CD Sales: If you’re going to be playing live shows, having CDs on hand is still a good idea. They make great takeaway souvenirs that can easily be signed by band members.
Vinyl Sales: Vinyl sales surged 30% in 2013. Again, if you’ll be playing live shows, printing a small batch to have at your merch table can help generate extra income.
Digital Sales: You should be selling digital music through your own websiteto make the most money, but also through online retailers. Keep in mind for your budget that online retailers take a percentage of sales (ex. iTunes takes 30%, Bandcamp takes 15%), and some digital distributors that get your music into places like iTunes and Amazon will take a cut on top of that.
Streaming: Although per-stream payouts from streaming services can be rather small, they can add up over time, and these services can also help new fans discover your music.
Publishing Royalties: You should be signed up to a performing rights organization so you can collect royalties on your music, including public performance royalties (radio, TV, live venues), mechanical royalties (sales through retailers, streaming, etc.), and sync royalties (commercials, film, TV).
Digital Royalties: Whenever your music is played on services like SiriusXM radio, Pandora and webcasters, they must pay royalties. You should sign up for a free SoundExchange account to make sure you’re getting those royalties.
Licensing: If you get your song placed in a film, commercial, or TV show, chances are they’re going to pay you a licensing fee. These fees depend on the budget for the project, and how badly they want your song.
YouTube: On YouTube, whenever your music is used in videos that are running ads, YouTube pays a portion of that advertising money to the rights holders of the song. Audiam is one company that can help you collect this money.
Check out the link below today's video for more great marketing ideas!
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