Music Monetisation: Sales and Subscription

Getting financial returns for your hardwork as an artist can be one of the most fulfilling things ever. Music monetisation does not necessarily have to be limited to traditional sources. It is simply making money from your music through digital platforms. It is a relatively new way of taking the non-traditional route to exercising revenue from music. The money made from your music can be from multiple streams such as social media and concert tickets for fans. It doesn’t have to be limited to traditional sources. The good thing is, online sources may evolve over time, but they are here to stay. How do music sales work?

Through distribution networks

Distribution networks are an essential part of the music industry in that they provide the bridge between the artist and online streaming platforms. Some of these networks such as TuneCore, AppleMusic, Amuse and so on promote music sales and offer a certain percentage of royalties to the artists.

Utilising digital streaming platforms

Digital streaming platforms make music readily accessible for music lovers to steam. It’s also a way to extend your reach to fans, both existing and potential ones. Streaming platforms such as Show4me, Spotify, YouTube Music have widespread presence in several countries across the world and pay royalties to artists. Setting up your artist profile is a good way to get started. Do that on Show4me here .

Concerts

Another way to monetise your music is to organise concerts for fans. It’s also one sure way to win their hearts as well. Concert tickets 2021 may not necessarily be designed for physical events, thanks to COVID-19. Virtual tickets work as well. Mixing up the perks such as virtual meet and greet, making different ticket types available for fans. Personalising merch for your fans will give them a sense of connectedness. Though it’s for a fee, they’ll want something that’s a part of you.

It’s one thing to stream music online, it’s another to experience a live performance. Whether it’s a virtual event, live or hybrid, putting a concert together always works in that fans always look forward to the experience of seeing their favourite perform.

Fan subscription

Fans/member subscriptions give your fans exclusive access to your personal network. It gives them access to exclusive information, be it fresh releases, fan mails, video snippets of your recordings, performances and even merch. These can come at a small cost for them but it will foster your relationship with your audience. You may choose to create forms of your own fan club, depending on your preferences. While you can do this via your personal website, some music platforms such as Show4me and Spotify also help independent artists build their network of fans with this feature. With Show4me, you get to have your own Artistclub where your fans can either join for free or on a paid premium basis.

Social media

Asides from streaming platforms, social media also provides a means through which music monetisation can be done. YouTube for example can be monetised when you have a certain number of subscribers on your channel. Also, any music you own can generate revenue when it is used in a YouTube video. Here, distribution networks can also help out with connecting your music to this platform. Whether it’s Reels, Stories or Ads on IGTV, Facebook, Instagram and TikTok also follow this pattern, permitting distribution networks to act as intermediaries and distribute royalties. Monetisation occurs when your music is delivered by the distribution network to the social media platform which then recognises it whenever it is used in a video.

Monetising your music does not have to be streamlined to one platform alone, it can be through multiple sources. You can enjoy the dividends of your work and release quality sound for your fans as well. You can start your monetisation journey with Show4me.