With touring being out of the picture for the foreseeable future, it is time for musicians to increase revenue in alternative avenues. Fortunately, as artists, we are lucky to live in a time with so many new tools at our disposal to help us generate some extra money.
A great way to create an alternative revenue stream is by creating regular content on subscription services. So how does it work? The proposition here is that an artist will create content weekly or monthly and in exchange, fans will pay them a certain amount of money on a regular basis.
Being at home is a great opportunity for creating more content and to get fans to subscribe on a monthly basis to consume your content. So, in this post I’d like to talk about four types of content artists can generate for subscription services.
A great way to generate regular content to share with your fans is by making tutorial videos. The tutorials can be about anything related to your music. You can talk about how you write a song or talk about your recording and production process. You can talk about guitar techniques or present various tips and tricks about your instrument. Or, you can talk about the music business and give tips about being an independent musician. The cool part about classes is that you can build an authentic relationship with your fans!
2. Music videos
Despite the widespread impression that content should be ‘free,’ monetizing content has been possible for a long time using advertising or crowdfunding, but today with subscription services we get to have the best of both worlds.
A great way to use subscription services is to make and release exclusive music videos for your subscribers. This way your fans or subscribers can watch a video before others, which is a great way to reward them. More importantly, you can create exclusive videos for your subscription channel, such as lyric videos, concert videos, and exclusive performances of your fans’ favorite songs! You can even expand this into a full-on concert for your subscribers.
3. Questions and Answers
A third avenue you can take is to create question and answer videos. You can ask people to send you questions via email or social media beforehand. These can be your stories about collaborating with an artist, past tours, recording process, or the inspiration behind a song. What makes this category an attractive area of content is the revealing of the artistic process that people experience often. For instance, song stories are usually very interesting because we not only get to witness the artistic process, but also the personal life of an artist. Moreover, questions and answers are a great way to understand what your fans are curious about. It’s also great to build relationships with your fans.
4. New Songs
Subscription services are great ways to preview a new song. Giving the chance to hear a new song before anyone else is a great way to reward your subscribers. If you have a good following, this is an incentive to drive people towards your subscriber page. You can also combine a new release with tutorial videos of the songwriting and recording process to tell a story of ‘how to make the song’ as well. This is not only a great way to complement promoting your release, but also to create hype for the release.
These are four types of content you can generate in subscription services. In contrast to the one-time payment in the crowdfunding model, in the subscription service model, this payment is monthly, which is where it gets interesting. Since your subscribers agree to pay you a certain amount every month to have access to your content, this also brings a tier of exclusivity to the platform. This allows you to choose to give access to certain videos for certain people. And just like crowdfunding, you can create exclusive videos for higher-paying customers while creating a tiered system of different rates people pay for your channel. Not only do you diversify your content, but you also generate further revenue for your channel.
So get started with making some content and start directing your fans to your page to get them to subscribe. But most importantly, keep your content genuine, light hearted, and have fun!