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Making Money & Music Online
Secret by Ryan Inglis - Out Now at iTunes or Amazon
Make Money From Music
It makes no difference whether you're a music lover or a musician, the internet provides a valuable array of resources in not just providing promotion and exposure for music on a global basis, but also an opportunity to generate extra income from music no matter who you are. For music fans the way that music is consumed evolving digitally and fans are being given the choice of what they want to listen to before it gets released - they effectively choose who releases it. For artists, it's the listeners who decide what they want to listen to and who gets funding to record their album often via preorders or some other kind of alternative investment.
Here I have detailed some interesting music industry websites that offer potential opportunities for both music fans and musicians alike. Of course, with a bit of ambition and dedication it's also possible to turn your own ideas into a reality with the use of the internet.
Slicethepie - Slicethepie used to have the rather appropriate slogan 'Help yourself to a piece of the music industry' until the trading site of their website was taken down and they offer some very cool opportunities to both music fans and musicians. For fans, a monetary reward is offered in return for rating and reviewing songs in the scout room whereby payment levels depend upon the star rating (skill) of the reviewer (scout). The artists who rate the highest go on to feature in a showcase where they raise money from fans. Once they've reached their target the artist/band uses the funds to record their album/EP and gets access to some very cool promotional rewards and fans who helped to fund them receive a signed physical copy of their album plus extra rewards for larger investors. Two notable artists on Slicethepie, Ryan Inglis and Azrock & Pogo are still offering income-share to their investors despite trading being taken down.
Sellaband - Sellaband is very similar in concept to Slicethepie except that they have been around longer and there is no analytical filter, the music does not have to go through a rating process. Any unsigned artist can sign up and raise funds as long as they can get fans to invest in them by buying parts (similar to shares). Music fans are usually offered a percentage of album sales revenue and/or publishing revenue depending on how much they invest and also get a limited edition physical copy of the album once complete. The more parts a 'believer' buys the higher the percentage profit they earn from the album (in most cases) making Sellaband a true music industry investment platform. At one time believers were given their own Sellaband store where they could sell albums they had invested in, though this feature has been removed.
Music X-Ray - A fairly recent startup, Music X-Ray allows unisgned artists to create focus groups and have their music evaluated. Music fans can get paid to take part in focus groups and earn badges and higher rewards for their level of activity. Music industry professionals are also able to post their requirements which artists can then apply for. Although anyone can sign up as a music industry professional the legitimates are easy to cipher out and there are a wide range of opportunities available from soundtrack to songwriting to lyricist and more. Music fans can expect to earn up to $0.47 per track after they've proven themselves.
Reverb Nation - For music fans Reverb Nation offers a great way of finding the best local talent, including unsined artists, and for each geographical area, artist and genre they offer chart positions, blogs and gig listings. Reverb Nation has a Fairshare royalty scheme for unsigned artists who can earn money by having their tracks streamed over the internet. Reverb Nation simply pay you depending on how many plays your tracks receive and their payment rates are fairly good in comparison to most other paying websites (last time I checked 1,000 plays would earn you approximately $0.60). Reverb Nation also offer a wide range of promotional opportunities, services and tools and artists are given one huge control panel where they can do just about everythying they need including procuding press kits.