So You Want To Make Money Making Music (Or At Least Not Take A Loss)?

So You Want To Make Money Making Music (Or At Least Not Take A Loss)?
By +Joshua Leibowitz

With the +ReverbNation social media event coming up on the 16th, I've taken a closer look at my own experiences as well as some of what I've seen with other artists, to come up with my take on how independent musicians are making money these days.

I didn't get into making music for the money, but anyone who makes music on any level will tell you that it costs money to make music, even if it is buying a tape recorder, playing the spoons and selling it on the street on cassette tapes.  There are production costs that need to be considered.  Now that example might be extreme but if you are making your own music in your own studio or a reasonably priced one outfitted with an in house engineer, it's going to cost you some money. Then there's mastering if you choose to go higher fidelity as well as artwork which helps in both online promotion and physical packaging of your work. The nice thing is you can make all of it back over time as music and art never dies in the digital age and neither does marketing and the desire of music lovers to own your work, that's if they like it.

Aside from being prepared for music sessions, writing music that you yourself would love to play as much as possible live and recording it there is more that needs to be done for this to happen.  Once you've gotten some ink on the paper or sounds on the hard drive it is good to know that you are ready to start building your "beyond telling your friends in person audience".  You go and find sites like ReverbNation and SoundCloud to house your music, giving would be listeners or fans a way to see if they like what you are up to. When the album, EP or single is ready, there is BandCamp as well.  A great way to directly drive your audience to your music catalog is through Facebook, Twitter, Myspace (yes THAT Myspace) and +Google+.  If you already have gigs (concerts), using blank CDs and making an email list is a great way to engage people who have already heard you play.  Having the CD and any additional merchandise prepared for purchase and on hand is even better but in either case, you should provide info on how people can learn more about your music and where you are going with it.  Music in hand leaving the venue with listeners leaves people curious to spin the music perhaps on their way home or later, especially if they liked the show.  They'll probably leave it in the car...or chuck it!

This audience is one you will need to continue to engage on a friendly and musical level.  You will try and get reviews so there are 3rd party opinions with links attached so you don't have to be too much of your own promoter, as that could come across as bragging and some people just might not like it. Some reviewers will insist on going over hard copies only as opposed to what is on your sites.  Be prepared to spend some cash shipping them.  Music is very personal and people like to approach getting into an act different ways.  At least I do.  As time goes on and you continue to release your music and see the song listens you have accumulated as well as fan counts and sales, you must continue to make more music and keep the outlets that you like most to promote your music and spread the word about it current, so you don't end up being forgotten or lost in the mix of new artists that are popping up everyday.  There are millions of acts trying to be heard and a number of factors plays into whether or not you will be one of them. They want to know that you are passionate about what you do and that they have the chance to either buy your music, obtain your music otherwise and see you live--That's if you're lucky and skilled enough to pull this off.  I've seen my favorite bands over 10 times and have bought some of their albums twice when one copy has gotten lost or scratched...or when the work has been remastered. That's what rabid music fans do.  They are proud of the music and musicians they support and they don't want you to let them down by not caring about the work as much as they do.  That would be a real disappointment I'd imagine.  You need to believe in what you are making 200% and if you are serious about getting to the stage and never give up.  You're a musician, you couldn't quit if you tried anyway.

The money part.  OK, you've got 50,000 fans...Let's say 10% have picked up your album one way or the other and paid for it with an average price of $10 (downloads are cheaper than buying hard copies or should be), You've made $50,000 before subtracting your production costs.  This is good if you are a solo artist but split that 4 ways and...well, it's still good but below the poverty level.  This means you need to get out and play more shows or start playing shows if you aren't already, sell many more albums and stay on the road to sell as much as possible to keep what you are doing possible...maybe even boot out one of the lazy guys in the band.  Gas is not free.  Neither is food or hotel rooms.  Hey, at least you covered the costs of making the album and put some nice scratch in your pocket, but you still need more or less a full time job if you want to live with some degree of safety and comfort.  As long as you keep things in perspective and know what you want to get out of the experience, you really can't lose...Otherwise...

(listen)

Guitar For Money

www.facebook.com/leibowitzmusic
www.reverbnation.com/leibowitzmusic
www.leibowitz.bandcamp.com