Music is said to be one of the most delicious food the human soul enjoys. It is a form of combining different notes, beat and voices in sequential order.
Furthermore, when discussing Music in Nigeria, it is the most fashionable and lucrative business that every young lads will ever want to engage him/herself in.
However, to succeed, you need:
(1). Talent And Passion: Discover your ‘talent’ is the step you must pass through before making money as a musician. After getting convinced, realizing that Music is your talent, then ask yourself the category/class of music you are good at, either RnB, Raps, Afro pop or Dance hall .
(2) Uniqueness And Quality: You have got to be unique and avoid copy-singing, especially, other artists music/ works. Be original, let your talent, hustle and hard-work speaks for you.
(3) Make Hit Single: On the issue of making a “Hit Single”, it is a must! If you want other people to know more about you and your music, you need to make a ‘hit single’.
- Promotion And Labeling Your Music: Promoting yourself, your music and record label will not only make you famous but drives loads of money making opportunities to you. You can give your music to Music/Entertainment website to promote it for you. Bloggers are always ready to promote you and your music as long as you pay /appreciate their effort.
- Market Your Songs: After wide promotion, you need to start making it more bigger than before. Start selling your song CDs to people. Here, you would need to have a good producer and marketers who will do the rough job for you. Apart from selling CDs, you can also sell your music online.
Vine, soundcloud, sportify, iTunes, Amazon and lots of companies are ready to buy your songs on the internet. Collaboration with other artists will be of greater advantages to you.
Sources of Income
While some of the sources of income listed below may seem obvious, you may not have tried others for your career.
- Compact Disc (CD) Sales
Prior to the development of streaming technology, sales of compact discs ruled the day. Prior to the streaming period, it was the most dependable form of music distribution, but there were numerous flaws that gave rise to new techniques, one of which is piracy.
- Digital Sales
New avenues for musicians to sell and monetize their music have emerged thanks to the development of new technology. The ability to upload music to digital streaming platforms like Boomplay, Spotify, Apple Music/iTunes, and YouTube allows artists to make money when fans download, stream, or listen to their music.
- Licensing
A license is a right that the owner of the copyright or his or her agent grants to allow for the broadcast, reconstruction, or performance of a work protected by a copyright. For the privilege of airing a musical composition protected by copyright on their platforms, artists (songwriters) and their publishers are compensated with royalties. This covers live performances, radio airplay, movie soundtracks, commercials, TV broadcasts, podcasts, and webcasts, among other things.
- Shows, Concerts And Tours
Concert tours, which are a series of performances by an artist or group of artists in various cities, nations, or locations, are the primary source of income for musicians. Concert tours frequently have names to distinguish them from one another and to link a particular tour with a specific record or product.
- Endorsements
In order to use the musician’s name, likeness, authority, and reputation to promote their goods and services, brands work with musicians by giving endorsement arrangements. Depending on the terms of the agreement, the artist is compensated in some way in return.
- Merchandise
Another effective way for musicians to make money is through merchandise. Sales of items with cultural significance, such as T-shirts, hoodies, face masks, vinyl, wristbands, etc., are included.
- NFTs (Non-Fungible Tokens)
At the moment, NFT art is dominating the globe, and its future will provide artists more authority. NFT art is revolutionizing how NFT artists may work, develop new projects, and take control of their art, as well as revolutionizing how artists get compensated. Now, artists can profit from the selling of NFTs. Given how promising it is, it might even transform the industry in the coming years.
- Distribution Deals
As it connects the performer with the record label, this approach puts you in control. Independent musicians are better off making money this way because they may either manage their own record label or let the distribution company do it.
- Monetisation of Facebook And Instagram Music
The possibility of making money from the music you upload on Facebook and Instagram is unknown to many people. You might ask, how? Facebook, which now includes Instagram, works with specific record labels and distribution firms to monetize your music on Facebook.
Your music will be uploaded to Facebook’s database with the aid of a record label or distributor so that users may browse it and select songs based on their preferences. To stop users from violating Facebook’s policies, this process is monitored and recorded.
- Through Youtube
This is one of the well-known ways that musicians can earn money. Today’s technology makes it relatively simple to upload content to YouTube. There are numerous ways to monetize YouTube. Which are: To begin with, you can make a cover page and record a beat before submitting it to YouTube.
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