How To Earn As A Musician During The Pandemic

Earning a living through the pandemic has been tough for many of us, but especially so for full-time musicians. With concerts, weddings and many venues still in flux, Beatmaking-Software.com offers some resourceful tips to keep you going until the lights come back on for Music in the Gig Economy. Below are outlined some ideas on how To Earn As A Musician During The Pandemic:

Royalties

Recent studies found that around $250 million worth of royalties go unclaimed every year. For many artists, these would come via streaming sites such as Spotify, Apple Music, Deezer and Youtube. To ensure that you aren’t leaving any money on the table, it’s worth registering with a PRO (Performance Rights Organization) and listing songs that you’ve written or co-written. Even if you find you aren’t owed anything, it will help you to cover bases moving forward!

Merchandise

In 2018, music merchandise sales were valued at $3.48 billion in the USA, alone. Even for independent artists, merchandising is a viable means to capitalize on the success of a track or even to spread brand awareness. The question is, where to start? Thankfully, this process is now easier than ever. Platforms like Hello Merch provide web stores, printing, shipping and customer support on behalf of artists, and charge a flat rate. All you need to do is register and decide what it is you want to sell.

Generating a passive income is key for a performer who is unable to perform. If you choose to generate income through ecommerce, the first step is to identify yourself as a legitimate business and register as an LLC, if you are in the US. You can learn more about LLCs and other business structures here. If you find yourself in business debt, you’ll have liability limits, and an LLC can provide you with tax advantages and less paperwork. So you will have more time to do what’s most important – make music and run your business. Make sure to check your state or country regulations as the rules for forming a limited company can vary.

Teaching

While live performances have been made more difficult by the pandemic, it could be said that teaching music is a whole lot easier now. By hosting virtual classes, one-on-one Zooms or posting pre-recorded tutorials, artists can transform themselves into teachers at the press of a spacebar. You’ll want to pick your platform depending on your preferred method. Skillshare, for example, is a perfect channel for those who like to film and edit content ahead of time. Or you could draw upon your own personal connections for one-on-one sessions via Zoom and Skype.

Virtual Gigs

Throughout the pandemic, bedrooms have transformed into stadiums as fans flock to live streams of their favorite artists. Just look at the statistics – 47% of fans wanted live streams from their favorite artists, on Twitch, Instagram, Periscope and Youtube. And the live video streaming market is expected to grow to $70 billion in value before the end of 2021. During your sessions, you can earn by providing incentives such as song suggestions or even personalized videos/video segments. And if Twitch’s format doesn’t work for you, try a different channel with a cash collection app such as Venmo.

Collaborate

Although most musicians have been hit hard by the pandemic, there are still many artists working. The world needs music! And, for those who are producing, there is always going to be a demand for fresh samples, beats, instrumentals, vocals and other musical accompaniments. Websites such as SoundBetter aim to address this dilemma by bringing artists together and encouraging new partnerships.

It’s not easy to earn a living as an artist. Sometimes it can feel like the difficulties outweigh the benefits. But with an open-minded approach to the many digital options availabe, it’s possible to thrive. Even during a worldwide pandemic.

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This article was sent in to us from Gigmine where you can read more on ideas for working in the gig economy.

Main Images by Pexels and Current Magazine.

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