I just got word that several tracks I created for a TV show a few months ago didn’t get picked up.  This came as a bit of a shock as I was under the impression that at least one of several tracks I had created for this particular show were going to be used. 

So, I was a little disappointed when I got the email this morning to learn that this particular show had gone with other composers over my tracks.  But, at this point, I’m used to both good news and bad news and in the grand scheme of things it’s really not that big of a deal.  This show doesn’t pay upfront sync fees and the back end for these types of tracks, instrumental ambient cues, don’t tend to pay that much anyway.  Maybe I would have made a few hundred dollars, over the course of a year, for these particular tracks had they ended up being used on this particular show.  No big loss.

So, in the end, I wasn’t really that upset and after all I still own the tracks so of course I can license them elsewhere.  I’ve already received interest from another company in two of the tracks.  Life goes on.

But, after I thought about this deal falling through and how in the grand scheme of things it’s really not even that much money in the first place, it really got me thinking.  You see, last week I launched a course on how to make money with your music on Youtube.  I’ve sent several emails about the course and I’m sure you’re probably tired of hearing about it by now, but before you stop reading, hear me out. 

I hadn’t planned on sending any more emails about Youtube or the new Youtube marketing course until I received this email this morning.  And I’m not going to try that hard to convince you to buy the course in this email.  That't not the point of this email.

Instead.  I want you to really think about something. 

If you think about what licensing is, how artists get paid and where the money actually comes from, and really think it through, you’ll realize that it’s only one of many ways to generate money from your music these days, and it’s not necessarily the best.

When you license your music, you’re trying to convince someone else to use your music in their production.  Usually you’re competing against hundreds, or thousands of other composers and vying for the attention of either a music supervisor, music editor, music publisher and so on to listen to your music and give you a shot.  Then, assuming you make your way through this maze and are successful, you are paid a fee either upfront or on the back end for the use of your music.

Usually the money you’re paid comes from ad revenue.  TV shows make money from ads and that money is what allows shows on television to exist.  The ad revenue pays for the actors, the production and the music.  The more popular a show is, the more they take in from ads and the more they can pay to their actors, crew and potentially for music, although musicians are usually the last ones to get a raise in these situations.

The exciting thing about Youtube, and the internet in general, is that it uses, essentially, the exact same model.  People post videos, those videos generate traffic, that traffic generates ad revenue, and a percentage (55 percent) is shared with content creators. But the even more exciting thing about Youtube is that you don’t have to get anyone’s permission to create and monetize content.  There are no gatekeepers or people that are going to reject your content, well, for the most part, unless you pull an Alex Jones and go too deep!

Now Youtube isn’t exactly new and this opportunity has existed for some time, but if you step back and really think about how exciting and novel this is, maybe you’ll reassess your approach to the internet and how you monetize your music going forward, as I have.

Also, keep in mind, that cable television is dying a slow death.  2017 was the first year in which downloaded and streamed video was more popular than watching traditional tv with consumers under age 45. Of course, a lot of what's being streamed are movies and programs on platforms like Netflix, Hulu and Amazon.  So there are still licensing opportunities for this programming.  But there is also a massive amount of independently created programming being consumed on platforms like Youtube.  Youtube alone generates about 3 billion dollars in ad revenue a year.

I think we humans are slow to adapt to new changes and even though there are examples of musicians making a full time living on Youtube and similar platforms, I sometimes get the feeling a lot of us are still clinging to an old, outdated model of the way the music business and the world works. We live in a time where any of us can essentially be our own tv stations, music supervisors, content creators and so on and get paid for it.  Right now!

Now, don’t get me wrong, I’m not saying it’s easy and I’m also not telling you that you should abandon traditional music licensing or completely reinvent yourselves.  Keep doing what’s working for you. If you’re making money from licensing, keep doing that.  If you’re making money from gigs, keep playing them.  Keep doing what’s working. 

But, at the same time, be aware there is a whole new world of opportunities available to you online that could be a great way to supplement or even surpass your existing income in the future.

If you’re interested in learning how one composer is making over 50k a year from Youtube alone, and how you can too, check out Advanced Youtube Marketing For Musicians.