Show Me The Money.. Monetising Your Music as an Indie
Music is free these days.. so if you’re not selling your music then you need to be finding other ways to make money as an independent artist.
There are two ways to make a living as an original performing artist these days, generally speaking - being signed to a major label or doing it yourself! But even the major labels these days will not generally look at someone unless their online game is strong. These labels are looking to see a strong connection with a dedicated fanbase and an established money-maker before considering signing someone.
So - get that online game firing. Check out any number of our other articles for some advice on how! In the meantime, here are a few simple ideas, besides gigs and online concerts with a donation button (do that too!), and links on how you can start padding that bank account with sweet, sweet cash from your most dedicated fans.
1. Merch: if you're playing gigs then you are really missing out on an opportunity to make money if you do not have merch. Take some shirts, keyrings, stickers, CDs (more on CDs shortly), coffee mugs, whatever (get creative!!) with you and ensure that you request a merch table, even if you're just playing at a bar. During the gig announce that you will be at the merch table following the gig. This gives you an ideal chance to meet your fans, connect with them, promote your socials directly and you can even have a mailing list sign-up at the table (and offer discounts on merch for an email - something that in the long run will make you more than you gave away). Remember - e-mail marketing is perhaps the most effective form of marketing for today's indies.
ASColour has a ranger of high quality shirts available, and on their website you can find a printer near you that can make them for you. There are organic, sustainable options too for around a tenner per shirt, so you can save the planet, put a smile on faces and make money all at the same time!
https://ascolour.co.uk/printers-embroiderers/?page=1&mr_is=0
Plus, Instagram now has a shop option you can add to your page. So invest in some merch, find yourself an illustrator if you need one to design something and get that merch out there!
2. CDs: don't believe the hype that CDs are dead. Sure, many people don't own CD players these days but they are still valuable items on any merch table! People will buy them simply to support you. Having recently undertaken some research on this by speaking directly to indies the consensue is that CDs still offer one of the most valuable pieces of merch that we can offer. If you're still not buying it go for vinyl instead!
3. VIP experiences: some of you are already at the level that you can be offering this to your diehard fans. Get creative - it could be a one-on-one short concert, a cover of your fan's choice performed by you, a backstage experience at a show, a meet and greet in a coffee shop. Many of your biggest fans would love the opportunity to pay a little bit for some of your one on one time.
4. Patreon: this is for the diehards who are prepared to invest serious amounts of time in content creation. Patreon is a subscription service where fans can pay a monthly fee to access exclusive content. Think special performances, Q & As, behind the scenes footage etc. It's tried and tested but you have to be committed to producing lots of high quality content!
https://www.patreon.com
5. Sponsorships: you should start to think about approaching companies and other business to display their logo at your shows, on your livestreaming gigs, in your social posts. Align yourself with brands that suit your values and it is also a great way to inadvertently show people what you are about (for example a vegan brand, a watch brand, whatever you're into - approach those companies and offer them space in what you are doing!)
It's really important to know how to approach these companies. For further info drop me a line and I'll give you a steer!
6. Music Grants: there are TONNES of music grants available to artists, both in your country of residence, your country of citizenship and through the EU. Do some research on what grants are available and you will see there is FREE MONEY just waiting to be given to you if you pitch your idea and your project right.
There's little gains to be made here and there if you're willing to commit to these opportunities. Get connecting with your fans on your socials, take them on a journey to superfan and they'll be willing to spend their hard-earned cash to help you on your journey. Good luck!