Ways to make money it in the music industry

The phrase "making it" in the music industry often feels like a loaded question—either you’ve succeeded, or you’ve failed. This binary mindset can create unnecessary stress, especially today when success looks different than it used to.

With streaming, music has been devalued in some ways. Platforms pay fractions of a penny per play, and the once-dreamed-of record deal isn’t the ultimate goal for many artists anymore. But there’s a flip side: the internet has opened up countless opportunities for musicians to define success on their own terms.

Making a living from music today doesn’t have to mean playing in front of massive crowds. It could look like teaching, producing, creating content, or even selling sample packs. The key is aligning your passion with your skills.

"Making it" now is about finding your own path. For many, it’s about piecing together different income streams based on what you’re good at and what excites you. The idea is that there’s no single way to succeed—each artist’s journey can be unique.

Streaming

Streaming is one of the most popular ways to earn money from music right now, with platforms like Spotify, Apple Music, and others paying for streams. While the payment rates are a fraction of a penny per stream, earning a living from streaming is possible with the right strategy. To make it work, you need to build a dedicated fanbase, get playlist placements, and promote your music consistently. This approach is all about getting big numbers—so with the right strategy, streaming can become a reliable source of income for many artists.

Playing Live and Touring

Playing live and touring is one those tried-and-true ways to earn a living as a musician. Whether it's performing at local shows, going on tour, or locking in regular gigs at venues, bars, or events like weddings, live performances are not only a great way to get paid, but also to build a strong fanbase

Merch and Physical Music

Live shows also provide a great opportunity to sell merch. Thankfully, people still buy physical items—cassettes, CDs, vinyl (which has made a huge comeback recently), as well as T-shirts, hats, pins, and even exclusive or collectible items. However, it’s important to weigh the pros and cons before investing in merch. If the demand isn’t there, you could end up with boxes of T-shirts, CDs, or vinyl sitting in your basement for years.

Licensing & Publishing

Licensing, publishing, and sync deals offer another way to earn money by granting rights to or creating original music for media like films, TV shows, commercials, video games, podcasts, and music libraries.

The payment structure can vary, but royalties are typically collected through Performance Rights Organizations (PROs) like ASCAP, BMI, or SESAC, with payments coming quarterly. While these royalties can be significant, they can also be disappointingly low—sometimes just a few pennies.

Sync deals, which provide upfront payment for music usage, can be more lucrative and are often in addition to royalties, depending on how the deal is structured.

In addition to generating income, licensing can boost exposure. Many successful bands, such as The Lumineers, The Black Keys, MGMT, and Foster the People, gained career momentum through key placements.

Fan Support

Platforms like Patreon, Kickstarter, or Substack let fans offer ongoing or one-time support in exchange for perks like exclusive content, early access to music, or personalized updates. This model helps build a deeper connection between you and your audience while providing a steady income stream.

Additionally, it’s a great way to gauge interest and gain insights into what resonates most with your fans, helping you tailor your approach to meet their preferences.

Teaching

The old standby, teaching, allows musicians to share skills and knowledge with others while earning a reliable income. This can include offering private lessons, group workshops, or online courses. It provides financial stability and can also help sharpen skills and knowledge. Teaching is also rewarding and a great way to connect with aspiring artists and build community.

Sponsorships and Partnerships

Sponsorships and partnerships offer opportunities to collaborate with companies for mutual benefit, often including free gear, financial compensation, and promotional support.

Companies may sponsor your videos, tours, or social campaigns in exchange for visibility with your audience. This can be a great source of income and a way to boost your profile, increasing your reach and credibility.

Socials and Content Creation

This one probably doesn’t need too much explaining. We all know that influencers can make lots of money. Whether it’s reviewing music-related products, creating tutorials, or sharing industry advice, social media and content creation allow you to connect with your audience. These platforms offer opportunities to generate income through ad revenue, sponsorships, and affiliate marketing.

Grants

Grants are a valuable yet often overlooked source of income for musicians.

Arts organizations, foundations, and government programs offer financial support for projects like recording, touring, community outreach, and even healthcare. The best part is that grants are essentially free money, though the application process can be time-consuming and require follow-up. 

A simple search for “grants for musicians” can help you discover available opportunities.

Studio Work

Studio work provides a lot of flexibility and creative opportunities.

As an engineer, you might take on recording, mixing, or editing projects, while session work—especially remote session work—has become increasingly popular. This includes playing or singing on other artists’ tracks, mixing or mastering their songs, and even ghostwriting or co-writing music. These opportunities help pay the bills, keep your skills sharp, and fuel your creativity.

Platforms like SoundBetter are great for offering your services and connecting with clients globally. Some of the best engineers are already using it to find work.

Samples, Software, and Beyond

Selling samples, creating software apps, or developing plugins are other great opportunities for income.

Many artists sell sample packs or loops from their recent releases, or create original samples, loops, and sound effects to license out on platforms like Splice. Blankforms is a good example of this approach.

If coding is your thing, you can create virtual instruments, effects plugins, or production software. Just like the founders of Ableton created Live for themselves, you could develop tools that serve your needs and others'. Check out artists like Aqueel Aadam’s plugins or Micah Frank’s Puremagnetik label for inspiration.

Or, if you have engineering skills, you could follow in Kurt Ballou's footsteps and create your own line of pedals.

Conclusion

With all these ways to earn money as a musician, making a living becomes a lot more flexible. It’s less about fitting into a single definition of success and more about embracing the opportunities that work for you.

The music industry today can be tougher than ever, especially when it comes to making money from just selling music. But at the same time, it’s filled with more paths than ever—paths that didn’t even exist a decade ago.

Whether you're on stage, in a studio, teaching, building a following online, or creating something entirely new, the key is finding what fits your strengths, interests, and lifestyle. There’s no one-size-fits-all answer—and that’s a good thing. Your journey is yours to define, and the beauty of it is that you get to decide what success looks like for you.

“Making it” isn’t just about a big break or a big paycheck—it’s about carving out a sustainable, fulfilling career in music. And the best part? There are more ways than ever to do that.