Shifting your artistic career into a full or part-time revenue stream takes hard work and a ton of patience.

The beginning stages can take a toll on your mental, the struggle of trying to put together the money to fund your expenses, studio time, production, travel or even just putting food on your plate.

So how can upcoming artists fund their music careers in 2021?

HOW TO RAISE MONEY & FUND YOUR MUSIC CAREER

Just as a start, I would like to put out a disclaimer.

Young new artists are often tempted to take out huge personal bank loans or apply for a multitude of credit cards to help fund the start of their careers.

I am nowhere near a qualified accountant or financial consultant but please be EXTRA careful when considering these options.

The last thing you want this early in your career is a huge debt hanging over your head. With that being said, let's get into the nitty-gritty.

ARTS GRANTS

This method is quite difficult but can be very fruitful in funding for your early music career.

Applying for and landing yourself an arts grant.

Depending on where you are located, the opportunities are endless.

This method of funding is very competitive, so you must make sure that you are submitting an application that makes you stand put.

Here are some tips on how to complete your applications correctly, to help boost your chances of success.

I know that for time and efficiency purposes, people like to send out random "one size fits all applications".

Please make sure that you qualify and tweak your application to fit the bill.

Be sure to understand what the sponsor is looking for before sending anything out. 

Sponsors and funders will always want to see that you have a solid foundation already in place.

Layout your long-term plan and discuss the steps you need to accomplish your goals.

Provide your music metrics, shows you have been booked for, your social media following, or anything that could potentially set you apart from the next applicant.

Do not overcomplicate your application, keep everything easy to understand and as clear as possible.

You probably only have one real chance at submitting your application, be sure to complete your application VERY carefully.

Read, proofread and re-read the guidelines and your application itself until you are confident that it meets all the requirements. 

CROWDFUNDING

According to the Oxford dictionary, Crowdfunding is the practice of funding a project or venture by raising small amounts of money from a large number of people, typically via the Internet.

Tons of independent artists use this tactic to growing a strong relationship with their loyal and dedicated fan base.

This method of funding gives your audience a chance to gain a stake in your career, giving them an even more personal connection.

Here are some top crowdfunding platforms 

Kickstarter / Patreon / Indiegogo

It's never any fun wasting time and effort on a crowdfunding campaign only for it to be a big bust. Here are some tips to help your campaign blossom. 

Set a precise and clear goal to make sure your supporters know exactly what they are buying into.

Whether it's a new album, music video, or a headline tour - make it clear!

Most crowdfunding platforms require you to select a funding target. if you don't reach that target... you don't get the money.

It’s that simple.

Do not set an impossible target to avoid disappointment.  

Something as simple as engaging with your supporters could make the biggest difference.

A video message explaining the campaign is an effective way to connect with fans, laying out your plan in person. 

Provide people with a reason to offer up their hard-earned cash with incentives to anyone who donates.

Prizes could be exclusive access to shows, merchandise, whatever will work for your ideal listener.

SHOWS & MERCHANDISE

Merchandise and show ticket sales are probably the biggest sources of income for any musician.

With this being the case, it is important to maximize sales in these revenue streams to take care of your expenses. 

Early in your career playing the odd free show is totally fine, this is normal. But it is best practice to stay away from "pay to play" shows, where you are required to buy tickets upfront and then sell them on... potentially making a loss. Set up merchandise stands shows as often as possible.

Sell tees, vinyl, stickers, buttons plus anything else you think will appeal to your supporters.

Make it stand out and attractive to bring people in and increase sales.

People often want a souvenir from a show - a physical piece of memory.

So it is prime for merchandise sales. Don’t miss out on sales by only accepting cash. You can easily pick up a cheap card machine online and you’ll quickly make this money back in sales you might otherwise have missed.

Check out SQUARE Use marketing techniques like limited-time discounts and offers to sell more merchandise.

Offer cheaper prices to people who sign up to your mailing list or buy tickets to your shows to reward supporter loyalty.

STREAMING & DOWNLOAD ROYALTIES

Be sure you’re getting every possible cent from your music through streaming and download royalties.

Release your music everywhere you can - Spotify, Apple Music, Tidal, you name it!

You can find out how many streaming royalties are potentially worth by using Ditto's music streaming royalties calculator here.

If you’re not already releasing your music to the major platforms, there’s never been a better time to start. 

It has to be said. Your journey is not going to be easy, so chances are you'll need some sort of side hustle to maintain your life.

This is not unusual for upcoming artists to work a job alongside their music.

The major key here is to keep going hard, promoting yourself, and never give up.