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FEM156 Multiple Income Streams for Musicians

income streams for musicians

As a self employed musician, it’s crucial to have different streams of income. In this podcast, you’ll learn why it’s smart to diversify.

It’s important to have multiple income streams for musicians to diversify their income streams and not depend on one particular source of cash flow. Therefor, by employing a combination of things such as performing live, live streaming and online sales not only increases revenue, but also allows a consistent flow of cash.

Having 5 to 6 income streams coming in can make for a comfortable living.

"19 Proven Sources of Income You Probably Haven't Considered for Your Music Career"

19 sources nail

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Income is seasonal: Especially With Live Venues

Because of the nature of the seasons and the calendar, there are many income streams from music that just aren’t available year-round.

  • Seasonal changes in local population
  • Performing more during specific holidays
  • Library performances for school-age children (summer)
  • Preschool and younger (all year)

Build Multiple Income Streams for Musicians Because Markets Change

Despite our resistance, the market often dictates where and how we as musicians can make money.

  • Downloads are going away, can’t rely on itunes
  • Live Streaming Music (Spotify, Amazon, Pandora)
  • Venues close
  • Performing online

Musicians Who Face Health Challenges & Life Situations

I can definitely relate to this. I have had my share of health struggles that have kept me out of the live performing game for a while. Also, I was out for maternity leave. Since we don’t have a company to provide these benefits, we have to be our own benefactors by building multiple streams of income to support us during these times when we can’t perform live.

  • Need time to care for yourself or others
  • Healing from injuries
  • Dealing with chronic illness
  • When flexibility is necessary

Increasing the diversity in income streams or increasing each income stream by a small amount can make a big difference in a bank account, especially if there are multiple flows coming in at once. This resource will help you build multiple streams of income for musicians.

"19 Proven Sources of Income You Probably Haven't Considered for Your Music Career"

19 sources nail

Download your Free PDF Income Guide NOW

Success! Now check your email to get your free resource guide.

There was an error submitting your subscription. Please try again.

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Resources

First, email your questions for Bree to answer on the show: Bree@FEMusician.com
Next, subscribe to the show on iTunes
Then, give us a review on iTunes
Show Editing by Jen Edds at 317 Sound Design
Music by Stella Ronson

ABOUT HOST BREE NOBLE

Bree Noble Female Entrepreneur MusicianBree Noble is an entrepreneur, musician and speaker. She founded Women of Substance Radio, an online radio station that promotes quality female artists in all genres, in 2007.  She launched the Women of Substance Music Podcast in November 2014, a 5 day per week show which promotes Independent female artists. Her podcast has hit #1 in New & Noteworthy for the Music, Arts and Society & Culture categories and #4 Audio Podcast on all of iTunes. She draws on her extensive experience running her own music business, both as a solo musician and as an Industry professional, to train and mentor other female musicians. Learn more about the station, the show and the artists atwww.wosradio.com. Connect with Bree on Twitter @BreeNoble or on Facebook or on Instagram @breenoblemusic

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