How Musicians Can Make Money on The Internet
Posted on 1 August, 2015 by Team Wishberry
The speed at which consumers have shifted to digital information consumption has fundamentally changed the business model for most entertainment companies.While being unable to predict the next wave of digital innovation, the best shot for sustenance was to create flexibility by adapting and capitalizing. So, how do you monetize your work through the internet? After you’ve decided that you want your work to make money online via ads, web links are automatically created on your page where you get paid per click. More or less all digital distribution platforms can improve your revenue streams, via the monetizing option. Digital distributors focus on getting your work to the online stores and services. These companies have far less operating costs than normal distributors, as there is no physical inventory, no actual shipments and no copies to be pressed. Instead, their process boils down to receiving tons of creative work, delivering to online stores, receiving the revenue generated through sales or streams, issuing financial statements and paying them out. When you partner with a distributor, you have to sign a legal agreement, granting them the right to sell and distribute your music to generate revenues. Distributors service numerous customers hence they enforce a 'one size fits all' contract. Make sure that your legal agreement with your distributor does not give them the right to collect royalties. Also, take note of the termination clauses and terms of the agreement. Consider the most popular platform- YouTube. Each YouTube account has a channel attached to it, create an account, upload content, gain an audience via subscriptions, and enable monetization which means you’re allowing YouTube to place ads in your video. This also means that you acknowledge that there is no copyrighted material in your video. Setup Google AdSense, via PayPal or a bank account where you gain money per ad click. Become a YouTube partner, as partners gain access to more content creation tools, and can win prizes for the number of viewers they have. Apply for partnership through the YouTube Partner page, but you’d need 15,000 cumulative watch hours for your channel over the last 90 days in order to gain access to the most powerful Partner programs. Simultaneously you must also, distribute it via digital distributors.
Learn from the prosVasuda Sharma is a singer-songwriter who blends Indian classical and folk with western contemporary music. She’s explored different genres of music, experimented and collaborated with musicians from different parts of the world. Her current act called ‘Vasuda Sharma Live’ has massively used digital distribution. Was it very complicated? “It was extremely easy. I think it's one of the best ways to put your music out there especially for an indie artist. OK Listen has a tie up with The Orchard which distributes music world wide”, explained Vasuda. Rachit Sachdeva’s band, Symphony Novel is a unique blend of instrumental, progressive rock with classical Indian vocals textured over them. He’s been using digital to his advantage since quite a long time, and has a lot to say about how one should go about it. “I use CDbaby and Bandcamp to get the word of my music out there. When it comes to sales, Bandcamp works better as the sales come straight to the artist. All the artist has to do is put up the song; design the page, set rates and you’re good to go. The artist can also opt for a pay anything you want option, the Bandcamp fee is the only deduction that the artist incurs. However it is not a distribution platform, so I use Cdbaby to put my band’s work on all stores like iTunes, Spotify, eMusic, Amazon, and more. My band’s music is currently playing on Pandora Music Radio too, where we get streaming royalties.” When we asked him if he made any profits, he said, “Not yet, we need quite a lot of sales happening to get a substantial amount coming in. However, it’s more important to produce an album of excellent quality.
Artists shouldn’t compromise during recording, mixing, mastering.These things matter a lot, that’s the first thing that’d drive people to buy, and finally marketing yourself.” Hopefully you now have a much deeper understanding about monetizing your work via digital distributors. If we missed something important here, do let us know in the comments below!