free Sites
Selling music to stock libraries is a great way to earn some passive income as a musician. Plus, it’s incredibly easy. All you have to do is compose a song and upload it to a royalty-free website. Stock music is used in everything from TV shows and commercials to YouTube videos and podcast intros, and because trends are constantly changing, new stock music is always in demand. EDM.com suggests taking the time to study what producers and content creators are looking for so you can compose music that is easy to use, edit, and customize for various projects.
Sell Merch
If you’ve performed a lot of live shows, you’re likely familiar with selling merch. But have you thought about selling merch online? Creating an online store is easy with the help of ecommerce platforms like Shopify. The trick is determining what kind of merch will sell best. Don’t just sell items you think your fans will like—ask them! Produce some sample graphics, poll your fans on social media, and ask for feedback. You can also get inspiration from other musicians in your genre. To keep your initial investment low, consider working with a print-on-demand company instead of ordering and storing your own inventory.
With the end of the pandemic in sight, musicians everywhere are itching to get back up on stage. As you anticipate your first post-pandemic show, use this time to build some new income sources. Launch a business, live stream for your fans, and sell your music online. These revenue streams will continue to benefit your music career long after the pandemic is over!
Looking to advance your music skills? J-RO School of Music will teach you everything you need to know! Schedule your free assessment lesson today!