How to Make Money in the Music Industry Today

The music industry has changed as you know and it’s become more difficult for musicians to earn a living with their music.   It may be more challenging, but it doesn’t mean it’s impossible if you know how to play the game.

If you want to play the game, you need to know the rules, and here are 3 important rules you’ll need to follow…

1) Only put out a quality product…music that could be playing on the radio today.

-If your music quality is poor, you can’t expect your song to blow up and make you a lot of money.  Your song is a reflection of you, and if you don’t put the time and effort that’s required to make a good product, others won’t think you’re serious about your career and won’t invest in you (with time or money).

2) Be flexible

You’ve got to stay up on trends in the music industry.  If download sales and getting your music on streaming music services aren’t enough to help you reach your music goals and pay the bills…find another way to make it happen.  For example:   Continue building your fanbase and consider playing more gigs or going on tour so you can also make money from ticket sales and band merchandise sales.

3) You take control of your music career…don’t let it control you.

So what does this mean?  This means you take responsibility and accountability for your music and your actions, and don’t let anyone mislead you into doing something that is not in your best interest. If you’re going to sign up for a licensing deal, read all the fine print.  Make sure you are crystal clear on how and when you make money, and how much you will be making from your music so there are no surprises. If an indie record label approaches you, make sure they are a good fit for you and your music goals.  If a deal looks too good to be true…it probably is.

You should take some time to learn from other successful musicians, so you can put yourself in the best position to succeed in the music industry.