With today’s market being more digital than physical Artist and Producers have different ways to monetize their work . From streaming platforms to YouTube channels to Podcast , branding , touring and merch . There’s so many ways for Artist in Producers to rake in the dough .
Youtube is the new TV , packed with content from everyone and everything going on in the world . In today’s time Youtube is the primary source for all of your music videos . With music videos amassing billions of views worldwide . On Average the YouTube channel can receive $18 per 1,000 ad views. This equates to $3 – $5 per 1000 video views . Now with music videos getting over 1 million views you do the math . All you can say is you’re securing the bag lol .
Since the beginning of music the constant bread winner of any musical artist is their live show . Touring is the most important tool used in music for Artist and nowadays producers are also Dj’s that also tour and have spot dates and club appearances . With festivals at an all time high a lot of Artist and Producers are now seeing larger crowds and expanding their fanbase . Da Baby has recently said he’s getting $200,000 a show . Now that’s breaking the bank!
With the ever growing popularity of Artist and Producers in music (with the help of social media ) . You can now use that leverage and become a brand ambassador for anything from Chef Boyardee Ravioli with Lil Yachty to owning your own headphones like Beats by Dre . These opportunities become endless when you have a hot record and or records .
Apple After selling his gold-mine headphone company Beats by Dre in 2014 to Apple for $3.2 billion, rap mogul Dr. Dre‘s net worth spiked to an estimated $700 million. He’s the second-richest man in hip-hop, according to Forbes. So Artist and Producers are not just a business man , they’re a business maannn!!!!
• Podcast/ Radio
Hip hop Artist and Producers are not just making music to get to the cash nowadays you can find some of your favorite artist and producers with podcast and radio slots on your streaming platforms . The most notable ones are The Joe Budden Podcast and Drake’s OVO radio . The Joe Budden podcast started a very lucrative partnership with Spotify in 2018 and let’s just say the bag was heavy enough to make Joe retire from rap .
Now usually touring and merchandising goes hand and hand but since online shopping is the most popular marketplace you don’t have to go to a concert to get merch from your favorite artist . Merch has also expanded from the typical concert shirts , jackets , and hats to a full on clothing line . For example Nipsey Hussle not only had The Marathon series of mixtapes but he also has The Marathon Clothing which takes his items from a quick money grab to create promo for his music to a full on experience with 3D technology you can unlock with The Marathon App. These days merch is also a huge way to secure the bag .
Check out how Plyte.io is helping artists achieve these goals.