Imagine two people. One is a toy-maker. One is a masseuse.
Imagine both get suddenly famous. Now a million people want that toy. And a million people want a massage from that masseuse.
For the toy-maker, that’s no problem. Have the manufacturer make a million more.
For the masseuse? That’s a big problem. She’s limited by her hands-on time.
So which business would you rather be in? One that makes money while you do other things? Or one that only profits when you’re present?
This is the problem with advice telling musicians that since people aren’t buying recorded music as much, they should just be in the hands-on business of playing concerts. You can see the flaw in that plan. As a musician, you must not buy into that “only earn by performing” belief because it limits your income!
What other ways can your music be a “while you sleep” income-earner?
- write songs for others to perform
- create commercial-use music for businesses
- get your music into film/tv
- paid-area access to your web-archive with all your music, even works-in-progress
- make it easy for fans to donate
- create a recognizable brand once, then license the name or model to others (like “Chicken Soup for the Soul”)
- franchise your band: train multiple bands how to sound just like you, then you get a percentage of their gig income
- create music-education programs for schools
- release your unmixed tracks for fans to remix, letting them sell the remixes on a 50/50 split
Whatever income ideas you come up with, make sure you’re being paid for more than just your time.