Professional songwriters can generate many different sources of income from their songs in the same way an author creates additional income turning a novel into a movie, TV series or graphic novel. It doesn’t matter whether your song has gathered a million plays or just a handful of listens, you can still put your compositions to work for you to generate more revenue. All it takes is a little creativity and a sense of adventure. Here are a few ways your song can also make you money:
Make an Old Song New Again
As they used to say on MTV, too much is never enough - especially when it comes to the ways you can re-record and sell your music. Top selling artists release multiple versions of both hits and deep cuts to present different versions of their hits and put a new spin on less well-known tracks. You can remix a song and take the lyrics away and release an instrumental version you could license to film or TV programs. How about stripping down your sound and releasing an acoustic, unplugged version. For another change of pace, you could amp up the electronics and work with a guest DJ to make an electro-dance version of your original song. If you’ve got fans who don’t speak English or you’d like to have some, try translating your lyrics and creating a Spanish, German, Korean or other foreign language versions of your song. You could also re-record your song live at a favorite venue and release it to fans and others as a live single.
Ringtones for Dollars
Imagine a world where every time a phone rings, your music plays. Creating and selling ringtones on iTunes can be a fun as well as a profitable way to repurpose your most popular or favorite songs. Even though you won't earn royalties each time the phone rings, the good news is that you can earn royalties each time your ringtone is downloaded.
Make Music for Video Games
We all have friends who spend more time in their virtual worlds and video games have some pretty interesting soundtracks to help keep players coming back. Many songwriters have been quite successful in creating music for video games. Kotaku, the popular gaming site, profiles artists already composing for games and ASCAP has created an FAQ about how music licensing works when it comes to video games.
Sell Your Songs to Stock Music Libraries
Music is everywhere and stock music pops up in a variety of places including shops, podcasts, meditation CDs, elevators and corporate training videos. The Guardian UK says that everything from a simple keyboard motif to an epic orchestral track and everything in between is needed by music libraries to sell to customers for a variety of purposes. There are a number of music libraries that need composers to create music for their clients and Discmakers has some helpful tips to get you started. If you upload your music and it’s approved by the library you can set your own price and earn a percentage of each sale and music libraries offer some of the most favorable royalty splits in the industry which isn’t bad for a side hustle.
Be King (or Queen) of Karaoke Night
As you may already know, the use of music and lyrics in karaoke is another mechanical use that can be another source of songwriter royalties. Aside from the kick you’ll get out of hearing your friends and total strangers belting out your songs at the local bar, you’ll also earn royalties every time someone sings your song. Licensing your music for use with karaoke could also potentially generate royalty income in a number of different ways including publishing, mechanical and synchronization rights.
These different ways to get your song out there can be that little extra push you need to help generate more revenue. Think of your song like a business by doing research on other revenue avenues to help you get compensated for your work but always remember to remain the owner of your copyright.
To make sure you’re collecting all of your mechanical and performance royalties globally, register for Songtrust as your publishing administrator today!
Maximize Songtrust for Your Songs and Business
We created this guide to answer a simple question: How do songwriters support themselves?
The answer is not as simple as we’d like, but our goal is to make it as clear, transparent and understandable as we possibly can.
Songtrust is more than just a rights management platform and publishing administrator - we’re a team of experts in the music community who strive to educate, support, and provide thought leadership to creators, representatives, and businesses across the music industry.
Our hope is that you’ll finish this guide with an better understanding of the business behind songwriting and have actionable resources to help you be successful. Included is an extensive glossary, too; if you see a term in bold in the text, you’ll find it in the glossary at the end.