Can Music Be Your Full-Time Gig? 

The dynamic of the music industry has undergone some pivotal changes in the past decade or two. Earlier, musicians had pretty limited options—getting signed by a label, selling CDs, and getting tours and gigs. This gave birth to the ‘struggling artist’ connotation often directed towards the creative fields. The transformation of the music industry has brought about countless ways to earn a living doing what you love. However, some challenges and opportunities lie on the road ahead. So, if you're wondering how to make money in music- we’ve got you covered!

We’ll be taking a look at the following:

1. Is It Possible to Make a Full-Time Income from Music?
   
   
2. What Role Does Social Media Play In A Music Career?
   
   
3. How Do Streaming Royalties Contribute to a Musician’s Income?
   
   
4. Can Live Performances Sustain a Music Career?
   
   
5. Is Sync Licensing a Reliable Income Source?
   
   
6. How Can Teaching Music Help You Make a Living?
   
   
7. Honourable Mentions/Off-beat Music Career Options
   
   
8. Our Final Thoughts

Is It Possible to Make a Full-Time Income from Music?

The music industry has a variety of careers which provide musicians with more control over their careers. Today, musicians can utilise multiple opportunities like streaming, live performances, and brand partnerships to earn a decent living and keep making music. 

However, making a living through music requires the willingness to diversify your income streams. Initially, it is important for a musician to understand how the industry and the business works. This allows you to understand what skills and talents you have that can help you and your music earn. 

Musicians today earn through a mix of traditional and modern channels. Common revenue streams include streaming royalties, live performances, merchandise, and sync licensing deals. In recent years, crowdfunding and Patreon-style memberships have also gained popularity, helping artists connect directly with their fans while generating income. However, it requires a lot of effort to build a loyal fanbase, audience and followers for you to actually earn a decent amount of money through these sources. 

Thus, musicians still depend on traditional earning methods such as being a session musician, teaching and freelancing. It depends on what skills you have in the music world and outside of it too. Working outside of music and funding your projects can still be a way to go. Remember to effectively utilise your skill set to make money in music successfully.

Starting small and taking one step at a time will not overwhelm you and also help you learn the ropes better. Whether you’re a solo artist, band member, or producer, focusing on consistency and adaptability can help you thrive in an ever-changing industry. This is a gradual process but focusing on the local gigs, building a fanbase organically and focusing a little on the social media and branding side of things will give you a sure-shot edge over others. The easiest way may not be the most sustainable one for your career but small steps will guarantee that you reach your end goal.

What Role Does Social Media Play In A Music Career?

Social media plays a pivotal role in launching careers, providing artists with a platform, and connecting them to their fanbases. Platforms like Instagram, TikTok, and Twitter allow musicians to share their journey, promote new releases, and engage with their audience in real time. This direct interaction not only builds a loyal and strong fanbase but also amplifies your reach beyond traditional methods like networking and live performing.

Social Media is quite the tool for discovery, promotion and marketing as well. Viral trends and challenges can catapult an unknown artist into the spotlight overnight. Viral or not, social media platforms are also used by A&R executives to discover new and upcoming artists. Uploading content consistently can help you get discovered by a record label too! Additionally, social media advertising allows you to target specific demographics, ensuring that your music reaches the right ears. It’s a game-changer for how to make money in music by increasing visibility and driving engagement.

Apart from content, social media opens up various avenues for monetization too. Sponsored posts and Brand partnerships are just the beginning, you can sell your merch and tickets effectively through your followers and social media directly. Live-streaming concerts and exclusive content can also generate revenue while providing fans with unique experiences. A lot of musicians have been embracing social media as it helps them diversify their income streams as well as stay in touch with their audiences.

How Do Streaming Royalties Contribute to a Musician’s Income?

Streaming platforms are the first stop for anything music nowadays. It’s the most popular way of consuming music and the most effective way of distributing it too. Having your music available on Spotify, Apple Music or any streaming platform is a necessity in the music industry today. But while streaming offers incredible reach, the payouts can be minimal unless your play counts reach the millions. Streaming platforms like Spotify often come under the radar when artist royalties are concerned. 

However, streaming isn’t all gloom and doom. It acts as a launchpad for building a loyal fanbase, which in turn drives other revenue streams like concert ticket sales or merchandise. Making the most out of music distribution services and platforms is how you can take confident strides in your career. By analysing your analytics, maximizing your Spotify for Artists or Apple Music for artist platforms and strategically submitting your music to Apple Music or Spotify’s editorial playlists as well as indie playlist curators such as GreaseRelease, you can increase your streaming numbers and overall earnings.

Streaming royalties should initially be a stepping stone rather than the sole focus of your income strategy. Learning how to earn money by music through platforms like YouTube, which offers ad revenue, can also extend to your earnings from audio streaming services.

Can Live Performances Sustain a Music Career?

Live performances have long been the backbone of many musicians’ careers. From small gigs at local venues to massive arena tours, playing live offers not only income but also an invaluable connection to your audience. 

The biggest of artists earn a major chunk of their income through performing live in concerts, tours and gigs. However, live performances come with challenges. Costs for travel, equipment, and promotion can eat into your profits. The pandemic highlighted the fragility of this income stream, forcing artists to rethink their dependency on gigs. This has led to the emergence of virtual concerts and hybrid performances as viable alternatives. Although they might not be able to extract the same feeling and connection fans and artists feel during a concert, it comes close.

To earn significant income from live performances, gigs, tours, and concerts, you should consider building a strong online presence and fanbase, which can guarantee ticket and merch sales. 

Selling merch on tour isn’t just extra cash. Merchandising is often where musicians make the most money. From t-shirts to posters and accessories to exclusive souvenirs, these items not only give fans a keepsake but can also rake in thousands per show. In 2023, the average artist earned $10,000 in merch sales per gig, proving how essential it is. Plus, merch is also a free promotional tool (looking at you, Nirvana T-shirt)! Your fans can keep promoting your music and your brand wherever they go.

Live Music works well when it emphasizes creating memorable live experiences. Collaborations with other artists, themed shows, and engaging storytelling can make your performances stand out and attract repeat audiences.

Is Sync Licensing a Reliable Income Source?

Sync Licensing is how you can get your music onto TV shows, films, commercials, or video games. Amazing opportunity and even better because it pays! It offers lucrative payouts and global exposure, making it a favourite for musicians aiming to diversify. Landing a sync deal can range from a few hundred dollars for indie projects to tens of thousands for blockbuster films.

Sync Licensing is one of the main reasons why artists and bands like Katie Bush and NSYNC became popular again when their tracks were used in popular web series and films. Katie Bush’s track Running Up That Hill was used in Stranger Things (S4, 2022) and NSYNC’s song Bye Bye Bye was used in Deadpool and The Wolverine (2024).

To succeed, ensure your tracks are well-produced and professionally catalogued. Platforms like Songtradr and Musicbed connect musicians with potential buyers, making it easier to pitch your work. If you’ve been asking yourself how to make money of music, sync licensing is a fantastic opportunity to explore.

The best part? Once your music is placed, it becomes a passive income source. It’s not the easiest way of making money, but it’s definitely one of the most rewarding avenues in the music industry.

How Can Teaching Music Help You Make a Living?

For those wondering how to make money in music, teaching provides stability in an otherwise unpredictable field. Teaching music remains a tried-and-true method for musicians to earn a steady income. Whether through private lessons, group classes, or online courses, sharing your knowledge is both fulfilling and financially rewarding. Platforms like Zoom and Skillshare have made teaching globally easier than ever.

Many musicians also take up teaching part-time. This allows them to keep pursuing their creative ambitions and fund their projects too! If you sing or play the guitar, piano or any instrument, you can teach others how to. It also allows you to connect with aspiring musicians and build a community. You never know what you might learn while teaching! 

Offering workshops or creating downloadable lesson plans can further expand your teaching income and help you get a wide range of students. Your skills are of the utmost value here. Why restrict yourself to just music when you can teach songwriting, music production, audio engineering and much more?

Honourable Mentions/Off-beat Music Career Options

If you’re looking for unconventional ways how to make money by music, you can consider these off-beat options:

• Composing for Video Games:
  Video game music is a booming industry, with indie developers and AAA studios alike seeking talented composers. Crafting soundtracks or sound effects for games not only pays well but also provides a unique creative outlet.
  

• Creating Sample Packs for Producers:
  Sample packs are in high demand among music producers. Selling these packs on platforms like Splice or your own website can create a steady revenue stream. If you’re experienced in sound design, this is an excellent way to make money by music while helping other artists create their projects.
  

• Starting a Music Blog or Podcast:
  Sharing your insights through a music blog or podcast can establish you as an authority in the field while generating income through ads, sponsorships, or affiliate marketing. From album reviews to interviews with other artists, the possibilities are endless, and it’s a great way to earn money by music indirectly.

• Freelancing:
  You can offer your skills in areas like audio editing, songwriting, or music production on platforms like Fiverr and Upwork. These gigs allow you to build a portfolio, gain experience, and attract clients, making it a flexible way to make money in music.

• Running a Music-Focused YouTube Channel:
  Creating tutorials, gear reviews, or performance videos on YouTube can earn you ad revenue and sponsorships. With consistent uploads and engaging content, you can connect with a global audience and make money making music in a digital-first world.

Our Final Thoughts

Whether you’re just starting out or looking to level up, the journey to understanding how to earn money by music is unique for every artist. But, making a living through music is absolutely possible. By diversifying your income streams, leveraging digital platforms, and staying true to your creative vision, you can build a sustainable career. Remember to take small steps, experiment with different opportunities and be persistent.

We at GreaseRelease, have a bunch of curators on our network who are looking for new & exciting music to push on their massive playlists. If you make music and want to reach a wider audience, check out our submission platform and get a chance to reach millions of listeners! Submit your tracks now!