In today's music industry streaming and licensing music has been on the raise. Digital downloads, cd sales has been on the decline. So where does that leaves the producers?. Back then producers ha to rely on record sales and advances to make money in the music industry. Outside of publishing it really wasn't that many outlets for producers to make money. 2018 there many ways for producers to make money out here. So here are our Top 5 income streams producers:
1. LICENSE YOUR BEATS
I know a lot of producers especially old school producers have a problem with leasing out their beats for a low price. But licensing beats has to turn into a whole new market over the past 10 years. This is one of the main income streams that producers can make money and earn a living off their music. You can lease out beats for $25-$30 bucks to artists whose looking for beats for a low price. Guess what you the producer still own the rights to the beats. Imagine if you lease a beat for $25 bucks and it has been downloaded 10x you made $250 bucks off that one beat. Plus your can still collect the publishing income as well.
2. INSTRUMENTAL ALBUMS & BEAT TAPES
This is one avenue that a lot of producers bypass often. There's an audience out there who loves to listen to instrumentals with out any singing or rapping on it. There is a lane for it. There are people who support this part of the music industry. There's money to be made with your beats. Also you can release your instrumental album with CD BABY, TUNECORE put it on spotify, apple music, tidal and pandora. That's an whole another income stream for producers. Then it's a good chance your album might end up on a spotfiy playlist. Now we talking $$$.
If you don't have any beats on youtube then you need to stop reading and go do this now. Youtube is the number one search engine in the world. When people go and look up music they go to youtube first. When artists need beats they go on youtube first before they go any where else. Even tho youtube criteria has changed but you still can make money with the ads on your videos. Plus a lot of well-known artists go to youtube looking for beats to buy. Another income stream.
4. WRITE SONGS FOR OTHER ARTISTS
This is another lane that's being over looked. Back then producers also wrote the songs as well as produce the record. Now not too many producers write songs today. I heard L.A. Reid say he doesn't buy beats he buy songs. Remember he signed Rihanna and Lady Gaga. They need complete songs for these type of artists. Indie artists need complete songs too. What better way to go into the studio with a well-known artist setting yourself apart not only with dope beats but lyrics that comes with it.
5. CREATE AND PRODUCE COMPILATION ALBUMS
It's a lot of artists in your city. It might be more dope artists in your city then there are dope producers. Get with as many as artists in your city as much as you can and put a project together and put it out under your company. This is a great way not only to get your name out but also increase your income. On top of that those same artists will come to you looking for beats to buy. The more artists you know the better you chances of increasing your income. Don't over look streaming and licensing your beats.
There you have it. TOP 5 INCOME STREAMS FOR PRODUCERS.