Looking for Ways to Fund Your Music Career? Here’s How You Can Do It!
If you had
Or one opportunity
To seize everything you ever wanted
In one moment
Would you capture it
Or just let it slip?”
When Eminem sang these lyrics, it surely made struggling musicians around the world sit a bit straighter, grasp their guitars a bit tighter and start penning their music down with renewed vigour to put it out in the world.
But, even with dreams to have a career in music and the talent to back it up, most musicians struggle to gather the funds required to convert their passion into a steady paying job.
The music industry is, perhaps, one of the most difficult ones to break into without a solid plan to fund the exorbitant costs. From production to recording, touring to paying for the equipment, everything can land you a hefty bill, which you cannot pay for unless you have a strategy in place.
Well, there’s good news for you! The internet has opened up several avenues that you can use to raise funds and support your music career. These options, coupled with funding schemes, can give you a head start into the music industry.
After that, it’s just ‘Rock N Roll Baby’!
Apply for music funding schemes and grants
Among the most convenient ways to get a start in the music industry is to apply for a music grant. But, on the flip side, it is also among the most difficult ways.
There are a plethora of grants and programmes offered by various institutions that can help musicians to gain a footing in the music industry. You may apply for anyone of them depending on the location you live in.
Funding schemes like Help Musicians, PRS Foundation in the UK and National Endowment for Arts in the US are great options to start with. However, before applying, look through the list below to increase your chances to achieve success-
- Do not overcomplicate the application. Make sure you do not overemphasise in your quest to impress.
- Make sure you put down your long term plans while applying.
After writing your application, review it and hit the “send” button!
Get set for crowdfunding
Did you know that musician Rob Harris used crowdfunding to fund his entire album in five days?
Well, even though crowdfunding might sound easy on paper, it can be tricky to get right. However, in recent years, platforms like Kickstarter, Indiegogo and Patreon have made it much easier for musicians to get set a crowdfunding campaign going.
But before starting on your campaign, read through the following tips to make sure it succeeds –
- Set realistic funding options.
- Put out a great campaign video.
- Let your fans know what they are funding; define clear goals for your campaign.
Meanwhile, start with smaller gigs
Having big dreams is great. But to realise them, you have to set smaller, achievable goals.
Sign up for small gigs. Play at bars and small concerts, clubs and school functions. The income from these gigs pooled together can help you to gather enough funds to move a step closer to a career in the music industry.
But remember –
- Do not go for the pay to play gigs. You are playing to earn; and the problem with pay to play gigs is that you might end up spending more than you make.
- Sell your merchandise at the gigs. You know your fans will love them!
- Offer incentives and discounts on the ticket prices to make them sell out faster.
Finally, stream your music online
Release your music on streaming platforms like Spotify, iTunes, Apple Music, Deezer, etc. and get every single penny you can from them.
There are websites where you can find how much your streaming royalties are worth. So look up the value and get streaming!
These are a few options that can surely help you out to make a breakthrough in the music industry.
So work hard, hustle, and you will surely succeed!