CASH IN POCKET
by Jimi Yamagishi
Director of Songnet.org
April 5, 2008
Revenue Streams in the Music Industry
So, you’ve gone past the 7 secrets to survival and now want a serious career.
How do I get more money into my income stream?
ANY WAY YOU CAN GET IT. (as long as nobody gets hurt or busted) :)
Look at how ANY industry or person creates income:
Supply vs Demand.
A good example are music tchokes.
Bottle opener? So what?
GUITAR SHAPED bottle opener? Hell ya! I'll take a dozen! Same product, different marketing strategy.
Hot chicks, hot cars, hot stereo, at a car show. Nice.
Hot chicks, hot cars, LIVE BANDS, it’s an AUTOMOTIVE FESTIVAL!
Gallery opening, canned music, nice.
Gallery opening, acoustic jazz trio, Elegant!
I met a karaoke singer at a wedding, and did a few weddings together as a duet. She went from 100 bux using tapes to splitting 300 with me
live, AND splitting tips.
Thinking outside the box. Finding untapped PAYING gigs. Creating events that people are willing to spend money to come see. Using your niche market potential to sell product & play places other artists can't do or are unable (or unwilling) to attempt.
"Naked Cowboy" has been in Times Square for several years. He can
afford to be there so long because he has a unique niche. His music is
barely adequate, but he makes plenty in tips and merchandising.
Danny Elfman is making more than ever in royalties from TV work,
proving there is life after Boingo.
A personal acquaintance gets a check regularly from Toyota, because she is the "Please fasten your seatbelt" voice in every Lexus sold.
Another gets his checks from Activision because of the radical guitar
parts he put into several games.
Sometimes thinking outside the box means putting it INSIDE a box.
“Sampling” toys are everywhere. You’ve seen those toy guitars
that play a lil’ riff. That Elvis doll that shakes and sings 5 of his
hits Sure that costs a bit. But how about on a smaller scale?
Shutup and listen around yourself.
Ringtones are just a start.
That catering truck playing “Mexican Hat Dance”. Could be your
tune. That buzzing egg timer. What’s more alarming than a hot-rodded
Strat into a full-tilt Marshall?
Ever notice that NO keyboard has that ATT “connecting” sound? It’s because it’s TRADEMARKED & COPYWRITTEN. To put that sound into your KORG would cost a zillion dollars.
SOMEONE is making money on a single SOUND. Think. Any sound you hear can be put on a chip and played back. Music can be added to the most mundane things. Instead of a sweet tinkling jewelry box, why not a BOXX THAT ROXX! A heavy metal picture frame that plays HEAVY METAL! You’ve all seen or gotten one of those musical greeting cards.
By yourself, the amount of merch you need to commit to is a lil’ staggering. But, JOIN FORCES with others, maybe a full on publishing consortium. Find out where those gift manufacturers get their music. Hookup a licensing deal across several bands/artists through that. Create a marketing strategy that goes into places like Pac Sun & Hot Topic. Tattoo Parlors. Yoga supply centers. Music stores.
Know your market and bring yourself to them. That catering truck by the warehouse does well because they bring food to where the people are. Duh. AND, don’t forget the merchandise. Besides printing your face on t-shirts and mugs, how about jewelry?
Create a cool logo and have a local jeweler whip up some cool stuff. Or a jewelry hobbyist. Yeah, you know you have a VH pin SOMEPLACE in a drawer. A couple of other people I know make jewelry out of used guitar and bass strings!
Don’t forget the logo branded bottle openers mentioned in the
beginning, which always sell well if you gig in a place that sells
imported beer (not the domestic screw top scum) What price glory? Sure, with some of these income streams, to the world, you may be anonymous. But hey, it's nice to go to the market without being mobbed by fans for the same pocketful of dead presidents, right?
In sports, a franchise owner doesn’t have to play the game.
If you take ownership of your situation, the same thing applies.
and that means you are still doing music or creating art 24/7. You are
doing what you love, not working a job and by slightly adjusting the
parameters, you are sustaining yourself with a reasonable income.
Okay, now you’re making money off my free advice. Buy me lunch.
:)
- Jimi