The last two years have been tough on everyone. In fact, there are very few of us whose lives haven’t been altered in some way or another as a result of this recent change of events. For many artists, including musicians, Rolling Stone notes that this unexpected change of life events has affected their livelihoods dramatically. So, if you’re a musician looking to regain the income you’ve lost while still making music, the East Portland Blog provides some tips to help you do it:
Streaming live performances
If performing live is all you’ve ever wanted to do, then why not consider streaming your live performances over the internet to earn an extra buck or two? In addition to streaming devices such as Apple Music that pay you a percentage earning every time your music is streamed, there are many online platforms available you can use for streaming too including Facebook, Vimeo, Instagram, etc. Furthermore, how you choose to generate an income is up to you, whether you choose the royalty route or through advertising revenue, for example.
Using YouTube to earn passive income
Another way to go about earning potentially lucrative revenue streams is through YouTube. Here, there are mainly two options of earning revenue – through views or user-generated content. You can utilize YouTube banner templates to create a fantastic-looking personalized banner for your videos.
Selling merchandise
Anyone who’s anyone these days with a loyal following has, undoubtedly, entertained ideas of how to earn income through the sale of branded merchandise online. With Spotify’s recent integration with Shopify, showcasing your e-commerce store online has never been easier. In addition to this, setting up an online store with Shopify comes with ready-made templates, so the process of setting up shop is really simple to do.
Before the sale comes the marketing, so be sure to get your brand out there in as graphic a way as possible. This is made easier than ever by using an infographic template, which is free and can be done online. By editing and customizing a template to make the infographic your own, you have an opportunity to tell the world what you and your music is about, as well as how fans can download your tunes. A well-designed infographic also makes it more likely that you’ll go viral, as it’s easily accessible via social media.
Other side hustles worth considering
Of course, if you’re a musician, you probably have experience in other music-related things that aren’t just solely performance-based. For example, you could teach and mentor upcoming music or write lyrics to songs to expand your income-producing possibilities. Alternatively, if performing music is what drives you, Millennial Money Man points out that you could always try freelancing at events such as weddings or on cruise ships to keep that income coming in.
Suppose, you’d like to make a business out of performance art training, to maintain a steady stream of income, for example. In this case, it would be helpful to know what type of business structure to choose from. LLCs are a popular business type that many new entrepreneurs are opting for these days due to their many benefits which include tax advantages, better flexibility, lesser paperwork, and limited liability. Of course, if you’re planning on touring with your band at some point in the future and want to bring your business along with you, you’ll have to check out the different filing requirements that may apply in different states.
Making money to get by
In summary, if you’re a musician struggling to just get by nowadays, there are many other pathways to earning money that is not only sustainable but that can end up being profitable at the end of the day. You just have to research what works for you.
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The East Portland Blog features deathless prose from talented contributors located both in East Portland and around the world. Reach out today for more info! EPB2012@hotmail.com
