Wordsmith | The People's Blog

Rocking Out and Rolling in Cash: How to Make Money from Your Music During Lockdown

By

Chelsea Lamb

Freelance Journalist

Even in the best of times, it's tough to earn a living as a musician. It's even harder when you have to contend with social distancing. Here are some ways of profiting from your art during the pandemic and its limited in-person audience opportunities.

Livestreaming

After clubs shut down, audiences sought to replace the live entertainment experience with online substitutes. Subsequently, many musicians took to performing in real time over the internet. As clubs begin opening up, many audience members are bound to continue the habit.

Those who compile statistics about online activity estimate that livestreaming will be worth $247 billion by 2027. By selling tickets to online events or offering a virtual tip jar, you can rake in cash by performing right at home or anywhere else. All you need is a laptop or videophone and the right equipment.

YouTube and Facebook are good streaming platforms. Twitch has become increasingly popular with musicians. There are others, such as StageIt, which are exclusively for musical artists. Keep in mind that you don't have to limit yourself to performances on just one.

Merchandising

You can sell all sorts of products in addition to your music. These days, it's possible to make almost any sort of merchandise sale online. Naturally, you should have an array of T-shirts, hoodies and stickers available at your online store. In addition, include unique items that express your individuality. Try offering shot glasses, Frisbees, bandanas, baby onesies and face masks. Be innovative, too, and sell items that no other musician has ever offered.

Choose an existing ecommerce platform or build one yourself. If neither you nor anyone affiliated with your band has a talent for graphic design, hire a visual artist. Make products more desirable by limiting the availability of every design. Use clear branding so that each item sold doubles as advertising.

Incorporating

If you want to set the stage for maximum profit, you need an approach that matches your moneymaking ambitions and facilitates earning a passive income when you're unable to perform. Start by choosing the most appropriate business structure for your situation. There's a good chance that forming a limited liability corporation is your best option. Selecting this path comes with multiple advantages, including less paperwork, legal protection and sweet tax benefits.

 

States have different regulations regarding the formation of LLCs. Investigate which laws are specific to your region. Another option is sidestepping the research phase, as well as hefty lawyer fees, by hiring zenbusiness.com to handle it all for you.

Side-Hustling

Take on a music-related gig that's separate from your band or solo career. For example, you can earn a dependable salary by teaching music. Become a full-time educator or sell lessons on an independent basis.

Create a podcast about music. You can distribute the same content over a variety of sources, including YouTube and pod-specific platforms.

Get into media consulting, promotions, or artist management. Maybe you've written amazing songs that aren't right for your group or artistic persona. Consider selling them to artists who provide a better fit. 

Being a working musician requires heaps of talent and endless persistence, not to mention ingenuity and a knack for selling. Use the preceding tips to turn up the volume on how much money you make from your love of music. And for more music news, tips, and other resources, make sure to explore The People’s Blog by Wordsmith!

Wordsmith

Wordsmith is a songwriter, poet, recording artist, actor, playwright, entrepreneur and philanthropist from Baltimore, MD.

He earned a full athletic scholarship to play football at Morgan State University studying radio, TV and Performing Arts. A transfer to Salisbury University 2 years later earned Wordsmith a Bachelor's Degree in Performing Arts, Music & Theater in 2002.

Wordsmith is a Grammy Voting Member, finalist for the 2023 Baker Artist Awards, selected as one of 25 Black Marylanders to Watch in 2024 by the Baltimore Sun, 5 time ASCAPLUS Award winner, and winner of Best Rap/Hip Album for Perspective Jukebox at the 16th Independent Music Awards. His music and jingles are featured on prominent networks and shows like WWE, ESPN Sportscenter, Kawasaki, Russian Doll (Netflix), Unbreakable Kimmy Schmidt (Netflix), Preacher (AMC) and many more!

Continuing to expand his reach, Wordsmith is an International Exchange Alumni with the US Department of State. He has performed major concerts, humanitarian missions and held music/performance/poetry workshops in Azerbaijan, Haiti, Belarus, Lithuania, Latvia, Estonia, Angola, Ukraine, Namibia, Cote D’ Ivoire, Panama, Tunisia and Tanzania since 2016.

Wordsmith’s career took a new direction in 2018 when he was hired to write new narration for Carnival of the Animals with the Baltimore Symphony Orchestra. A second opportunity came when Wordsmith was asked to host the 2018 BSO Gala with special guest Cynthia Erivo. Officially becoming an Artistic Partner with the BSO in September 2020, Wordsmith & composer James Lee III debuted two commissioned pieces; “Destined Words” for the BSO Gala Celebration in honor of Marin Alsop and the Frederick Douglass inspired piece “Freedom’s Genuine Dawn.” Wordsmith followed up these performances with landmark reinterpretations of Stravinsky’s “The Soldier’s Tale”, “Beethoven Ninth,” his original classical fusion piece “Made in America” and the world premiere of “Network to Freedom, ” on MLK Day 2024!

Wordsmith officially opened his nonprofit “Rise with a Purpose, Inc.” in 2020, while delivering his first TED Talk via John Hopkins University. Always looking to expand his horizons, Wordsmith collaborated with composer/pianist Kory Caudill for an album called “Progressions” and a concert series called “Concert for the Human Family.”

Putting his Theater degree to work, Wordsmith wrote and directed an original play his theater students performed in called “The Purple Tape” to celebrate the 50th Anniversary of Hip Hop in 2023.

Wordsmith is currently working on a House music EP called “Free House” and teaming up for a jazz poetry album called “Nothing but Change Stays the Same” with Grammy winning pianist and composer Alex Brown.

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