Building a career in the industry is probably your dream if you have a passion for music. However, the harsh reality is that topping the billboard chart isn’t a very likely scenario. So, even if you wish to pursue this avenue, it still makes sense to put some additional revenue streams in place.
Thankfully, there are plenty of ways to build a career – or at least a side hustle – from music. Here are four of the best.
Run A Label Or Management Company
Every successful singer or band has a record label and management company. By serving in this role, you could help others while making great money for yourself. People like Clive Davis have been inducted into the Rock and Roll Hall of Fame as a result of their work. This could be an ideal choice if you want to make a name for yourself in the industry while ensuring each day is a new challenge. It’s also a business you could start with a friend.
On a side note, your label or artist management company could be the ideal outlet to release your own music. So, it could potentially launch your dream career too.
Tutor Others
If you can play an instrument, you possess a skill that thousands of people wish they had. Many of them would be willing to pay for lessons on how to develop their talent. Naturally, then, this could be the perfect outlet for you to earn money. Tutoring could occur in a one-to-one setting or a small group setting. Whether visiting their homes, welcoming them to yours, or booking out a suitable commercial space is up to you. However, face-to-face teaching isn’t the only option.
In today’s world, online tutoring is equally useful. A series of vlogs could teach students how to play. You won’t charge as much per customer, but your content can reach a far larger audience.
Rent Your Home Studio Out
People don’t only want to learn music. They want to make and record it. Unfortunately, most musicians don’t have the facilities to do this. So, if you have a home studio, hiring it out for rehearsals and recording can be ideal. You must ensure that you have all the necessary gadgets and tech features. Once you do, though, the facility can earn you a lot of money. Or you may look to create a commercial studio if welcoming acts to your home isn’t for you.
The fact that you can use the studio space is a bonus. And as well as the facilities, acts may hire you to produce or oversee the session. This will create increased earnings.
Start A Music Venue
Finally, if you love being around music, opening a venue like Christine Karayan did could be ideal. Whether it’s famous stars or upcoming talent doesn’t matter. You can generate big profits from renting the space, food and drink, or commissions on tickets and merchandise. Crucially, you get to play a central role in the local music community while meeting performers. This could also open up additional revenue streams like podcasting or selling signed memorabilia.
It is another solution that could support your dreams of performing too. After all, if it’s your venue, you could always host a night yourself or support the main act.
