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!