Five Ways to Profit from Music Albums

Music albums have been a profitable business venture for many musicians, but it’s not as easy as just releasing the album and waiting for the money to roll in. If you were a fan of Hootie & The Blowfish back in 1993, then you will have an idea about how successful your financial life will be if you sell records. Let’s discuss the five ways to profit from music albums even if you don’t have a huge following. These tips will help increase your chances of generating revenue from your album sales!

Collaborate with Other Artists

You’ve probably seen the tag “feat” or “Ft” in an album cover before. This means featuring the artist has decided to collaborate with other musicians and singers because it will increase your chances of reaching a wider audience. It can also lead to some pretty exciting collaborations!

For example: Let’s say we have an indie rapper named Jay-Zee who has just released a single named ‘Money to Blow’ and a music video for it. His song is doing pretty well on the YouTube charts. Still, he realizes that his audience may not be too excited about listening to him rap by himself all day long. Hence, he decides to work with other artists, for example, Beyonze, to increase awareness of their names.

Partner with Music Stores

An excellent way to increase your revenue from music albums is to partner with a music store and sell the album in that particular shop. This may be inconvenient for you as an artist, but if it helps generate more buzz about your work, then it’s worth considering!

For example: in 1994, famous singer Whitney Houston released her self-titled debut album, which became the best-selling debut album by a female artist. This was partly due to her decision to partner with leading music store Tower Records and sell the album, which gave it more exposure!

Use Non-Standard Formats for Your Music Albums

If you’re planning on releasing an EP (extended play) or maybe even just using a different format such as a USB flash drive or vinyl record, then you will be able to charge more for the album because not everyone is doing it!

For example: in 2015, singer-songwriter Ed Sheeran released his third studio album, available in CD and Vinyl formats. These were unique options that other artists did not offer, and this was a massive hit with the audience because of that!

Offer Digital Downloads as Well

If you can’t afford to print physical copies of your music album, then it’s alright, but if possible, try and offer digital downloads as well. Since iTunes is one of the most popular platforms for purchasing songs, offering an alternative place where fans can buy your songs can help generate more revenue for your music albums!

For example: In 2008, famous singer Sia released her album This is Acting which did not chart well and earned very little money. However, in 2016 she decided to re-release the same album, but this time around, it was only available as a digital download on platforms such as iTunes. This made it much more accessible for fans to buy her music which led to the album doing well on the charts!

Offer Merchandise with Your Music Albums

Another way you can make money from your music albums is by offering high-quality merchandise like t-shirts, mugs, and framed prints of your album cover. Depending on how big your fan base is, you can even offer a small concert for them to promote the album!

For example: in 2015, famous singer Taylor Swift released her fifth studio album 1989, becoming one of the best-selling albums worldwide. To celebrate this success, she decided to host a secret gig where 100 fans were invited. This was used to promote the album and give fans a chance to listen to it live!