Making a six-figure income as a musician is not impossible. In fact, it is quite achievable if you are willing to put in the work. There are many things you can do to build a six-figure income as a music artist, and in this blog post, we will discuss some of the most important ones. So whether you are just starting out or you have been making music for years, read on for tips on how to make more money and live comfortably from your music career!
First step to making six-figure as a musician
The first step to making a six-figure income in any profession may not be what you think it is. There is a Chinese proverb that says “A journey of a thousand miles begins with a single step.” When it comes to making a six-figure income, we can take two meanings from this.
First, you have to of course take that first step. You won’t make any money or get anywhere if you do not simply start. That means getting out of your parent’s basement and playing some shows. Maybe busking on a street corner. Whatever it is, you need to take the first step by going and making at least some money.
The second thing is, just because you took the first step or two, doesn’t mean the journey is over. You need to continue taking steps every day, learning and progressing in your music career. This is a journey that could take years, but if you are willing to put in the work, it will eventually pay off. It’s not a case of thinking this will be a quick and easy path. It will take a lot of perseverance and long hours.
Always be learning more
One of the most important things you can do if you want to make a six-figure income from your music career is to always be learning more. Take lessons, read books on music theory, and practice as much as you can. The more knowledge you have about music, the better equipped you will be to make a good living from it. Of course, you don’t need to have a degree in music to be a successful musician. If you want to make more money, it will also help to know as much as you can about the music industry and the business side of things. The more you know, the better you will be able to navigate the landscape that is the music industry and the better equipped you will be to handle new opportunities.
Lastly, don’t stick to just learning about the music business. Learn personal finance so you can better handle your money. There are far too many stories of musicians that lost it all because they let someone handle their money and didn’t keep tabs on it themselves. Learn other skills that can be applied to your music career. Graphic design? Use it to design your brand elements such as the logo, merch designs, etc…
Be clear about your brand and target market
Another important thing to do if you want to make six-figures or more from your music career is to be clear about your brand and target market. Who are you as an artist? What kind of music do you make? Who is your target audience? Once you have answers to these questions, it will be much easier to market yourself and your music. If you are clear about your brand, it will be much easier to get people interested in what you do.
Build your professional network, not just a fanbase
A lot of musicians think that the only people they need to network with are other musicians. While it is important to network with other artists, it is also essential to build relationships with industry professionals such as managers, booking agents, labels, publishers, etc… These are the people that can help you take your career to the next level and make more money.
Creating a network of industry professionals will take time and effort, but it is worth it if you want to make a six-figure income from your music career. Attend industry events, meetups, and conferences. Get involved with online communities and forums. Connect with people on social media. The more connections you have, the better your chances of making it big in the music industry.
Build as many streams of income as you can
The final piece of advice is to build as many streams of income as you can. Don’t rely on just one thing to make money. Play live shows, sell merch, license your music, teach lessons, and so on. The more ways you have to make money from your music career, the better off you will be. Look at artists like Periphery. They have a multitude of products they work with brands to produce, and of course, they make money off of the licensing with their branding.
There you have it! These are just a few tips on how to make six-figures or more from your music career. If you put in the work and follow this advice, you will be well on your way to making a great living from your passion. Thanks for reading and good luck!