5 Ways to Fund Your Music Aside from Streaming
Are you an artist looking for ways to fund your music?
Do you have a gift for song or producing that you want to use to serve the Lord, but are not sure how to get the capital to start?
If that’s you, you’ve come to the right place.
Navigating the complexities of the music business can feel overwhelming, but we’re here to equip you with the tools and resources you need to step confidently into your God-given purpose.
You no longer have to rely solely on streaming income to fund your music. We’ll show you other practical options that empower you to start your journey today.
By securing the funds you need to invest in your music, you can leave the stress behind and focus on what you love most—creating! Whether you’re just starting or looking to take your career to the next level, we’re here to help.
Before you start
Before you start on your journey to find sources of income to find your music, here are three things worth considering:
- Find a trustworthy funding source: not all funding is created equal, so ensure you read the fine print, whether it’s paying attention to the interest rates on loans or terms and conditions in contracts, which may have hidden loopholes. There are many scams out on the Internet, so please beware.
- Create a plan: many investors will require a clear vision of where your music is going. Writing a record label business plan is a good way to go if you are unsure of where your career is going. You will need to know your music’s aims, finances, and forecasts before you ask anybody to put their faith and money on you.
- Decide how much you need: as with any loan, starting with an amount larger than you can pay back is not good business. Creating your record label plan should give you a pretty good idea of how much you need so that you can come to the table with a reasonable amount in mind.
- Be a good steward: it is easy to get carried away when given large sums of money, but remember you came to music for our purpose- to make the Lord known through music. So, whatever amount of funding you are blessed with, ensure you are a good steward and use it only on items related to your music
How do you get funding for your music?
Starting your music career can seem like a chicken-egg situation, especially regarding streaming. If you are not popular, you don’t get the streams, and if you don’t get the streams, then you don’t get the money; luckily for you, there are other ways to get started.
- SBA loans: Small business loans, also known as SBA loans, are the first option on our list. Now that you have started your career as a musician, you can start thinking about yourself as a business. With your record label plan in tow, you can start looking for a lender to fuel the dreams you put down on paper. The US Small Business Administration is a wealth of free knowledge and the perfect place to find a lender that is right for you.
- Crowdfunding: With the advent of the Internet came plenty of places to ask others to support your dreams. While GoFundMe has always been popular, other platforms like Kickstarter, Indiegogo and Patreon have become a legit funding sources for many artists. With Patreon, your fans can pay monthly subscription fees to have immediate access to your music, content, and more. Not only is this a viable income stream, but it is also a way for you to create an exclusive community of followers to generate buzz around new releases, events, and even merchandise.
- Investors and sponsors: If you are active in your local community, personal investors and sponsors might be a gold mine for you. Friends and family can be the biggest cheerleaders to your success, and asking local businesses to sponsor a show, speakers, or a banner will also give them great exposure. As with your loan, have a plan for how you will use the money, how you will repay, and when. Use discernment when choosing who to ask for sponsorship to ensure they align with your brand.
- Residencies: Another option to kickstart your career is to look into artist residencies. These programs provide space, training, and resources to build the next generation of entertainers. There are many nationwide, including in some universities, so do your research and apply on time.
- Licensing: One of the biggest wins for CHH artists has been licensing their music. Getting your songs played at national sporting events, movies, commercials, and video games can give you a steady income stream and expose new audiences to your music- the perfect combo to further your career. Keep in mind, however, that by signing a publishing agreement, you assign the publisher the copyright to your work, so they can place your music where the opportunity presents itself. Choose your partners wisely.
Artist Resources
Here at Holy Culture, we aim to provide a place to inspire and collaborate so that your talents can be amplified; what better way to do that than to educate you through the process of being an artist?
Please check out the Inside View video series with Doc Watson, where we take a deep dive into the music industry and share the wisdom from decades of experience. This is our way of supporting you in your obedience to the Lord.
Calling Of The Highest Order
Serving the Lord is a calling of the highest order. Using our talents to point the world toward Him is a privilege, but it often comes with serious challenges.
Yet, with purpose, God also provides the means to fulfill the goals He has set for us.
Breaking into the music scene as an independent artist can be difficult, but it’s far from impossible. By exploring alternative methods to fund your career beyond streaming, you can pave a unique path that aligns with your calling.
This isn’t an all-inclusive guide, but it’s designed to equip you with practical steps to begin walking in your God-given purpose.
Remember, the work you’re doing has eternal significance, and the effort you invest in sharing His love through your music will not return void. Trust in His provision, step out in faith, and watch how He uses your talents to impact the world.
If this article has inspired you, please subscribe to our newsletter to be alerted when the next piece is released. You can also support the continued creation of this content by making a tax-deductible donation.