6 Ways Indie Labels & Artists Can Increase Music Monetization

It can be very challenging for an indie musician to make a living with their music.  The good news is there are ways to increase your monetization…

1) Consistently leverage social media resources like YouTube to reach out to your fan base–  Make sure your leverage a variety of  social media channels regularly to help you increase your monetization.

2) Increase your fanbase within Spotify– Verify profiles and create dynamic playlists so you can engage your fans. Also, make sure you embed Spotify players across social platforms.

3) Revise your approach to music marketing–  Focus more on driving “listens” instead of driving “sales”.  The social shares will help drive more listeners now and in the future and can lead to more music sales .

4) Consider additional revenue streams– Additional sources of income, like publishing and neighboring rights for future income opportunities.

5) Stay connected to your fan base– Create focused direct to consumer strategies where you offer physical products such as CDs and merchandise that allows you to connect with fans face to face on a personal basis.  This can help you develop more loyal fans, and bring you more sales and higher margins long term.

6) Analyze important data– It’s important to use data to make more informed decisions and market more effectively.  This will also help you set actionable next-steps based on what you learn.