Creative Ways Musicians are Monetizing Their Talent During Covid-19
There is no doubt that the music industry has been one of the hardest hit industries by the Covid-19 pandemic. Live music makes up over 50% of total revenues in the music industry and up to 95% of an individual artist’s revenues.
While live music is opening back up in some areas, it still isn’t completely safe in most places especially some of the biggest cities for live music like Los Angeles, New York City, and Nashville. Artists have had to get creative in ways that they can still share their music and interact with fans.
While live streams have checked off the box for fan interaction and showcasing the artist’s music (to an extent), it hasn’t been able to make up for the revenue lost from live performances. Artists have had to get a little more creative than just live streaming to earn a live-able wage through their music. Here are ways artists have been and can monetize their talent during Covid-19.
Meet-and-greets have long been a part of the live show experience, giving fans the option to pay extra to meet their favorite artists and snap a picture with them. Musicians have now gone virtual with their meet-and-greets on apps like Cameo and Zoom, charging anywhere from $30 to thousands of dollars.
Zoom has exploded in use since the start of the pandemic, allowing schools to go on, companies to continue meetings, and musicians a place to monetize their talent. Apart from meet-and-greets and private Zoom performances, musicians are giving music lessons through this platform. Artists are able to advertise their lessons through their personal social media as well as apps like Fiverr- a marketplace for freelance services.
Speaking of Fiverr, there is an abundance of ways musicians can monetize their talent on this marketplace other than music lessons. From production, mixing & mastering, and beat making to songwriting, jingles, and audio advertisements. There is room for any type of musician to monetize their talent on Fiverr.
Topeka is another freelance marketplace but is strictly “hang sessions”, which are private video calls, rather than paid jobs to do on your own time. Fans are able to book artists for meet-and-greets, conversations, music lessons, workshops, concerts, and more. These sessions are personal, between the artist, the fan who booked, and whoever the fan invites rather than a live broadcast to all fans.
With outdoor activities now deemed a lot safer than inside, farmers markets have now begun to re-open with communities attending more now than ever. Contact your local farmers market to ask permission to perform and put out a tip jar.
Depending on your location, restaurants have now been able to offer outdoor seating. While this doesn’t compare to ticket sales, you can make a chunk of money from the booking fee as well as tips.
While the Covid-19 pandemic may have shut the doors on the most interactive and well-paying aspect of a musicians career, it has opened doors to less demanding virtual opportunities that were never really considered or focused on before.
Hannah Gershowitz is a junior at Full Sail University studying Music Business. She is passionate about the music industry and personal growth. Her goal is to help artists reach new levels, and lead the new generation of music industry professionals. Hannah is skilled in blogging and content creation, and knowledgeable in artist management and repertoire, marketing, and music evaluation. She listens to all types of hip-hop, alternative and indie rock, and edm, especially house. Some of her favorite musicians are Danny Brown, Chris Lake, and Arctic Monkeys.