So what can you actually do to take advantage of new opportunities in the music industry? Try this new tips i found on naijaloaded. Hope it will let you make your way in the Music Industry.
Sincerely these are four methods working for artists today;
1. Live Performance
Live performance has been the preferred way to make a living making music long before the recorded music industry ever existed.
Live music is alive and well, and is managing to grow even as the rest of the music industry struggles.
Performances, unlike mp3’s, can’t be duplicated. You simply have to be there to experience it. And so live performance is unlikely to go anywhere in the future. The demand is high, and the only way to fill the supply is by more and more artists performing. As long as there is music, there will be performance.
But that doesn’t mean you’re forced to perform in the traditional ways. Bars and clubs aren’t the only options.
The Internet has opened up new ways to perform which didn’t exist just five years ago. One route is through live video performances, either for a small, personal audience through a service like Skype, or for a large audience through platforms like Twitch. On Twitch, you can live-stream your performance, interact with your fans through chat and video, receive payments, and sell merchandise.
Some artists are using connections built through the Internet to book small house shows all over the country. The crowd is small, but intimate, and fans are willing to pay more in order to actually meet and hang out with a favorite artist.
2. Physical Goods
Digital goods aren’t perceived to have a high value, because the cost of making another copy is essentially $0. That’s not true of physical products, and that’s why fans are willing to pay a lot more for these goods. This is precisely why vinyl has had such a startling comeback in recent years. Of course, merchandise is another wonderful example of a physical good which has remained strong as a source of income for artists. This is especially true in combination with…
In almost every industry, exclusives are a primary way to increase income. People absolutely love being the very first to have something; they love having content no one else has; and they especially love having personalized items from a favorite artist. This is why small performances are so valuable, and it’s the reason that physical sales can be so effective.
For example, you can make the best of your merchandise by taking advantage of limited-release lines, including personal autographs and hand-written notes, and exclusive merch that’s not available to people who haven’t bought your music. In the Nielsen study I mentioned earlier, it was exclusive content that fans craved, and it’s exclusive content that could add more than $1 billion in revenue to the music industry each year.
Patronage is not new to the music industry. Legendary composers, including Bach, wrote their compositions under a patronage system. But the system has had a modern-day resurgence through sites like Patreon.
This system is especially powerful for acapella groups and cover artists. Individuals and groups who perform well on YouTube also tend to find success on Patreon.
The key to success with patronage is through the exclusives mentioned above. You’re finding ways to deliver unique and satisfying experiences to the people who are willing to support you each month.
The three suggestions above all include ideas for perks you can give your supporters, and it’s also worth looking through successful Kickstarter campaigns or top Patreon artists to see what they are offering their supporters.
The record industry is suffering from declining music sales, but things are looking up for artists. If you’re willing to take your destiny into your own hands, there’s an abundance of new ways to build a fan base and earn an income online.