4 Tips for Turning a Music Band into a Profitable Business

Music Band - Negosentro

Jane Koval, Negosentro |  Whether you are in a music band or simply want to make business out of working with one, you have great opportunities. According to AWAL, indie performers today are a billion dollar industry. They also account for over 34% of total music sales. Yet 77% of all recorded music income goes to 1% of artists. This means that in order to make a music band profitable you have to go beyond its music. Treat it as a business that has more to offer than its records and you’ll get more money.

4 Ideas on How to Make a Music Band Profitable Today

  1. Look for jobs beyond shows

Performing in music clubs and progressing to show halls and stadiums is every artist’s dream. However, to make money right now you need to take up any jobs possible This included performing at various dining venues, holidays, corporate events, and even giving performances in schools and community centers.

Your goal here is to not only make some money from private events, like weddings. You also need to make your name popular, so take every opportunity you have. Consider performing for free at various charity events as well to have more people exposed to the band in the hopes of obtaining future engagements.

  1. Establish an online presence

The most important thing you should do in order to make a music band profitable today is to find reliable service to host the best websites for musicians. Then launch a website of your own that will have top-quality search engine optimization (SEO) as well as a blog.

The website must be connected to your social media accounts and will serve as your digital marketing ‘base’. You’ll need to post new content, such as podcasts, new tunes, and videos on it. From there, repost the content to social media.

Get involved in discussions on music forums as well as websites and social media groups popular among your fans. Remember, music is a business and fans are your customers. You need to appeal to them through respect and attention, the same way you want to be treated by any business.

Establishing an online presence for the band will not only help you generate fans. This will give your band credibility and help make an impression on various business owners that can offer you some gigs.

  1. Get an online store

Your band’s website must have an online store for its branded merchandise. Developing a signature logo will help make the band more memorable and merchandise like branded T-shirts and caps is a tradition of the industry.

Having an eCommerce store attached to your website will also help improve your Google ranking. This will make the band more visible online.

  1. Get involved in music-related businesses as a ‘side job’

To make a music band profitable today one has to use the members’ talents to the fullest. Getting involved in something more than performances will also help develop your network of contacts.

Possible positions to try include disc jockeying at various events, being a music tutor, jingle writing, theme songs creation, and sound effects production. Don’t forget about being a cover band as well because this can help you get into better gigs before you promote your original music.

If the members have some other talents and skills, like musical instrument repair or writing great lyrics, be sure to use them as well. This industry is so volatile, you can’t afford to miss any opportunity for monetizing musical talents.