 How
to Earn Over $30,000 With Your
Music by Year's End.
Commentary by Kenny Love
- March
2005
Back to The
Academy
As an independent musician and/or recording
artist, if you did *NOT* earn $30,000 (or more) with your music alone
last year, let's jump right in and get you started with doing so this
year. Again, bear in mind that the main necessary ingredient is
"consistency" of every aspect, and on a weekly basis.
Remember! This is
a worst case scenario, in regard to what you should be able to easily earn
within each aspect, and you are very likely to earn much more.
The
"lead generator(s)" in each aspect below reflects the various resources that you
will use to obtain results in these areas.
So, here is the financial
mathematical
layout:
=====
Gig
Earnings
Practically any band should be able to market and promote
itself well enough to obtain, at least, one gig per week, whether the
band is based in a metropolitan or rural setting, and whether it performs on
a fulltime or part-time basis. So, in our worst case scenario, let's look
at getting one gig per week:
1 Gig X 1 Week @ $300 X 4 weeks = $1,200
per month
Lead Generators:
- Contacting venue managers and bookers
directly
- Signing on with an area booking agent
- Placing low-cost ads in
your area weekly newspapers
- Contacting area performance theaters
- Host
your own gig at an area hall or theater
- Contacting high schools for
performances
- Contacting college student activities offices for
performances
- Low-cost college newspaper ads for possible gigs
- Low-cost college radio ads for possible gigs
- Your website calendar gig
notices/tours
Note: Provide your media kit and business card to
prospective clients.
=====
Gig
CD Sales
As you
are already aware, most gig employers will allow you to sell your music
during performances. So, in our worst case scenario, let's look at
getting sales during gigs, with a minimum of 100 people at each gig, and
with 10% (10 sales) of the crowd who, after witnessing your mind-blowing
spectacular performance, suddenly realize that life is not worth living, and
they simply cannot go on unless they own a copy of your CD:
10 sales
X $10.00 (per CD) X 4 weeks = $400 per month
Our monthly sub-total is now
$1,600
Lead Generator:
- Your incredible stage performance that
left them
mesmerized.
- Your website for additional
sales
=====
Teaching
Right now, in your own area,
there are innumerable people who would like to learn to play your
instrument, or be able to sing as half as well as you. So, why not teach
them how to do so while earning a bit of income doing it as well? So,
in our worst case scenario, let's say you teach only one day each week, with
only two students, at one hour each, while charging $10 per student, per
lesson:
1 day X 2 students X $10.00 (per student) X 4 weeks = $80 per
month
Our monthly sub-total is now $1,680
Note: If you decide to
devote an entire day of the week to teaching, say 8 students/8 hours, your
income increases to $80 per day/$320 per month.
You can also consider
contacting area community colleges that will likely be receptive to your
classes within their "Continuing Education" program, which can even pay a
bit more money. And, if time allows, why not get the best of both
worlds, so to speak, by teaching both independently, as well as within the
college system?
Lead Generators:
- Placing low-cost ads in your
area weekly newspapers
- Contacting high schools to post notices/fliers
- Low-cost college newspaper ads
- Low-cost college radio ads
- News
releases to area radio and print papers
- Feature interviews on area radio
and in newspapers
- Your website with your class notices
Note: Provide
your credentials to student prospects in the forms of a resume and/or
portfolio.
=====
Online
Sales
Just a few noted
sites include:
CD Baby ( http://www.cdbaby.com )
The Orchard ( http://www.theorchard.com
)
Amazon.com ( http://www.amazon.com )
New Artist Direct ( http://www.newartistdirect.com )
With fairly decent
online promotion, at the least, you ought to be able to realize an average
of 3 sales per week from each of these sites. While all may not produce
those 3 sales individually each week, some of them are likely to produce
more than 3 sales, dependent upon your
promotional efforts, of which should
still average out to 3 sales each.
However and again, let's review a
worst case scenario:
4 sites X 3 sales each X $7.00 = $84 X 4 weeks =
$336
Our monthly sub-total is now $2,016
Lead Generators:
-
Peripheral online sales from gig audiences
- Low-cost ads in area weekly
newspapers
- Low-cost college newspaper ads
- Low-cost college radio
ads
- Internet marketing and promotion on music message
boards, music
forums, and within discussion list
signature files
- News releases to
area radio and print papers
- Feature interviews on area radio and
newspapers
- Your website
sales
=====
Weddings
Though weddings occur within
every month of the year, the biggest and most traditional month for weddings
is June. And, right now, in your own area, there are quite a few being
planned for this summer. Weddings are one of the most lucrative income
generators for musicians, because families generally are very liberal in
spending
on them, and go all out, so to speak, for this special day for
their daughters.
So, in our worst case scenario, let's say you can get,
at least, one wedding gig per month, at $1,000 per gig (more wedding gig
opportunities are likely during summer months especially):
$1,000 X 9
months = $9,000
Our monthly sub-total is now $3,016
Lead
Generators:
- Caterers & Catering Services
- Placing low-cost ads
in your area weekly newspapers
- Your website notices of your availability
for weddings
- Providing your business card to area upscale restaurants
that cater wedding receptions and banquets
- Your business card left with
flower shops
- Your business card left with jewelry stores
- Your business
card left with bridal shops
- Your business card left with tuxedo shops
- Your business card left with bridal services
Note: You should also
provide your business card to wedding attendants who inquire about your
services for upcoming functions that they may be hosting in the
future.
Wedding
CD Sales
You may also be able
to sell your CD at weddings, however, ASK FIRST when coordinating your
performance arrangements. Attendants usually interact with the band, as
it is a happy occasion.
If you are allowed to sell your recordings at
weddings, you should do so passively by having your CDs placed near the
performance area in a conspicuous position.
However, I would not
"hard sell" (repeatedly mention) the CD from the stage, unless of course, a
wedding coordinator decides to do so, or states that you may do
so.
So, in our worst case scenario, let's say, at least, 100 people
attend each wedding (more are likely to attend many weddings), with 10% of
them purchasing your CD:
10 sales X $10.00 (per CD) X 1 month =
$100
Our monthly sub-total is now $3,116
Lead Generator:
- Your performance
- Your website notice
=====
Retail
Store Consignment Sales
Since stores won't be laying out cash in advance
for your music, you should have very little problem consigning your
music to retailers.
A word of advice is for you to not consign more
than five copies per per store, per 30-day period, at any time. Limiting copies to stores will allow for sufficient time in your product
moving off retailer shelves.
Consider getting your product consigned
with, at least, five area retailers. However, if there are not enough music
stores in your area, consider consigning it with other retailers such
as; bookstores, flower shops, jewelry stores, and any other such retailer
that gets quite a bit of traffic and might be interested in carrying your
music.
You will, generally, be required to present retailers with
your own consignment form, and I have created one that you can freely
download and customize for your own use at:
http://www.MuBiz.com/CnsnmtFrm.html
Just be sure to
duplicate it so that both you and the retailer have copies.
So, in
our worst case scenario, let's look at your area retail
possibilities:
5 Stores X 5 copies X $8 (your take) = $200 per
month
Our monthly sub-total is now $3,316
Lead
Generators:
- Low-cost classified or display ads in area newspapers
- Low-cost radio ads
- Low-cost cable television ads
- News releases to all
forms of media
- Feature interviews at local television, radio stations
and print media
- Music reviews in your area print media
- Your
website listing area stores carrying your music
Note: Provide your media
kit and business card to retailers in order to further influence their
decision in consigning your
product.
=====
Production
Did you produce your own
CD? If you did, and if people are raving about how great it is, why not
consider producing other area bands as well for some extra
cash?
Between now and the end of this year, you should be able to
produce, at least, two acts for, at least, a $1,000 fee each.
Lead
Generators:
- Word of mouth and fellow musicians you know
- Placing
low-cost ads in your area weekly newspapers
- Low-cost college newspaper
ads
- Low-cost college radio ads
- Your website notice of your production
skills
- Fliers in music instrument stores
Note: Provide your media
kit and business card to contacts.
As our monthly sub-total is $3,316,
providing a grand sub-total of $29,844, when you add on your $2,000
production fees for both bands that you produce, your minimum grand
year-end total comes to $31,844.
As I stated at the beginning of this
article, each of these aspects contain 'bare bones' minimum figures in
respect to what your earning potential is within them.
=====
*
Special Note: In each of these areas, it is very likely that you will
experience repeat business, as well as word of mouth promotion, which will
further add to your annual income this year, thus, creating the potential
for doubling or even tripling your income.
-----
Kenny Love is president of http://www.MuBiz.com,
a radio promotion and media publicity firm that also
provides business and career services to musicians.
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