If you are an independent artist and thinking to prepare your next release, be it a single or a dedicated album, you might be asking yourself: How can I make money from my music online?
From working with music distribution companies to making money from your music on YouTube, there are multifarious ways and platforms for independent artists to earn revenue. We have enlisted some easy ways to make money from music.
Get your music featured in Audio/Music Streaming Companies
As an independent artist, you are bound to be a music lover. So, where do you usually head to when you want to listen to your favourite tracks? Yes, you open your favourite music streaming app!
From Spotify and Apple Music to Pandora and Amazon Prime, these music streaming services are used extensively by millenials to listen to old favourites or discover new melodies.
As a songwriter or composer, it’s essential for you to get their your tracks available to as many of these platforms as possible. More exposure provides the opportunity to grow your audience base.
In general, there are two different types of streaming revenues:
- Streaming revenue that is generated in the form of advertising revenue by the music streaming platform
- Streaming revenue that is generated in the form of subscription revenue by the music streaming platform
Some streaming services use advertisements for generating revenue which means that viewers can stream music for free in return of listening to some advertisements in between songs. These are often referred to as “Freemium” services. Both Spotify and Gaana use freemium models.
Some music streaming services require a monthly subscription fee which the listener pays to hear songs. In both situations, these collective costs which include both subscription fees and/or costs paid by advertisers make up a pool of revenue which will be paid out to you as your songs are streamed every time, every day.
Swear by Spotify for Artists
Spotify is undoubtedly the most popular music streaming service boasting over 200M monthly active users.
While the number of subscribers are quite high, it is a known fact that the amount of revenue generated from streaming individual songs is not that great and therefore, the amount of income that returns to the pockets of producers and songwriters are less than satisfactory.
Although the per-stream revenue figures may seem slight, it is a huge achievement to get your song featured on a popular playlist – Spotify’s Discover Weekly. Getting your music featured in curated playlists like Spotify’s Discover Weekly can get your stream count soaring!
“Using Spotify for Artists is a great storefront, acting as a gateway to other money-making opportunities. Any artist who is serious about laying the groundwork for a long and successful career should probably take full advantage of the tools the service offers.”
For creating a Spotify Artist account, all you have to do is, promote your music with a professional bio and pictures, pin new releases to the top of your profile, sell merchandise, share playlists and promote gigs.
License your music on Sanjh
If you are an independent artist looking to acquire the rights of exclusive audio, Sanjh is your gateway to premium copyrighted content wherein you can license music easily in minutes.
After licencing, potential buyers from all around the globe can buy your music from our marketplace because of our instant licensing policy. So, listing music content on Sanjh gives you visibility among the global community and ensures secure & transparent licensing process.
Just to let you know, buyers on Sanjh love to interact with registered sellers who own dedicated account with complete information about them. So, if you have just randomly created a seller account without any brief about yourself, then no buyer would be interested in buying music licenses from you.
Thus it is strongly recommended to use a professional profile picture of yourself along with a comprehensive bio to ensure a genuine seller account. A genuine seller account increases the chances of buying media content.