Today Music BC put on a kick ass event bringing together 3 expert panelists who shared 3 unique ways to make money in the music industry.
Each panelist had a different view of success, but in the end they all agreed you have to have good content to go anywhere. Here are their nuggets of wisdom all wrapped up for you with a ribbon on top.
1- Benji Rogers – Pledge Music
Benji Rogers is the founder and CEO of Pledge Music; an online crowd funding platform that is geared towards funding for music and music alone.
Benji is a SUPERFAN; and he looks at music in a very unique way. He loves true artists and although he is a powerhouse in the industry; he values organic content over mass media marketing. Benji argues that superfans are better than mass media fans because they represent the 80/20 rule of artist income.
Benji wants artists to harness the power or their content; and LET their fans give them money or mailing addresses in exchange for the content they provide. They can accumulate these super fans by sharing their artistic journey with them, and making them a part of it. He shared that each part of the album making process was an opportunity to engage fans, and gain traction. Writing, Recording, a curation of interesting artistic things in your life. That’s what they want. Unique Organic authentic content that a super fan will love.
“The Creation is the Value, Not the Product”
HOW DO YOU MAKE MONEY THIS WAY?
You have to allow your fans to pay you; consider doing a Pledge campaign that gives away something of value like a vinyl; do presales of your album or use NoiseTrade to share your music; while gaining e-mail addresses or data in return.
Allison Shaw – Manic Monkee MGMT
Allison is a marketing guru, creating strategies and campaigns for brands, bands, and co-olaborations between the two.
Today she shared some inspiring ideas and awesome resources to create a campaign that could skyrocket your career.
Allison shared with us that the first step is to find brand that aligns with you – and find out what you are going to send to them to make them consider a partnership. She recently did a co-olaboration with Ford where a band she managed sent them a video of them playing music in a Ford. They are now touring around the country, in a ford, playing music and education people on the history of music all the same.
Alison informed us that a lot of companies offer sponsorship for things like tours, gear, food and more and it can be a great way to reach new markets.
So go for it! Connect with that random company you feel fits your vibe; you may be pleasantly surprised.
HOW TO YOU MAKE MONEY THIS WAY:
Royalties, new fan growth (giving you more opportunities) or a completely funded tour or products.
Josh- Carr Hilton – The District EDM
Josh’s knowledge of how to work the internet to connect to your audience and turn a profit seriously blew my mind, to be honest I couldn’t keep up with all his technical and brilliant strategies, but here are some of the things I took away.
Josh’s company curates across platform playists in a certain genre; building a responsive audience that trusts and returns to them for amazing content. This model get’s artists discovered and paid, and it gets Josh’s company recognition in return. It’s a perfect loop, making them a giant of the internet, or an “influencer” in industry talk.
Now as much as we all wish we could send Josh our Demo’s and have him play them it doesn’t quite work that way, they get thousands of requests per day; however here is how you can DIY this process to get started. ( or just try anyway! )
First – your music has to kick ass.
Second – you should Monetize it, making sure you have your setting created correctly on youtube so you are getting links and found in the algorithms.
Third – Ask around the net for “influencers” who can help get you started, music blogs, curation pages, bloggers if they will feature your song, or remix it, this is a great place to start and slowly grow. Thanks Josh!
HOW DO YOU MAKE MONEY THAT WAY?
You make money from youtube views, and once you gain a following you can make killer dough when playing shows, selling albums, anything, as long as the following grows.
TALK THE TALK
Here are some fancy industry words I learned today that the panelists used frequently, be in the know with the LIN GO
- Monotization -convert into or express in the form of currency, basically make money from.
- Exclusives – Offers that you present on your crowd funding page when raising money
- Influencers – People on the internet ( or in real life) who have a large following, and who’s voices are heard
- Platform – A program or app where you can create and share your content
- Vertical – In crowd funding; vertical means the same genre or trade ei: musicians, authors, inventions are all verticals
- Curate – to assemble digital content that you then share with followers or viewers