5 Ways to Make Money with Music (Music as a Profession 2024)

Music is an art form that can become a passionate and rewarding profession for those with talent and dedication. In this article from GuitarRec – Online Recording Studio, we will explore five different areas where you can apply your musical knowledge to compose or produce music professionally and earn money from it.

From teaching and live performances to studio recording, composition, and music production, we will delve into each area in detail and provide valuable tips and advice for those looking to pursue a career in the exciting world of music.

The 5 Main Ways to Earn Money with Music

1. Teaching

Continuous Learning and Opportunities

Teaching is one of the main areas where musicians and producers can apply their knowledge and experience to earn money. You can teach private students, work in music schools, offer online lessons via platforms like Skype, or create courses, music production tutorials, or educational videos on YouTube.

In addition to sharing knowledge, teaching music also provides opportunities to keep learning, reinforce new skills, complete phases in mastering instruments or production software, and share experiences with students. Moreover, working as a teacher at a music school can provide greater financial stability and security compared to other facets of a musician’s career.

Tips for Pursuing Music Teaching Professionally

• Maintain a continuous learning attitude to improve your teaching skills.
• Use online resources and educational platforms to expand your reach and attract more students.
• Consider diversifying your skills by teaching different musical styles or instruments.
• Set competitive and fair rates, considering your experience and local market conditions.
• Make sure to reserve some of your time and energy to keep creating music, not just teaching it.

2. Live Performance

Live performance is another crucial area for musicians. Whether performing with local bands, cover bands, orchestras, touring with renowned artists, working with management agencies or record labels, booking concerts, or playing in venues, live performance allows musicians to share their art, connect with audiences, and experience the stage’s unique moments. Becoming a professional live musician is one of the main ways to earn money with music. However, you’ll need to practice consistently to master multiple repertoires and adapt to being away from home frequently. It’s a lifestyle that includes adjusting to any schedule, vehicle seat, or dressing room.

Tips for Live Performance

• Build a strong network of contacts in the music industry to access opportunities for gigs and collaborations.
• Develop management and organizational skills to ensure successful and smooth performances.
• If representing your own artistic project, look for opportunities to expand your audience, collaborate with other artists, and utilize digital platforms for promotion.
• Be very diligent in managing your calendar and reserved dates. There’s nothing worse than someone backing out at the last minute for rehearsals or performances.
• Invest in professional equipment. Your sound is as important as your musical ability.

3. Studio Recording

Studio recording, or being a session musician, is a vital area for those interested in music production, performing, and recording their instrument for albums and projects. Session musicians collaborate with artists, producers, record labels, and professional studios or work from their own home studio setup. To become a professional musician recording in the studio, you need to develop technical skills and musical direction across various genres. Additionally, basic knowledge of recording software, hardware, and mixing techniques is essential.

Tips for Studio Recording

• Familiarize yourself with the software and hardware used in the music industry.
• Experiment with different recording techniques to achieve the best sound for each instrument.
• Expand your knowledge in music production and mixing to deliver high-quality final products.
• Invest in equipment such as software, instruments, audio interfaces, and microphones for music recording, and keep your gear in good working order.

4. Professional Music Composition

Music composition is an exciting field that offers numerous opportunities for creative musicians. You can compose music for audiovisual projects, commercials, movies, video games, or work in genres like pop, rock, and electronic music. Musicians can also specialize in songwriting for artists or creating music for music libraries and publishers. Understanding legal aspects and managing copyright is essential in this field.

The two main ways to earn money through music composition are by earning copyright royalties from composing for commercials or other artists, or by monetizing your own project through live performances and collecting royalties from streaming platforms via music distributors.

Tips for Earning Money with Music Composition

• Study various styles and genres to expand your creative palette.
• Research the needs of the audiovisual and advertising industries to tailor your music to their requirements.
• Learn about legal aspects such as copyright management, royalties, and publishing to protect your compositions and receive fair compensation.
• Maintain an open attitude and experiment with different composition techniques to find your unique style.
• Collaborate with other composers to reach a broader audience and achieve diverse results.

5. Music Production as a Profession

Music production combines the artistic and technical aspects of music. Professional music producers work in recording studios, applying recording techniques, knowledge of instruments, creating musical arrangements, beats, and mixing to ensure the final sound is modern and of high quality. Producers must also stay up-to-date with musical styles, trends, and understand the psychology of artists to achieve effective collaboration.

Currently, one of the main ways to earn money with music as a producer is by offering services to bands and artists who need to hire a music producer. In genres like hip-hop, trap, or urban music, you can produce beats and sell them exclusively or license them non-exclusively for other artists to use. Platforms for selling beats have become a popular choice for this purpose.

Tips for Professional Music Production

• Develop technical skills in software and hardware for music production. Learn to collaborate effectively with artists to adapt to their needs and preferences.
• Stay updated on musical styles and trends to offer fresh, relevant productions.
• If your focus is more on technical and sound aspects, don’t forget to learn some music theory, including scales and chord formation.
• Create your own style for production, instrumentation, and mixing—it will be your unique signature. However, mastering technical aspects like recording and mixing is crucial.
• Build a strong relationship with artists by being receptive to their vision and goals. Always focus on enhancing the song and supporting the artist’s direction.

Earning Money with Music (General Aspects and Tips for a Professional Career)

In addition to the main areas mentioned, there are some general and complementary aspects that musicians should consider for a successful professional career.

Music Promotion

Promoting your music on Spotify and social media is essential to stand out in the music industry. No matter what you do, a musician must work on their online presence, attend concerts, collaborate with other musicians or artists, and create a marketing strategy to promote their projects and reach a broader audience.

Choosing Your Path

It’s important to set medium- and long-term goals, know when to say no to projects that don’t align with your vision, and establish prices that reflect your experience and results. Don’t just take the easy path. Follow your instincts!

Legal Knowledge in Professional Music

Having basic knowledge about legal aspects is crucial, including freelancing, drafting contracts, protecting rights, managing copyrights, registering songs, and understanding the working conditions in the music sector you’re pursuing. Learn how to register a song and protect your work.

Setting Prices as a Musician or Producer

Determining how much to charge for your services can be challenging. Consider your experience, network, and the reputation you want to build. While working for free can sometimes be beneficial for gaining experience and exposure, it’s important to know when to say no and value your work. Research the standard prices for the services you’re offering.

Final Tips for Pursuing a Professional Career in Music

As you embark on a successful music career, there are some key tips to keep in mind for a professional music career. Success should always be defined by your own goals and objectives!

• Maintain a positive and professional attitude towards your work and clients (even when they make you redo half the work you’ve already completed… 🙂 ).
• Work with consistency and discipline to improve your skills and achieve your goals. This might be one of the keys to achieving anything you set your mind to.
• Trust in your talent and the quality of your work, but remain open to receiving and utilizing constructive criticism. Everything will come in its own time. Nobody said it would be easy!
• Get used to instability. If you decide to pursue music professionally and earn money through an artistic or freelance path, there will always be ups and downs. Don’t give too much importance to the high moments or the low ones. Always keep moving forward!

Potential Downsides

In the music world, certain aspects can negatively impact your career:

• Chasing fame or recognition at all costs or too quickly can distract you from your artistic and professional development. Most people in the profession dislike this type of profile. Work hard and be patient.
• Obsessing over money can lead you to make decisions that don’t align with your musical vision or long-term goals.
• Not accepting criticism can hinder your growth as a musician. Trying to appear perfect can take away from the authenticity and honesty of your art. Focus on improving your technique, writing better lyrics, performing, and recording as professionally as possible.

Music as a Profession: Final Thoughts

In conclusion, music offers a wide range of opportunities for those who want to turn it into their profession. Whether through teaching, live performance, studio recording, composition, beat-making, or music production, it is possible to build a successful career in the music field.

It’s important to note that you don’t have to be a professional musician to enjoy music or even earn money from it. However, if you choose to pursue it professionally, it’s essential to consider the general aspects, complementary factors, and practical advice to navigate this journey consciously and purposefully. Enjoy the process, and let your passion for music and your instincts guide you!

Tutorial created by Vicen Martínez (music producer, guitarist, and founder of GuitarRec.com). Follow on Instagram | LinkedIn.