21/06/2023
How to earn money as a music producer in 2023
Are you a music producer looking to make money in 2023?
It's no secret that it can be difficult to monetize your craft — with the added challenges of competition from amateur and professional producers alike, as well as the constrained budgets of modern labels.
Fortunately, there are strategies you can use to ensure financial stability while still creating impactful work.
In this blog post, we'll explore some common sense tips on how music producers can generate substantial income over the next few years.
Read on to learn more about marketing yourself effectively, pricing your services competitively, and getting paid for streaming royalties and other related projects.
With these simple strategies under your belt, you'll be ready to maximize your potential — and start making money — as a music producer in 2023!
1. Streaming royalties
The production of music that captivates listeners' ears can lead to a significant revenue stream through royalties.
In essence, music royalties are earnings accrued from making your music accessible on various music streaming services and social media platforms such as Spotify, Apple Music, Amazon Music, and others.
Each time a listener indulges in your track, you generate income. Thus, if you haven't yet ventured into online music distribution, consider it.
Several platforms offer dedicated calculators to estimate your potential earnings.
How can I upload my music to streaming services?
You need a distributor that uploads your music to all popular streaming plattforms like Spotify, Apple Music and Amazon Music.
One of the best and easiest distributors is Distrokid (click here!).
2. Digital music sales
Although digital music sales have seen a decline in recent years, it remains an important revenue stream, particularly for music producers catering to DJs.
DJs often seek high-quality versions of tracks and rely on platforms like Traxsource, Juno Download, and Beatport that host exclusive tracks from top artists.
These platforms are well-structured, featuring contemporary charts and recommendations.
To get your music on these platforms, you need a label with a distribution deal, and numerous labels accept demos.
Additionally, you can opt for total independence using sites like Bandcamp, where you can sell your music directly and set your own prices.
3. Selling Beats and Samples
The beats, loops, and samples you create present a unique opportunity for income generation online.
The beauty of it is in its repeatability. Despite the emerging competition from AI production tools, skilled producers can continually generate income through a cycle of creation, sale, and profit. You can monetize your beats and sample packs through your own music website or through external services and websites.
When determining the price of your beats and samples, consider the pricing strategies of other producers at a similar career stage. Prices for beats, loops, and samples can vary considerably, so several factors should guide your decision.
Where can I sell my beats?
One of the best marketplaces for buying and selling beats is Beatstars!
4. Audiojungle
Audiojungle is an online marketplace for royalty free music and sound effects, allowing producers to upload their work and get paid for it.
It’s a great platform for those who are just starting out in the music production game, as it allows them to make money from their productions without having to seek outside support from labels or other sources.
Click here to check out Audiojungle now!
5. Working with a label
A label handles a couple of things for you: Such as marketing, visual design, distribution, possibly mixing and mastering and financial support.
If you’re a music producer in 2023, working with a label is a great way to make money.
Labels will generally reach out to artists that they are interested in working with, however it’s also possible to take the initiative and contact labels yourself.
It’s important to research the types of music they produce and make sure your music is a good fit.
A label will also help with marketing, promotion and distribution of the artist’s work, as well as offer financial support in terms of advances or royalties.
They may also be able to provide access to resources such as studios and equipment.
Working with a label can be hugely beneficial for an artist, so it’s worth exploring this option if you’re serious about making money as a producer in 2023.
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6. Produce for other artists
Offering production services to other artists requires a specific skill set, one that many budding artists lack.
This gap presents an opportunity for your production expertise to be sought after by artists who need assistance with the complex technical aspects of recording and production.
Apart from the monetary gain you'd earn from producing unique soundscapes for emerging artists, you'd also elevate your industry reputation through exposure from music collaborations and fostering relationships with other creative individuals in your field.
7. YouTube channel
With the rise of social media and music influencer marketing, many producers have become vloggers, utilizing YouTube to upload their beats and grow their fanbase by sharing regular music production content, establishing themselves as an authority in the field.
Develop a consistent upload schedule and share engaging content that budding musicians will find valuable, such as gear and equipment recommendations, a home studio tour, behind-the-scenes content, giveaways and production techniques and tutorials.
Uploading only your music might not be enough, stand out from the crowd and create unique videos that creates interactions from your audience.
Remember, monetization is crucial, but you'll only be able to monetize your channel once you've reached 1,000 subscribers and 4,000 watch hours.
8. Influencer marketing
You spend a lot of time and effort into your social media channels.
How about if you use your reach and transform it into real money?
When you reached a certain amount of followers you can start reaching out to companies and ask them if they are interested in collaborating with you.
You will show their products in your posts and they will pay you for your post or story.
9. Ghost production
Despite the ominous name, being a ghost producer isn't as spooky as it might sound. 🤠
Essentially, a ghost producer is someone who anonymously crafts music for other producers.
Although you won't receive direct credit for your work, you'll be rewarded with financial compensation, which can serve as a lucrative secondary income source.
Furthermore, numerous platforms like EDM Ghost Production and House of Tracks facilitate the process of offering your ghost production services.
10. Freelancing
Leverage platforms such as Fiverr and Upwork to connect with a diverse range of clients needing musical expertise for various projects, including website development and startups.
Freelance work offers the flexibility of opting in or out at your convenience.
You could contribute to a range of exciting projects, from creating background scores for short films to undertaking editing tasks.
In the process, you gain new skills and earn a potentially substantial paycheck upon project completion.
Fiverr is definitely the best known plattform for international freelance jobs with tons of customers and users.
11. Mixing and Mastering
If you possess advanced mixing and mastering skills, this presents another potential revenue stream for you as a music producer.
The process of mixing and mastering often marks the final step in delivering a polished album and typically requires a professional touch.
It's not uncommon for music producers to evolve into sound engineering careers due to their expertise in these areas.
Remember, mixing and mastering are two distinct processes, both highly valued in the industry.
If you want to upgrade your mixing and mastering skills...
Check our Ultimate Mixing & Mastering course!
Try our Mixing And Mastering Course now!
12. Sync Licensing
Sync licensing and deals offer a lucrative income source for both producers and artists.
Many music producers create the sonic cues and instrumentals that feature in movies, TV shows, video games, and more.
If your track is used as a soundtrack in any of these audiovisual media formats, you'll earn from sync licensing.
The video game industry is particularly ripe for music producers. Given the importance of background scores, soundtracks, and sound effects within gameplay, creating music for video games can be an accessible avenue for experienced producers.
To get noticed by TV producers and game developers, build a portfolio of original, high-quality tracks that showcase your abilities.
13. Live DJ’ing
If live performance is your forte, DJing gigs can complement your music production work and provide a substantial additional income.
The live electronic music scene is thriving, but it's also highly competitive. Starting small and local is a wise approach.
Begin by playing sets at nearby clubs and pubs, and as you gain recognition, you can progress to larger venues.
You'll earn income from promoters, venue owners, or ticket sales, and you'll also accrue performance royalties—a win-win situation indeed!
14. One-to-One Teaching
Once you reached a certain level of production quality you can start teaching other producers!
Advancements in digital technology and the prevalence of video chat have made one-on-one teaching a viable option, either in-person or online.
15. Online Courses
Platforms like Udemy and Coursera allow you to design, produce, and sell structured courses on various aspects of music production, ranging from introductory tutorials to advanced processes.
16. Patreon
Crowdfunding and music subscription services like Patreon provide an excellent platform to share your expert knowledge and get paid for the resources and teachings you provide to contributors.
Patreon is the perfect place to build a community of supporters and receive regular payments. You can offer your community exclusive content like free music tracks, behind-the-scenes, giveaways, personal infos, discount on your music or tickets.
17. Preset Designer
Falling under the broader category of freelancing, preset designing has a unique twist.
Many software companies seek expert producers and engineers to create preset libraries for their plugins.
If you can quickly and deeply learn new software, you might have an advantage in delivering preset libraries that make the final cut.
This also provides an opportunity to make your name known in the producers' community.
18. Merchandise
In addition to selling your music, beats, and samples, you can earn substantial income by selling personalized music merchandise that your fans can proudly display or wear.
Great merchandise products are t-shirts, posters or mugs for example.
Once your merchandise is designed and produced, you can distribute it via your website or e-commerce platforms like Printful and Shopify or via your social media channels.
19. Renting Studio Time
Owning a well-equipped home studio is akin to striking gold in music production.
Not only does it enable you to create sensational beats and loops, but you might also find numerous budding producers willing to pay for the chance to use your setup and equipment.
If you've already set up a home studio, consider charging artists who wish to record their music there.
20. Other Skills: Graphic design, video editing, writing
Utilizing other creative talents such as graphic design, video editing, photography or writing can make you a well-rounded artist and a savvy creative entrepreneur.
Most music producers possess various talents beyond music creation.
By leveraging all your skills, you can maximize your financial growth.
Don't hesitate to explore and step outside of your comfort zone.
The strategies listed above are just a few smart ways to monetize your skills as a music producer.
While it might seem daunting, hard work, perseverance, and versatility are key to thriving in this challenging industry.
Remember, you don't have to be a starving artist forever. Take proactive steps to monetize your passion and transform your life.
21. Selling Software
If you possess strong coding skills, you can capitalize on this by selling plugins.
Here are four effective ways to sell a plugin:
Innovate
Develop a novel solution to a time-consuming and inconsistent process. Examples include Oeksound Soothe, AI-based plugins, or Cradle The God Particle.
Improve
Improve upon existing solutions. This could involve a race to emulate hardware better or create a cleaner-sounding and more comprehensive synth.
Simplify
Develop simple, easy-to-use plugins that can speed up the production process significantly.
Authority
Collaborate with expert producers and engineers to create a signature plugin that encapsulates their expertise in software form.
Conclusion
The music industry is a vast and diverse field where there's always room for growth, creativity, and innovation.
With hard work, perseverance, and a willingness to step outside your comfort zone, you can exploit these opportunities to not only expand your skillset but also enhance your financial stability.
Remember, being a successful music producer is not just about making great music; it's about leveraging all available resources and turning your passion into a sustainable and rewarding career.
Don't let these opportunities pass you by.
Instead, embrace them, and start transforming your musical journey today.
Do you want to upgrade your sound quality with next-gen samples, vocals and loops?
Get your gears going and produce a track today..
Try our Ultimate Producer Bundle 2023 including over 28 sample libraries now!