In this article we will cover how to make money with your songs. Whether you are an artist, producer, or songwriter, this will apply to everyone! Making music a full time career is more accessible then it has ever been before. Along with that, it might be more complicated than it ever has been before! I will break this down into a few key areas you should be looking at to make money with your songs.
As a music creator, there are several different types of revenue streams. Tapping into all of them will ensure you aren’t relying on one source of income and create more stability in your brand and business as a musician.
Let’s go over 3 key ways you can make money with your songs.
Music licensing has long surpassed the billion dollar industry mark. This is going to be the most lucrative space for music creators in the coming years, so understanding how to make money with your songs here is going to be crucial to long term success.
Licensing includes things like podcasts, digital advertising, youtube videos, film, and tv. You can also license your songs or tracks to other artists to release as well.
Licensing is a great way to repurpose previously released music, unreleased tracks, or songs you didn’t quite finish.
At SongShop, this is exactly what we do for music creators. You can sign up and try us out for free here.
This is more traditional like digital album or single sales, streaming, and of course hardcopy album sales like CD’s or vinyl. I don’t think I need to do much more explaining here!
Royalties come in many different shapes and sizes. They can be off the backend of license deals, streaming royalties, or performance royalties from things like terrestrial or digital radio play. For more information on royalties, read my blog here.
3. Live Shows & Merch
Playing your songs live is another great way to make money from them. If you have one or two songs that always connect deeply with your audience, make some merch out of them! Get the lyrics printed on a t-shirt, make some wall art with them, or even get some temporary tattoos created to sell.
Live shows and touring still play a vital role in the income of any artist, no matter how big or small. Learning crafty ways to turn your songs into merch to grow both your brand and bank account.
I hope this has helped you understand how to make money with your songs and given you some creative new ideas!