As entrepreneurs, we should strive to generate as much passive income as possible. What is passive income? The best way to define this term is by doing a job once and profiting from it over again and again in the future. In this post I am going to explain how to make passive income for musicians, passive income for edm producers, passive income for instrumentalists and passive income for music artists, in general. This post also includes music marketing strategies for increased revenue
There are affiliate links and banners in this post as well as links to my passive income streams. If you click on them and make a purchase, I will make a small commission. This will help me to continue to provide you with the kind of value that you are going to be reading in this post. Therefore, I would just like to say thank you in advance.
Get Your Free Copy of
The Complete Guide to Music Marketing 2021
Over 80 pages packed with sensible, actionable
advice, resources and aha moments
Passive Income Streams That I Use
I have actually made money with the different passive income streams for musicians that I am going to mention below.
Make Passive Income For EDM Producers With Stock Music
I have made several sales of music that is to be used as stock music. Some of this has been sold as computer game music, video background music, etc.
Stock music actually represents your biggest and best opportunity to get into profit as a musician. This is because a lot of it is constantly being bought and sold. People also want to be unique. Therefore, they will purchase the best and most unique music they can find. I highly recommend that you get into writing stock music.
Stock Music Licensing YouTube Channel
I also recommend a YouTube channel for you to subscribe to. This YouTube channel is called Stock Music Licensing and it is run by a man called Daniel Carrizalez. Daniel is not afraid to tell you the truth about writing stock music compositions for production music libraries. Therefore, I would highly recommend that you subscribe to Daniel’s channel, hit the bell and learn from him.
Where to Sell Stock Music
There are a tonne of production music libraries where you can build passive income for musicians.
Making Passive Income For Music Artists With Pond 5
I have sole quite a lot of music through Pond5. You can find my profile here. One of the things that I appreciate most about Pond5 is that they will send you briefs of what their clients are looking to license. Therefore, it is best if you can turn your hand to many different genres of music. However, take a listen to the briefs that they send over and choose one from the three different genres that they will request. Which of these can you make a better job of writing?
Stock music composing is a great way to make passive income for EDM producers or to make passive income for instrumentalists. Furthermore, it does not matter what instrument you play. You can make passive income for instrumentalists with the instruments or instrument that you currently play..
Make Passive Income For EDM Producers With WeMakeDanceMusic
As the name suggests, WeMakeDanceMusic specialises in dance music. We will talk more about their other products later in this post. However, just to show you that they also do stock music. You can find stock music for literally any genre here. It is not just focused on dance music.
I have produced a lot of different music and different products for WeMakeDanceMusic. You will find my profile here.
Using Woocommerce to Sell Products on Your Own Website
I also recommend that you sell your products on your own website. This can be done with the Woocommerce plugin. Woocommerce will allow you to sell any product you like. You can also buy add-on Woocommerce plugins for additional features such as affiliate marketing features, etc.
I recommend that you use Woocommerce in addition to the other websites mentioned. You can use Woocommerce to sell any or all of the products mentioned in this post.
Make Passive Income For From Songtradr
Although, I haven’t really made many sales with Songtradr, they are still worth investigating with a view to making passive income for musicians. Therefore, I would recommend that you check them out. For me, the best part of Songtradr is the analytics. However, the biggest reason that I haven’t made many sales with Songtradr is that I haven’t put my focus on them. As a blogger, I try to make one track per week and repurpose it for different products. We will talk more about these next.
How to Repurpose Your Tracks For WeMakeDanceMusic
With one track, you can repurpose it into the following products so that you can make passive income for EDM producers with WeMakeDanceMusic.
- Templates for the DAWs that you use
- Preset packs with any adapted presets for major synths
- sample packs
- midi packs
- stock music
- Combinations of the above for the same song or a pack of songs
You can also choose your own prices for the above products. You probably won’t get a 100% acceptance rate, but they do accept most of the music that you will be submitting to them as long as they are good. Find out more and join WMDM here.
Another great resource that WMDM provide is their YouTube channel. They produce new videos on a daily basis and show you how you can create some great music. The repurposing part is something I figured out on my own.
Generating Passive Income With Udemy Video Courses
Udemy are always open to new course tutors. This is something I have not done as I don’t consider myself to be a particularly good teacher. I am a blogger. I focus on the written word, but when it comes to teaching in person, I am not confidence with my ability. However, creating a Udemy course will create passive income for musicians of any genre or instrument.
However, one thing I can boast about with Udemy is that I am probably one of their most prolific students. I have around 230 courses. This is mainly because I have been mentored by Alex Genadinik. Alex sells his time along with his courses. If you want 15 minutes with Alex, you have to purchase one of his courses for £10. This is a great agreement because you have more to learn whenever and wherever you like.
You can sign up as a tutor here.
Make Passive Income For Instrumentalists With Udemy
If you can teach an instrument, teach people to read music, or teach any kind of music technology, you can make a course about it and generate passive income for instrumentalists, passive income for EDM producers or whatever your subject is about. Therefore, if you are a music artist of any discipline, you can just teach what you know.
Music Marketing Strategies For Passive Income
Just as your actions in making these products resulted in passive income, so can your music marketing strategies. For instance, you will only need to produce one video, one campaign on Pinterest, Instagram, SoundCloud, a blog post, etc. I am going to show you all of these ways and explain how you can make passive income as a result of doing these things.
Using YouTube to Create Passive Income for Musicians
Once you have created a YouTube video, it will continue to be viewed in the future. YouTubers will just create a video and forget about it. However, that does not mean that it is forgotten about. So long as the YouTuber does their keyword research well, the video will continue to be viewed for years to come.
I still find a lot of value in videos from as long ago as 2013! Seriously, I do. There is still some fantastic material on YouTube that is that old. You are not paying for additional web space so creating a video on YouTube is really a set-and-forget thing.
Making Pinterest Pins For Your Products
You can create Pinterest pins that will bring you passive income for music artists, for many years to come. Whether it is passive income for EDM producers, rappers, passive income for instrumentalists, or whatever, you can use those music marketing strategies that will bring you passive income for years to come by just designing and publishing some Pinterest pins.
I use Tailwind for my Pinterest scheduling and it is one of my best traffic generation strategies. Tailwind is a great service for people who want to generate passive income for music artists or passive income for any other kind of product.
Using Instagram to Create Passive Income For Music Artists
One of the main reasons why I recommend that you use YouTube, Instagram and SoundCloud in your music marketing strategies is because these music marketing strategies allow you to play music and show your prospects a video of what they can expect from your products. This produces the very best results because people will know exactly what they will get from your product.
With Instagram, you can publish a video to IGTV and this will help you to generate passive income for music artists really well. The only thing I don’t like about Instagram is that both Instagram and Facebook have a very poor reach.
I highly recommend that you use SoundCloud along with Hypeddit in your music marketing strategies to create passive income for musicians. This is because SoundCloud is great at showing your products to your target market and advertise your link to purchase the DAW project file or whatever else you want to lead with.
Passive Income For Musicians From Blogging
Blogging is another channel that can be used as a music marketing strategy for passive income for music artists. The only thing to remember here that doesn’t quite make it a set-and-forget is that you need to keep paying for hosting. I highly recommend that you get a year’s hosting upfront as a minimum. If you pay monthly and something goes wrong with the payment, you could find that your blog is no longer active. This shouldn’t be a problem, but it is a bit of a headache when you have put so much time and effort into it.
Thank you for reading Passive Income For Musicians: Streams and Strategies. I hope you have enjoyed reading this post and that it will help with the development and marketing of your own music. Furthermore, I hope you will use these income streams and music marketing strategies for your own financial benefit.
If you would also like to read my other recent posts, you can find them here…
- LoopCloud 6 by Loopmasters: A Review of LoopCloud 6?
- How to Plan Your Music Promotion Campaign
- How to Boost Your Mental Health and Build Your Music Career
- Why Now Is The Best Time to Start a Music Career
- How to Make Money From Blogging as a Music Artist
Get Your Free Copy of The Complete Guide to Music Marketing 2021
This book includes more than 80 pages of music marketing strategies, resources and aha moments that work in 2021.