Are you a musician with recorded songs?
You might be leaving money on the table! In this article I’m going to tell you how to make money with instrumental versions of your songs…
As an independent musician it’s important that you explore every potential revenue stream. That’s what this blog is all about… Becoming more tactile and getting start about monetizing your music. There are dozens of ways that you can monetize your music and you can do it independently. Generating revenue from instrumental versions of your songs is a strategy that is often over looked.
There are thousands of marketplace websites where you can start selling instrumental versions of your songs to everyday people and business who need inexpensive music clips for various purposes. These include music for videos, school projects, and events. Typically, the usage rights are sold for anywhere between $10 – $100 and commissions are split between you and the company. It’s small but can grow! A few sites to get started on are Pond5 and Audio Jungle.
Tip: Consider making little 15, 30, and 60 second clips of your instrumentals. Typically, this is the format that people are interested in buying in addition to full versions.
Music Library Sites
These companies and similar to stock music companies but slightly more curated and with a sightly different market. Typically, these companies choose the content they want. You can’t just sign up and sell your music. These sites cater more to media companies and film/tv placements. Usually “in show” placements. The payout is slightly higher and can be residual. Most of the time these companies are seeking “collections” of instrumentals that fit well together. 10 – 15 songs. They then pitch the entire collection to their buyers. Non-instrumentals can also be accepted in some cases. Examples are Premium Beat and Premiere Trax
Micro Licensing Sites
Examples are The Music Bed and Levelo. These are higher tier and very curated. You music has to be top notch! These companies cater to media companies, commercials, and film makers. Licenses range from $100 – $1000+ depending on the usage and it’s typically split between you as the artist and the company. A lot of the material on these sites are full songs (with vocals) but instrumentals perform very well! The good thing is that they are typically responsive to considering new music, but it has to be a “fit” and really pro sounding. Like REALLY pro.
Tip: Take a listen to the material on these types of sites and see if your music is up to par!
So, what are you waiting for? Go monetize the instrumental versions of your song! Another thing to note… You need to get clear on who owns your instrumentals and make sure that you can clear them. Also note that your instrumentals will be registered and “treated” like a different song as far as paperwork is concerned.
Daniel Grimmett / CEO The Songwriting Team