New Tips for Making Money in Today’s Music Industry Pt. 1

musicmoneyIt’s not easy trying to make it in the music business right now, but people are still doing it everyday. The competition’s steeper as breakthroughs in technology have enabled more artists to create great recordings and mixes. Additionally, services like Pandora and Spotify have conditioned the market to pay little to nothing for music.

While these are new challenges for artists, there are also new opportunities. Here are some suggestions for artists seeking to make it in today’s music business.

Network

In this new age of connectivity, it’s never been easier and more important stay active and engaged with other artists and fans. Facebook and Twitter are powerful platforms that can keep you in touch with people who will support your music and provide future opportunities for you.

Behind most “big breaks” is a story where one someone knew someone who gave them a shot. Today’s digital landscape is no exception to that. Every time you engage with other artists and new fans, you’re getting your name out there more and bettering your chances of catching a new gig.

YouTube

Many bands have discovered that putting out a unique or interesting video on YouTube is a great way to generate more publicity and extra money. A video that goes viral can bring in thousands of dollars while getting your name out there. It’s also been proven that having a video on your website improves your sales conversion rate. You may want to check out this great post on what viral videos have in common.

Leverage Online Collaboration

Sometimes it’s by cutting costs that you can best boost your overall profits. The Internet has provided an incredible tool in that a lot of collaborative work in the production process can now be done online. You can hire musicians to record a part in their own studio and send it over. Or, you can have your recordings professionally mixed and mastered by uploading your tracks to many studios’ websites.

We’ll continue with two more tips in our next post.