Melodies and Profit: How to Make Money as a Songwriter
aaamusic | On 15, Jan 2020
Being creative is one of the greatest parts of life. While not everyone is born with a desire to be in the spotlight or to become a superstar, that doesn’t mean they can’t still make money from their work.
Songwriting is a special talent that can also be extremely profitable. Believe it or not, anyone can actually strike it rich, or at least makes a few extra bucks, writing songs in their basement.
What is the secret to how to make money as a songwriter? Well, you’ve come to the right place for answers. This article takes a look at how to become a paid songwriter. Keep reading to discover insight into this fascinating industry.
The real secret to making serious money in the songwriting business is to understand publishing. While the person who records and performs the song might make big money, the person who owns the publishing rights will typically be the one getting rich.
This is because the songwriter gets royalties from every album sale, every time the song is played on the radio or streaming services such as Spotify, as well as through licensing agreements on TV shows, movies, and commercials.
In fact, maintaining ownership of the publishing rights is one of the most profitable deals in the entertainment industry. Write a big song that really pops, and you likely won’t be able to spend all the money you’ll make.
When you own the rights to a song, there are endless ways to license its use so that you can continue to make money decades after the song is recorded. Every TV show and movie is filled with music, and someone had to write each song. Thus those people are still taking home a cut of that song every time it’s played.
Recording & Distribution
You can also make money by making and selling an album. When you’ve written a collection of songs, you can record them yourself or sign a deal with a recording company. This will enable you to get paid every time of copy of the album or single song is sold.
Perhaps the easiest way to make money from your songs is to perform them live. Performing for an audience enables you to charge admission or play for tips. The more popular you become, the more fans you’ll make, and thus the bigger the crowd you’ll draw to your shows
You can also sell albums and other swag at your show, putting even more money in your pocket.
Once you start hiring band members to play with you, you can use www.paystubs.net to pay them.
Start a Record Label
Another profitable option is to start your own record company. After all, recording and distributing your own albums allows you to keep a larger percentage of the profits from every sale. This will also teach you to become a smart business person.
Tips For How to Make Money as a Songwriter
If you’re curious about how to make money as a songwriter, this article can help. The key is to focus on your craft and become the most skilled musician and songwriter possible. After that, the sky’s the limit.
Keep scrolling to see more tips and advice about the music industry.