The Art of Diversifying Your Revenue Streams as a CreatorIt’s 2022 and most recording artists are way more than their job description lets you assume. More and more upcoming acts use their skills to branch out into different areas for additional revenue streams. This only comes natural, since DIY artists have to acquire expertise in way more than writing lyrics and singing. The accessibility of information on the internet makes this possible.
We gathered a few disciplines by which artists have successfully expanded their sources of income:
This one is a given. Pioneered by the likes of Kanye West or Pharrell Williams the Producer turned Artist phenomena has been excepted by the Industry since a few years now.
Today many artists don’t know the right people or simply can’t afford to pay producers for beats or recording time. Therefore they start producing the songs by themselves. A lot have failed but also a lot succeeded. Some even to the degree where they get asked to produce for others.
So, if you think that you’re just as good of a producer as you are a singer or rapper, why don’t you offer your service to other artists?
Mixing and Mastering
Following up on the music production aspect, some artist even mix and master their own songs. Don’t get us wrong, external mixing definitely still makes sense, but we can’t deny the fact that, there are tons of awesome sounding records out there, which have been entirely self-produced, mixed and mastered. Why not offering your engineering skills as a service every now and then?
Artwork Design, Photo Editing and Video Editing
Music and visuals go hand in hand. That’s why maybe some artists want it to be made out of the same mold. You’re not able to spend money on Photoshop? Well, programs like GIMP got you covered.
So, if you have the time to learn the ins and outs of the software, got the patience and right creative mindest, chances are that you can not only make great designs for yourself, but for other artists and producers as well.
Same goes for editing videos. If you go through the credits from some of your favourite tracks’ music videos, you might see the artist themselves as the editor or even director.
Even if you’re not into video games, streaming is something that every artist should try to tap into. Yes, it takes a lot of effort to setup everything for a nice Twitch channel like for example the one of Kenny Beats, but if you’re willing to invest the time and have the extra dollar for the equipment, chances of it paying off are quite high.
The monetization possibilities are broad and the community is engaged. If you’re able to grow your channel to a certain extent, you will not only build yourself new revenue streams, but also convert Twitch users to actual fans of your music and your brand.
Every artist in today’s day and age needs to acquire some sort of marketing skills. Be it simply the planning of content, preparing press releases, building a network, reaching out to influencers, setting up Facebook and Instagram ads or creating google adwords campaigns. Some artists even create a passion for it and achieve significant results.
Of course, as a musician you won’t have the time to serve multiple clients. Nevertheless it’s very likely that you know other artists that either lack the time or the patience to do their own marketing work. Why not offering them to market their next release? Maybe For a sum that lets you pay for your own next playlist campaign?
Songwriting for other artists is still overlooked by many aspiring musicians. Take some of your demo tracks that never made the cut and pitch it to artists, labels or publishing people. There is nothing to lose..
Even if don’t succeed in placing the songs you never know which opportunities arise from the communication.
Revenue streams for musicians are more diverse than ever. Be sure to make use of them.