We’re sure that if you ask any serious musician in the world, they’ll tell you the number one reason as to why they create songs is that it’s their passion, their love of music extends any other, sadly however, many artists struggle to fund their creations, let alone make a living.
In such an over-crowded market, the music industry is definitely a tricky place to make money, however it can be even harder to come up with funds to even tour or release your own music.
It’s a story that we hear all too often, and we hate it. That’s why we decided to piece together a few important options that musicians within Australia should utilise to fund their music career.
From making use of the myriad of online services, to lists of grants available and cost-cutting methods as well as handy additional tidbits that you may not have known existed, make use of our guide to help fund your music career.
Offer Your Musical Talents To Others
This may sound a little like selling-out, but allowing yourself to be hired by other musicians is nothing to be ashamed of, and is in fact a way that many musicians have got their foot in the door, providing enough monetary backing to finance their own creative future, take a look at the legendary Lou Reed or our own star Sia.
There are a myriad of jobs on offer for you musos. Be a part of the recording process as a session player/vocalist or behind the desk mixing and producing.
You can take your skills to the live travelling show too, on stage as a performer or even as a sound or lighting engineer. That’s not all, one only needs to look at the classifieds to see the ongoing amount of people looking for private music teachers.
Of course, albeit not necessarily the most popular option, you could even pen tracks for other established artists or to advertising. Yes, you are selling your art to another, however this can be the most lucrative way of adding some much needed coin to your own creative ventures and your name and work are still thrust onto the public ear.
These sorts of gigs are not only monetarily helpful, but often are the perfect place to meet more people within the music business. You never know what opportunity may arise by working with such a vast group of different artists and industry folk.
Discount Your Items With Sales
For any travelling artist, making bank whilst on the road is often found through merchandise sales, but what happens to your stockpile of goodies when you’re not touring? The answer is easy: discounted goodies.
There’s so much you can do, from offering cheaper prices on merch items, to creating discount bundles that include anything from CDs and LPs to rare tracks and early recordings. Not only does this bring forth a healthy stream of funds into your bands account, it works also keeps your name on the radar. Whether you like it or not, your band is also a brand, and a simple sale of your branded t-shirts and the ilk is a brilliant method of on-going promotion through your most important channel – your fan base.
Remember, just because you’ve got merch and records for sale at your gigs and online, doesn’t mean people are going to flock to them, instead, put sales on, especially if you’re not touring or releasing anything fresh, some income is better than none.
Apply For Music Grants
Music grants are one of, if not the greatest way to bankroll an artist’s creative endeavours. That saying, grants can be a little tricky, and often those they are designed for aren’t even aware they exist, or that they’re eligible to apply.
Just a couple of months ago, we spoke with three experts who’ve had plenty of experience with the grant process, the trio providing invaluable tips on not only how to apply for a grant, but to give yourself the best possible chance of bringing home the bacon.
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Start A Crowdfunding Campaign
Sure, the world of crowdfunding may seem a little too crowded, but for an artist with a dedicated fanbase and a strong pitch, this means of money can be the most financially and emotionally rewarding experience.
There are many websites that allow musicians to present their campaign on, examples include Pozible, Kickstarter, PledgeMusic, Sell A Band, ArtisteConnect and Oocto.
Crowdfunding is a resource utilised by local bands, who could forget Ne Obliviscaris‘ killer campaign that earned the band a ridiculous sum of money, even the likes of ’90s RnB queens TLC just successfully completed a project to get their final ever record off the ground.
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Find The Most Profitable Stores Available
Any artist can save a bucketloads of money and minimise any potential losses by finding the most ethical to artist retailers and online stores.
Take a look at Bandcamp, the website that allows a recording artist to both stream and sell music, as well as merchandise. The brilliance behind Bandcamp is that it cost absolutely nothing for a band to signup and have a profile. Bandcamp only takes a 15% cut from digital music sales 10% for any physical merchandise.
Another online method is through Store Envy. The free marketplace has two platforms: an online store and a social marketplace, allowing for both the sale of music and merchandise, as well as useful way of discovery.
Nodding to the internet once again, Red Bubble is an excellent way to sell any band merchandise. A free marketplace, Red Bubble includes a small base price fee then allows sellers to set their own price, the combined amount is what potential buyers see.
Of course, selling physical albums is imperative, however this can be pretty intimidating to know where to stock your work. That’s why we suggest checking out “consignment stores”. These outlets allow musicians to sell their work within a store, with the reseller only taking a small cut from each sale. The safety in using consignment is that artists are not forced to pay anything if the albums not sold. Thornbury Records in Melbourne are a perfect example of consignment, reporting to consignees quarterly.
At School? Apply For Scholarships
Australians are blessed with the ease of access to our wealthy array of tertiary education options to which there is no shortage that caters for our creatives including musicians. Although there isn’t millions many available, virtually all institutions offer scholarships that any and every student should apply for.
Partner With A Sponsor
Let’s be straight here, there’s nothing wrong with having your band sponsored by a business.
Touring and recording can be damn expensive, so why not source out a sponsor that can provide either financial assistance or gear and equipment to perform and record with?
The likes of Revolver Drums have a history of extending their helping-hand to artists, there’s absolutely no harm in reaching out to instrument stores with sponsorship offers, your band has the ability to use additional equipment whilst the store has a free form of advertisement.
It doesn’t end there, The Fader spoke with Chicago-based band White Mystery, who recounted the opportunities given to them through sponsorship: “The cost of making music differs for each artist, but the best way to make a profit is to work hard, look decent, be polite, and live frugal. Working with brands like Levi’s and Red Bull allows White Mystery to play shows for bigger audiences and take on creative projects like releasing a double album while remaining a 100% independent band.”
There’s Free Rehearsal & Accommodation – Use It!
Sure, this may not be a way to make money, but it sure as well saves you cash, which is obviously equally as important.
Earlier this year an extraordinary musical hub opened that actually offers free accommodation for touring artists. But that’s not all, there’s plenty of free or very cheap rehearsal spaces in major cities across Australia that we pieced together earlier this year.
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And Last But Not Least…
Work a day job. Yes, this is obvious, none of us can get by without any cash, however a stable in come not only helps your musical endeavours, but it will also keep you in a sense of routine, ultimately giving you comfort and stability to be able to create – just don’t let it consume your entire life.
