Do you think that in the ‘80s an artist without a record deal could have succeeded? Probably not, but nowadays it's different. Most artists are independent. They have the control to record, compose, sell and promote their music as they want. They don't need someone to do all the work for them, however, it's more complicated than you can expect.

Of course, being an indie artist has advantages… but it also has disadvantages. One of them is the constant challenge to generate money because you don't have a fixed payment. But, is there a secret to making money with music? Or is it too difficult and few people make it?

If you are an indie artist and want to know how to make money with your music, read this article… and take note! But here's a hint, it’s possible to make money from your art.

For many years it was thought that you needed a record deal to succeed in the music industry. At that time the most famous artists in the world had a contract with the major record labels, and although they still exist, they're getting less frequent.

In case you didn't know, since the advent of social media and the possibility of promoting music through it, indie artists have taken control of their careers. This is historic, who would have thought it decades ago? Music is no longer just a hobby for many people, it’s also a business that can generate more income than you can imagine.

You just need to know how to use the necessary tools.

Finding Ways To Make Money With Your Music

By working alone you save yourself a lot of problems that artists with record deals often have. First of all, no one will tell you what to do! You have the freedom to say and do whatever you want. Secondly, you won't have problems with people who want to take advantage of you, because you decide who is going to work with you. There's no chance of someone hurting you.

So yes, being an independent artist is great. It allows you to do your work in the most honest way possible, without the need to have any external pressure. However, you need to be consistent and self-confident.

There is no greater pride than to be rewarded for your efforts, and that is exactly what it feels like to make money in music. Imagine writing a song that you are proud of and making money from it. That's the dream of many young indie artists!

Remember that you work for yourself, so you are responsible for all your decisions.

Maybe this can be a bit scary at first, mainly because you don't know what will happen in the future. But in reality, no one knows, right? Pursuing your dreams is what it's all about, simply doing what makes you happy. So don't let fear stop you from dedicating yourself to music.

To show you that it's possible, we'll tell you about the most effective ways to make money with music. Some of them may be obvious to you, but maybe you haven't tried some of them. And best of all, you can do it by yourself or with the help of friends and family.

1. Get your music on streaming services

Although streaming payments may be small at first (cents per stream), over time they can turn into large amounts of money. So, don't hesitate to put all your music on streaming, this will also allow your fans to listen to your songs whenever they want. This way you will have much more support and recognition worldwide.

2. Perform concerts or small live performances

Concerts and world tours are the most traditional way for a musician to make money, but when you are an indie artist you don't have these possibilities so fast. Nevertheless, you can start playing in places with few people, be it restaurants, bars, schools, or clubs. This way you can generate some money, and interact with future fans who are interested in your music.

Making money with your music is easier if you can think outside the box.

3. Sell your merchandising

If you have a small audience of fans, offer them the possibility to get shirts, sweaters, stickers, or even mugs of your music! You can do this through your website, and you can even offer your music (physically) in two ways:

• CDs: In the last few years, CD sales have increased exponentially, and this is an excellent opportunity to sell your music. You can do this when you have small live performances, and sign each one to get your fans excited.
• Vinyl Records: Buying vinyl has become the new fad that was rescued after a long time, just when it was believed that they were going to disappear completely. But the reality is that many people collect vinyl records (more than CDs). So you have a very good opportunity to sell your albums or songs in this format, which besides attracting the attention of the public, it’s affordable to make hundreds of copies and have them in stock.

4. Get royalties on your songs

When you are an indie artist, it’s very difficult to keep control of who plays your music constantly on Radio, web stations, or music channels on TV. Because of this, royalties that belong to you are often not paid. So we recommend you join an organization called SoundExchange.

They take care of collecting your royalties legally and without any hassle. And best of all, it's free!

5. Invest the money you make from your music! But do it consciously

Many indie artists don't know what to do when they get their first payment and tend to spend it on unnecessary things. So don't make that mistake! All the money you generate, invest it wisely in musical instruments, costumes for performances, or anything you need to continue working. The more equipment you have… the better prepared you will be for any future gigs, or performances you may have.

Finally, you learn the various ways to make money with your music. We hope it has helped you to have a clearer idea of the music industry for indie artists.

If you think this article can help other artists, share it and remember:

The key to success lies in confidence and effort. Never give up and follow your dreams!