Thursday, March 1, 2012

Revenue Streams (pt 5 of Visibility Series)



 Professional Indie Artists I know and represent, who are making a living creating their music all have one thing in common, they all have multiple streams of income.

Are you’re a performing artist or a band?
 Then you know  you  have some revenue from live shows,  Hopefully you have Merchandise that you are also  generating sales from, *In addition to your cd's doo your fans like hoodies, Tshirts or hats? TIP: you can help drive traffic to your website if you have a online store integrated on your site, Some artists prefer not to deal with the inventory and  use a on-demand store like Zazzle.com, or Caf√©Press.com  

Popular Revenue Streams:

What are some other ways to add revenue to your business?

Live Performances- Tip Jars/ percentage  of the door / Guarantee-Fee for service
Merchandise- Always have something to give or sell to your fans, and know what they want!
Performance Royalties- *you must be registered with Sound Exchange who collects on your behalf.
 Private Parties-Corporate/ House concerts /Seasonal Events/ Weddings, receptions and other major life celebrations pay well.
Licensing- Film/TV/Ads/Cards/ Video Games/ etc
Gigging w/ other artists- there are 7 days in a week, make yourself available to other artists for gigs
Subbing for other artists- People get sick, if you can fill in on short notice, you can keep busy gigging and subbing.
Booking for other bands: Your already booking your own shows and have relationships with the venue owners? why not get paid to book for other bands?  Charge a nominal price per booked gig and you will keep cash in your pocket
 Sponsorships- If you have a large enough audience, Equipment manufacturers will often offer pro pricing, and discounts to sponsored artists.
Teaching/Instrument/Voice- 
Writing- Songs, jingles, Blogging, music books, 
Publishing: Books, songs, Podcasts

Evolve your web presence by creating web portals for the individual streams to create even more opportunities for your fans to find you on the web.

Taking advantage of your own skills, and the skills of your band mates to divide tasks.


How many different revenue streams are you using in your creative business? Share them with our readers in the comment section below.

Tamra Engle is a independent music business strategist based in the S.F. bay area she is available for private and business consultations  to help you develop your independent music business, & manage a balanced creative lifestyle, regardless  where you live in the world, You are only a skype and email away!  You can read more about her and join her mailing list at www.tamraengle.com  you can email her at guitartam@gmail.com

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