Top 7 Music Monetization Platforms

                                                                                                                                                                                                                                                                                                   09-July-2024
Being a music artist, these days comes with some awesome perks, right? There are more ways than ever to get your music out there, be heard by millions, and even make some money! If you feel your music can grab your audience’s attention then why not boost your earnings? Music monetization lets the creators make money by selling their tracks online, but you need to own the rights. Whether you’re selling albums, licensing songs, or looking for a music recording studio near me to create your next hit, there are plenty of options to consider. Before you start looking for a professional recording studio, know some interesting monetization platforms to help you get started.

1. Bandcamp

Music artists love Bandcamp. This music monetization platform can be used for creating own music and even selling it online. It is super easy to use and you can even personalize the site your way. There is pretty cool stuff you can do here like using their designing tools and changing the look and feel of your album the way your fans would love to see.

Pros:

·      High revenue share for artists

·      Direct artist-to-fan sales and interaction

·      Easy to use and set up

·      Supports digital and physical sales

Cons:

·      Smaller user base compared to mainstream streaming platforms

·      Limited exposure for mainstream listeners

·      Limited discovery features

2. CD Baby

No doubt, iTunes and Spotify are the best streaming services for music and if you want to get your music on such platform, try CD Baby. This will be a convenient option for music distribution. The best part is it does not take your music ownership and you can retain the publishing rights too. We all know that earning money with music streaming can be overwhelming especially for beginners since they have a limited fanbase. That is when you can consider CD Baby which offers legitimacy sense allowing people to find your music easily.

Pros:

·      Comprehensive distribution to multiple platforms

·      Offers services like physical CD distribution and music publishing

·      Good customer support and resources

·      Artists retain 100% of their rights

Cons:

·      Upfront and annual fees for distribution

·      Commission taken from digital sales

·      Outdated user interface

3. Spotify

With the help of Spotify's new Spotify for Artists function you may upload your music straight to the service without using an intermediary. Although it's revolutionary, utilizing a digital distributor is still worthwhile. They help get your tracks on other platforms like Apple Music and Tidal, giving your music more reach. So, go direct with Spotify, but keep those distributors in the loop!

Pros:

·      Massive user base and global reach

·      Playlist placement can lead to significant exposure

·      Offers data analytics for artists

·      Integrates well with other social media and music platforms

Cons:

·      Low per-stream payouts

·      Difficult for new artists to gain traction without playlist placement

·      Limited control over how music is presented

4. Amuse

You can use the services at Amuse free of cost. Don’t worry about the commission as they use data analytics to choose the artists. So if you have great tastes in music then try out this platform to earn money.

Pros:

·      Free distribution service

·      Retain 100% of your royalties and rights

·      Option to upgrade to paid plans for additional features

·      User-friendly app interface

Cons:

·      Basic services are limited in features

·      Less comprehensive distribution compared to paid services

·      Paid plans may still be necessary for more serious artists

5. Kompoz

You can create music online with friends, bandmates, and music artists across the world using cloud-based workspaces at Kompoz. Start by sharing music you created at professional recording studio, and upload tracks and invite others to jam with you. Need a specific instrument? Just crowd-source tracks by posting a Help Wanted brief to over 100,000 music artists. Once your song is ready, publish and stream it on Kompoz Radio, joining a vibrant community of music creators. It's a great way to connect and make music together!

Pros:

·      Collaboration-focused platform for musicians

·      Allows musicians to work together remotely on projects

·      Free to use with a supportive community

·      Facilitates global collaboration

Cons:

·      Limited to collaborative projects, not a full distribution service

·      Smaller community compared to mainstream platforms

·      Limited monetization options

6. Blend

You can even consider collaborating with other music artists and create your own identity without actually searching for a music recording studio near me. It means you can play your music with other artists and your skills will be appreciated by the listeners too. In return, you not only get fame but also profit from increased music streaming. One such platform that you should try out is Blend. Here you can gain more followers and even your regular followers can find your music conveniently and enjoy streaming it.

Pros:

·      Focus on collaboration and remixing

·      Integration with DAWs and music software

·      Encourages sharing of project files and stems

·      Free to join with premium features available

Cons:

·      Niche platform with a specific focus on remixing and collaboration

·      Smaller user base

7. TuneCore

If you love digging into analytics and are okay with paying a bit extra, TuneCore might be your jam. It's like a mix between CD Baby and DistroKid, offering an annual subscription model based on how often you release music. They have cool extras like publishing, sync promotion, and YouTube revenue setups. It's a solid option for serious artists!

Pros:

·      Artists retain 100% of their sales revenue

·      Offers publishing administration licensing

·      Good analytics and reporting tools

Cons:

·      Annual fees for each release

·      Can become costly with a large catalog

Conclusion

With music monetization, you can create music without actually searching for a music recording studio near me and paying the hefty rent. Rather, you can take time to participate in online concerts or perform on social channels while the monetization services will do their job to generate income from the music you create. All you have to do is create your song or be the music copyright owner. 

At UNION Music Studio we offer comprehensive audio solutions so talented music artists can upload and even manage their songs. Get in touch with our professional recording studio to learn more about this content management system.