In Today’s Article, We will be looking at ways in which musicians make their money.
Firstly, Who are Musicians
According to wikipedia, A musician is a person who composes, conducts, or performs music.
In this post, when we say musicians, we are also referring to singers, artistes, rappers and trappers etc.
Apart from singing for passion, musicians also need money to pay for their living, pay for music producing, pay for songwriting and the rest.
So, We provided ways musicians make their money.
Ways Musicians Make Their Money
1. Through Streaming Revenue
This is the latest way musicians make their money compare to other ways listed below.
Streaming apps like Audiomack, Tidal, Apple Music, Boomplay, Spotify etc, pays artist who uploads songs in their platform.
These artistes are being paid by these streaming services by “pay per stream”, which varies on the different streaming services.
“Pay per stream” simply means artistes or musicians are being paid anytime someone streams their songs on the different streaming apps.
These pays varies, for example, Audiomack pays $0.001 per stream, YouTube music pays $0.002 per stream and so on.
Apart from different streaming apps having different “pay per stream” royalties, the payment royalties are also determined by various reasons like countries where the music is being streamed from i.e the payment royalties of a musician in south Korea is quite different from someone in Nigeria when they are both using same streaming services or apps.
Meaning that if a musician has 1000 streams when using Audiomack he/she will be making $1 and 1 million streams is equivalent to $1,000.
Read Also: How much does streaming services pay per stream
2. Through Show Performance or Concert
This method is widely known, fans would like to see their favorite artistes perform live for them, by doing so, they will buy tickets for any show their favorite artistes come to perform.
Selling of tickets and arrangement for the concert are being done by people known has music promoters.
A music promoter can decide to invite musicians to come perform at an event or concert and pay the artist.
Read Also: How To Promote Your Music Yourself
A musician can also personally organizes his/her own concert/tour and announce to their fans to come buy tickets to watch and listen to them live.
Some musicians most especially big artistes organize concerts or tours around the Globe.
3. Through Selling of Digital Downloads
Musicians can decide to sell their music uploads on platforms for downloads.
They sell on platforms like Amazon and Apple Music.
4. Through Selling of CDs and cassettes
This is the oldest method but it is still in use by some musicians.
5. Through Brand influencing and personal businesses
This is a non-music way musicians make their money, but due to huge followings some musicians have, they are being used by brands who are music- related or not, to promote their brands to reach a wider audience.
And also, musicians also have their own personal businesses they engage themselves in which generates income for them, and having a huge following is a plus for them. Popular musicians like Rihanna, Kanye west, jay z, Beyonce and so on has their own personal businesses they run.