As a music composer, I've learned that relying solely on one source of income is not a sustainable long-term strategy. In today's music industry, there are a variety of income streams available for artists to explore, from live performances and streaming royalties to licensing opportunities and more. By diversifying my income, I can reduce my reliance on any one source of revenue and ensure that I have a more stable and secure financial future.
Here are the different ways I make income as a music composer and pianist:
Licensing my Music:
One of the ways that I make money is through licensing my music. Licensing is the process of granting permission to use your music in exchange for payment, and it can be a valuable source of income for composers.
There are a variety of ways you can license your music:
Sync Licensing: This involves licensing your music to be used in a visual media context, such as in movies, television shows, commercials, video games, and other forms of media. Sync licensing can provide significant exposure for your music and generate substantial revenue through upfront fees and ongoing royalties.
Performance Licensing: If your music is played publicly, such as on the radio or in a concert venue, you may be entitled to royalties from performance rights organizations (PROs) such as ASCAP, BMI, and SESAC. These organizations collect and distribute royalties on behalf of their members to ensure that songwriters and composers are fairly compensated for the use of their music.
Mechanical Licensing: If your music is reproduced and distributed, such as in CDs or digital downloads, you may be entitled to mechanical royalties. Mechanical licensing allows you to earn revenue every time your music is sold or streamed.
Direct Licensing: Musicians can also license their music directly to businesses, such as retail stores, restaurants, and cafes, for use in-store or as background music. Direct licensing allows you to negotiate the terms of the agreement directly with the business owner and can be a lucrative source of income.
Solo Piano Performances:
Recently, I have started to make income through solo piano performances. Thanks to my booking agent, I get to play at concerts on a regular basis, particularly in the city of Barcelona where I live.
DSP Platforms:
Another way is through DSP platforms such as Spotify, Apple Music, and Amazon Music. These platforms allow me to distribute my music to a global audience and earn revenue from streams and downloads. While the payment per stream or download on DSP platforms may not be substantial, it's important to consider the long-term potential for earnings. The cumulative revenue from numerous streams and downloads can add up over time, especially if your music gains popularity and attracts a dedicated fan base.
YouTube Content ID:
The YouTube Content ID system has been a game-changer for me as a musician. With my music's cinematic feel, it has become a popular choice for creators in their YouTube videos. This has opened up a significant source of income through the Content ID system, allowing me to earn well from these uses.
Producing and Selling Loop Libraries:
Creating loop libraries for music producers has been the backbone of my music career for the past 13 years, providing a reliable and consistent source of income that has allowed me to pursue my passion full-time.
One of the most rewarding aspects of creating loop libraries is seeing how my work can inspire and enable other music producers to bring their ideas to life. Whether it's a young producer just starting out or a seasoned pro looking for new inspiration, knowing that my loops are contributing to the creative output of others is incredibly fulfilling.
In addition to generating income, creating loop libraries has also allowed me to build a strong network of contacts and collaborators in the music production industry. I've had the opportunity to work with some amazing producers and musicians over the years, and I've learned a lot from them about the art and science of music production.
Final Words:
As a musician, diversifying your sources of income is crucial for building a sustainable and successful career. Relying solely on one source of income, such as live performances or music sales, can leave you vulnerable to fluctuations in the market or unexpected disruptions, such as the COVID-19 pandemic.
By diversifying your sources of income, you can create multiple streams of revenue that can help you weather any storm and continue to pursue your passion for music.
Diversification also allows you to explore new creative opportunities and expand your skill set as a musician. For example, branching out into film scoring or producing music for video games can not only generate income but also lead to exciting new projects and collaborations.
MIDI Packs for Music Producers:
Apart from my passion for composing music, I'm also a sample pack producer. Over the years, I've had the pleasure of creating hundreds of sample packs for composers and producers through my own soundware company, Equinox Sounds.
I'm excited to share with you my latest creation: the Full MIDI Tracks Series. These packs feature full compositions in MIDI format that you can use for your personal and commercial music productions, as well as for multimedia projects such as YouTube videos, film soundtracks, video productions, radio/TV programs or commercials, computer games, and library music. Best of all, every MIDI file is 100% Royalty-Free.
As a producer myself, I know how important it is to have access to high-quality sample packs and MIDI files that inspire and help elevate your music production. That's why I take great care in creating each and every MIDI file to ensure it meets the highest standards.
So, if you're looking for fresh inspiration for your music productions, check out my Full MIDI Tracks Series here