You don’t need to be a major artist to make money in the music industry. And, if you are a recording artist, you need to know how to diversify your income since money from royalties is not always enough. If you have genuine talent as a musician, then there are tons of ways that you can earn a full-time or part-time income. Some of these ways are well known, but there might be some options that you have not considered. Let’s take a look at how you can make money as a musician.
Start Selling Online Courses
One of the best ways to make money as a musician is to sell courses, since you only have to create courses once and you’ll keep getting paid for them again and again. You could create a course on how to record tracks or how to produce music, but you could also sell a course on how to navigate the music industry if you have experience with it. You could then sell your courses on a platform like Udemy or Masterclass, or you could create your own info-product.
Become a Backup Singer
A lot of people in this industry have tons of talent but don’t have the full package industry execs are looking for. Many of these people end up working as backup singers for major acts as a result. This could be a chance for you to make some good money and you could even get discovered that way. Backup singers need talent first and image is nowhere near as important. You could become a permanent backup singer for an act, or you could work with multiple people.
Become a Music Producer
If you know how to play one or multiple instruments, then you should try learning music production. Music producers are some of the most well-paid professionals in music and have one of the best jobs in the business too. They get to work on their terms and don’t have to deal with some of the pressure some of these artists have to face. They get paid per production or session and don’t have to be signed by anybody. They can also work with as many artists as they wish.
You get to work in the musical genre that you like too. If you like dance music, then you could become a major producer/DJ. There’s also a lot of demand for hip-hop producers right now. Learning production is pretty easy as well and some of the world’s top producers were entirely self-taught, but you can also go for formal classes if you want to have an advantage.
Start a Music Label
You could also start a music label. If you have an eye for talent, then you could make a lot of money with your imprint. You could sign indie artists in any genre that you like and start promoting them. You would get the lion’s share of the profit, but you’ll also get most of the responsibilities.
One of the most important things when you’re a record company exec is to build a large network. You will need to have relationships with venues, other labels, entertainment lawyers, publishers, publicists, etc. You will also need to get in contact with a few studios.
If you’re in London, we suggest you start looking at music studios in London right now. Finding an affordable London music studio will be very important as it is one of the biggest expenses for any record company. From then on, you can start building a marketing team and getting all the pieces together to make things work for your artists.
Become a Music Teacher
If you’d like to teach people how to play instruments or sing, then you could consider becoming a music teacher. You could teach private groups, but you could also become a formal teacher and work in a school setting.
The job of a music teacher can be very fulfilling, especially if you have a genuine passion for music. You could decide to work with elementary school students, teach them the basics of music, and watch them fall in love with it.
Nothing is forcing you to teach large groups either. You could work one on one as a music instructor or work with small groups of five to 10 students if you wish.
Open a Record Store
Record stores are still a thing, and vinyl records are actually making a resurgence right now. So, if you happen to have a large collection of records and know how to find classic ones, then you could open a record store.
One of the great things about running a record store is that it’s very low maintenance. All you need is to build your inventory and get a nice enough space. You don’t need to hire tons of employees and you could even operate your record store alone. If this is something you could see yourself doing, look at the demand in your area and see if there would be demand for this kind of store where you are.
These are all ways that you can make a side or full-time income as a musician. Keep your options open and go with your passion if you want to have fun while making money.