How to Make 6 Figures As A Musician? (11 Best Ways in 2024)
So you want to make six figures as a musician? Good for you! Being a musician is a highly respectable and well-paid profession, and there's no reason why you can't earn a high income if you put your mind to it.
In this blog post, we'll look at some of the best ways to make more money as a musician - business ideas you can start to achieve such income. Keep reading to learn more!
1. Start a podcast ($97.9K/month)
Starting a podcast could be a lucrative way for you to supplement your income as a musician. By producing audio content that resonates with your audience, such as behind-the-scenes stories, music industry insights, or exclusive interviews, you could not only engage your current fan base but also attract new listeners.
Initially, you could start on a budget by investing in basic recording equipment and utilizing free or affordable hosting platforms to publish your episodes. As your podcast grows in popularity, avenues for monetization, such as sponsorships, advertisements, and listener donations, could emerge, potentially turning your podcast into a substantial revenue source. This entrepreneurial side venture could help you tap into the thriving podcast market, bringing you closer to achieving a six-figure income.
How much you can make: $400 — $1,020,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 60 days (?)
Time commitment per week: Min. 2 hours/week
A successful podcast production company that grew from one client making $15/hour to a team of 10 contractors producing over 30 shows per week with revenue of over $10k/mo, primarily through referrals and with a focus on providing high personal touch and being picky about working only with clients who are a good fit.
2. Digital products ($242K/month)
Creating and selling digital products could significantly supplement your income as a musician. Digital products, such as online courses, eBooks on music theory, or even a membership site offering exclusive lessons, are top-rated because they’re easy to create and share. The beauty of these products lies in their low overhead—there's no need to worry about physical inventory or storage, allowing you to sell directly from your website effortlessly.
Additionally, with digital products, your earning potential is scalable. Once a product is created, you could sell it indefinitely without substantial additional effort, turning your knowledge and skills into a passive income stream. This scalability combined with minimal initial investment makes digital products a strategic option for entrepreneurial musicians aiming to reach six-figure incomes.
How much you can make: $10,417 — $1,766,666/month
How much does it cost to start: $5,000 (?)
How long does it take to build: 60 days (?)
FilterGrade is an eCommerce platform offering digital assets such as photo filters and video templates; attracting over 450,000 monthly users and generating approximately 30k a month, the founders worked hard to build a valuable marketplace for creators while focusing on digital marketing, partnerships, and content creation.
3. Start a career coaching business ($48.5K/month)
Starting a career coaching business could be a fantastic way for a musician to supplement income and make extra money. As a career coach, you would provide personalized guidance, support, and strategy services to help clients navigate professional transitions and growth opportunities. By leveraging your speaking talents and human resources expertise, you could design custom sessions on resume building, interview prep, and workplace advancement goals tailored to each client’s aspirations.
Additionally, as a musician, you likely possess strong communication and motivational skills that are essential in a career coaching setting. With flexibility for in-person or virtual meetings, you could easily fit coaching sessions around your music career, thereby creating a reliable secondary income stream. Building a client base would empower you to facilitate professional breakthroughs for others while simultaneously working towards achieving six-figure earnings.
How much you can make: $1,000 — $235,000/month
How much does it cost to start: $1,500 (?)
How long does it take to build: 60 days (?)
Wall Street Oasis, the largest online community focused on careers in finance, has over 100 million visitors during its 14-year history and is currently receiving over 2 million visits per month, offering interview courses and mentorship services, in addition to building and investing in a thriving online community.
4. Start an ecommerce store ($287K/month)
Starting an eCommerce store could be a lucrative way to supplement your income as a musician, potentially helping you reach that six-figure milestone. By selling products like band merchandise, custom instruments, music lessons, or digital downloads of your music, you could tap into a global audience and increase your revenue streams. The lower overhead costs and increased flexibility of an online store make it an ideal venture, especially with the convenience of reaching consumers who prefer shopping from the comfort of their own homes.
With an eCommerce business, you could dramatically expand your reach beyond local gigs and physical sales, connecting directly with fans anywhere in the world. Setting up a website to showcase your inventory and handle transactions does require an upfront investment in payment processing and inventory management software, but the potential return on this investment is significant. Imagine selling a T-shirt or an album to a fan in another country without stepping out of your studio—these possibilities could reshape your financial future.
How much you can make: $350 — $13,500,000/month
How long does it take to build: 120 days (?)
Time commitment per week: Min. 5 hours/week
Southern Elegance Candle Company, founded by D'Shawn Russell, started as a side hustle making around $200 per weekend at a local Farmers Market, but now averages approximately $20,000 per month in sales across their retail site, wholesale site, and Faire.
5. Start a freelance writing business ($62.6K/month)
Starting a freelance writing business could be a lucrative way to supplement your income as a musician, offering the potential to hit six figures. With the flexibility to define your work schedule, you could work from home and squeeze writing projects around your gigs and rehearsals. Freelance writing offers diverse opportunities to write across various niches, so you could draw on your musical expertise to land gigs writing about music, tech, entertainment, or any other subjects you're passionate about.
To excel and earn good money in this field, you will need strong writing skills, the ability to meet deadlines, and a desire to stay updated with current writing tools and trends. Your self-starter attitude as a musician will serve you well, enabling you to take initiative and secure clients. With proper communication skills, you could successfully juggle freelance writing alongside your music career, turning a side hustle into a significant revenue stream.
How much you can make: $700 — $500,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 56 days (?)
How David Tile turned a freelance writing gig into an $80k/month business, discussing lessons learned through managing growing demands and maintaining a remote team operation.
6. Start a youtube channel ($146K/month)
Starting a YouTube channel could be an excellent way for musicians to supplement their income, make extra money, or even develop a thriving side business. With numerous YouTube success stories demonstrating what's possible, this platform offers a well-established monetization system and immense popularity. By creating engaging content, you could attract a wide audience, allowing you to potentially join the YouTube Partner Program and start generating revenue from ads.
Beyond ad revenue, you could also leverage your channel to promote merchandise, offer exclusive content through memberships or Patreon, and connect with fans for potential live performances. Reaching the minimum requirement of 1,000 subscribers and 4,000 watch hours in the previous 12 months might seem challenging, but with dedication and strategic content promotion, you could build your own YouTube success story. By capitalizing on YouTube's popularity, you could turn your passion for music into a significant income source.
How much you can make: $800 — $1,000,000/month
How much does it cost to start: $750 (?)
How long does it take to build: 90 days (?)
Time commitment per week: Min. 5 hours/week
Learn how this entrepreneurial couple made $5-7k a month by helping others find legitimate work from home jobs and creative ways to make money online through their blog and YouTube channel, as well as offering two flagship products designed to help beginner freelancers and new bloggers accelerate growth.
7. Start a blog ($44.9K/month)
Starting a blog could be a valuable way to supplement your income as a musician by allowing you to reach a broader audience and monetize your expertise. Given that 77% of internet users read blogs and blogs are rated as the 5th most trustworthy source of information, you could build a dedicated following that can be converted into a loyal fanbase. Sharing content such as music tutorials, behind-the-scenes insights, and industry advice could position you as an authority, attracting sponsorship deals, paid partnerships, and advertising revenue.
Additionally, your blog could serve as a platform to sell your music, merch, or even offer exclusive content through subscription models. With approximately 409 million people viewing more than 20 billion pages each month, the potential audience is massive. By strategically growing a mailing list and consistently engaging with your audience through regular posting, you could create multiple streams of income, propelling you closer to making six figures.
How much you can make: $100 — $650,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 30 days (?)
Time commitment per week: Min. 5 hours/week
Learn how one couple created a successful personal finance blog, The Savvy Couple, that now makes over $20,000 per month and has sold thousands of digital workbooks and courses, by focusing on purposeful content and optimizing their ROI with efficient time management.
8. Become a social media influencer ($57.4K/month)
Becoming a social media influencer could be a golden opportunity for you to make six figures as a musician. By leveraging platforms like Instagram, YouTube, Facebook, and TikTok, you could connect with a vast audience and build a dedicated following. This not only boosts your visibility as an artist but also opens the door to brand partnerships and sponsored content, where brands pay you to promote their products to your engaged audience.
With the right strategy and consistent high-quality content that resonates with your niche, you could establish yourself as a credible figure in the music industry. This credibility could then persuade your audience to act on your recommendations, whether that be buying your music, attending your gigs, or purchasing products you endorse. If done effectively, this supplementary income could quickly add up, helping you achieve six-figure earnings.
How much you can make: $2,500 — $166,666/month
How much does it cost to start: $800 (?)
How long does it take to build: 155 days (?)
How one mother built a profitable frugal motherhood, life, and travel blog from scratch, using Instagram, Pinterest, and paid sponsorships to grow from 0 to 18.5K followers and generate $1,500-$3,000 per month in less than two years.
9. Become an affiliate marketer ($55.3K/month)
Starting an affiliate marketing business could be a lucrative way for you to supplement your income and potentially make six figures as a musician. By promoting other companies' products or services, you earn a commission for every sale made through your referral. This is a low-cost venture, meaning you don't need to create or own the products yourself; you use your marketing savvy to drive traffic and sales.
To get started, you would sign up for affiliate programs in your chosen niche—perhaps music-related products or services that align with your brand. Once approved, you receive unique tracking links to share with your audience, and you earn commissions on each successful referral. This business model's minimal upfront investment makes it an accessible and risk-friendly option, perfect for entrepreneurial-minded musicians looking to diversify their income streams.
How much you can make: $18,000 — $83,000/month
How much does it cost to start: $100 (?)
How long does it take to build: 150 days (?)
This case study explores how Spencer Mecham founded Buildapreneur, an affiliate marketing business, and has made over half a million dollars in profit with no employees, relying solely on content marketing through platforms like Facebook, YouTube, and TikTok.
10. Create an online course ($82.8K/month)
Creating an online course could be a highly lucrative way to make six figures as a musician. By developing digital classes on specialized skills or knowledge you possess—whether it's music theory, instrument mastery, or industry insights—you could fill educational gaps for aspiring musicians. This approach allows you to reach a global audience, building a student base that generates passive income potential.
Moreover, launching an online course platform involves minimal startup costs while offering significant revenue opportunities. You could design flexible, engaging content that students can access at their convenience, allowing for both self-paced and cohort-based learning. For musicians who love to share information, this entrepreneurial endeavor could offer a consistent and scalable income stream.
How much you can make: $275 — $1,000,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 88 days (?)
Learn how one couple created a successful personal finance blog, The Savvy Couple, that now makes over $20,000 per month and has sold thousands of digital workbooks and courses, by focusing on purposeful content and optimizing their ROI with efficient time management.
11. Start a social media marketing agency ($386K/month)
Starting a social media marketing agency could be an excellent way for you to make six figures as a musician. By leveraging your existing knowledge of social media platforms and marketing strategies, you could effectively manage other artists' online presence, helping them grow their following while supplementing your own income. This entrepreneurial path doesn't require a massive time commitment, especially with the help of automated social media marketing tools.
Additionally, developing a strong social media marketing strategy and creating an agency portfolio could allow you to serve clients efficiently and expand your customer base. This side business could provide financial stability, freeing you to focus more on your music career and creative endeavors. This venture's flexible nature ensures you could manage your agency around your music commitments, ultimately boosting your income and opening up new professional opportunities.
How much you can make: $1,000 — $4,166,667/month
How much does it cost to start: $5,000 (?)
How long does it take to build: 75 days (?)
Time commitment per week: Min. 30 hours/week
How David Tile turned a freelance writing gig into an $80k/month business, discussing lessons learned through managing growing demands and maintaining a remote team operation.
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Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
