Generating revenue as an artist can start at a very early stage of someone’s career, and whether you are a creator of music, artist manager, or entrepreneur just starting out, there is money to be made.
Music Sales
More common areas of revenue generation are of course selling music. Recording and selling music has never been easier, whether that’s using traditional formats like CDs and vinyl records, or distributing your music through digital download and streaming platforms, such as Spotify, Apple Music, Tidal, or Bandcamp
Although revenue generated from the streaming platforms is small, it can still form part of the bigger picture and add to the growing pot that could help with the next steps in your career.
Live Performances
Concerts, festivals, and live performances are crucial revenue sources for musicians. Income is generated from ticket sales, merchandise, PRS live performance royalties, sponsorships, and licensing fees for live broadcasts or recordings.
Music Publishing
Songwriters and composers earn publishing royalties from the usage of their compositions, including radio airplay, TV and film placements, commercials, and other public performances.
Music Licensing
Licensing music for use in other recordings or sampling portions of existing songs can provide revenue to artists, particularly if their work is popular or sought after for samples.
A growing area of music publishing is Sync Licensing, which involves placing songs in films, TV shows, commercials, video games, and other visual media. Artists and composers receive licensing fees or royalties when their music is used in these contexts.
Merchandise
Artists often create and sell merchandise such as t-shirts, posters, and other items related to their brand. For many artists in specific genres, merchandise sales can be a crucial part of bringing in finances, which can help to support other aspects of their career.
Branding partnerships and endorsements
As some artists gain recognition and start to build a fanbase, partnerships with brands for endorsements and sponsorships can provide significant revenue streams.
Content Monetisation
Artists can monetise their music on platforms like YouTube through advertising revenue. By allowing ads to be displayed on their videos, they earn a share of the ad revenue generated.
Artist Funding
Crowdfunding has been around now for a number of years and can become a vital part of their fund-raising activities. There are many online platforms that you can use to crowdfund, such as Kickstarter or Patreon.
In addition, many of the UK’s music industry representatives offer funding opportunities, for artists at many levels, such as PRS, PPL, Arts Council, Help Musicians and Featured Artists Coalition.
