For many people, songwriting and music production are fun hobbies that they enjoy in their spare time. However, these activities can also be turned into profitable side hustles. According to a survey, there were 2.74 trillion on-demand audio song streams worldwide in 2021. With such numbers, it is easy to see how, with the right talent and skills, songwriting and music production are excellent choices to earn a secondary source of income.
Here are some of the benefits of making money using your musical skills:
You Can Make a Good Income from Songwriting and Music Production
If you’re skilled at writing songs or producing music, you can earn a decent living from selling your work. There are many ways to monetize your music, such as licensing it for use in films and TV shows, selling it online, or performing live shows.
Moreover, if you build up a good reputation as a songwriter or music producer, you may be able to command higher prices for your work.
You Can Use Your Musical Skills to Promote Other Businesses
If you own a business or work for a company, you can use your musical skills to promote their products or services. For example, you could write and produce a song or jingle for a commercial or create background music for a corporate video. This is an effective way to get exposure for your business while also earning some extra income on the side.
You Can Turn Your Passion into a Career
If you love songwriting and music production, turning it into a career can be a great way to make a living doing something you’re passionate about. There are many different career paths you can take in the music industry, such as working as a producer, engineer, or DJ. Additionally, you can also teach songwriting or music production to others who want to learn.
You Can Travel the World with Your Music
One of the great things about being a musician is that you can take your work with you wherever you go. If you enjoy traveling, you can turn your musical side hustle into a way to fund your travels. For example, you could perform at venues in different cities or countries or teach songwriting or music production classes online to students from all over the world.
You Can Enjoy a Flexible Work Schedule
One of the benefits of being a musician is that you often have a lot of control over your work schedule. If you’re working as a freelance songwriter or producer, you can typically choose when and where you want to work. This can be a great way to fit your musical side hustle around other commitments, such as school or parenting. Additionally, if you’re traveling to perform live shows, you’ll usually have days or weeks off in between gigs, which gives you plenty of time to explore your surroundings and enjoy your time in different cities or countries.
As you can see, there are many benefits to songwriting and music production as a side hustle. If you’re passionate about music and want to find a way to make some extra money, consider turning your musical skills into a profitable side hustle.
Whatever your goals are, there are many ways to make money from your musical skills. So, what are you waiting for? Start writing those songs and producing that music today!
Eric Dalius is The Executive Chairman of MuzicSwipe, a music and content discovery platform designed to maximize artist discovery and optimize fan relationships. Eric is also known for his weekly podcast “FULLSPEED,” where he converses with influential entrepreneurs from a range of industries. Additionally, he supports education through the “Eric Dalius Foundation,” which grants four scholarships to US students. Stay connected with Eric on Twitter, Facebook, LinkedIn,YouTube, Instagram, and Entrepreneur.com.