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The advantage of giving away your music for free

Giving away your music for free (or really cheap) has its benefits.  This is a follow-up article to http://www.homerecordingwizard.com/make-money-music-pt-1-submitting-music-pandora/ .

 

Most business models involve giving away selected products for free. or at a loss,  to attract customers.  You want to look at the long-term benefits of having customers, vs the short-term of "losing money".  Think of coupons or weekly specials at the grocery store.  They often advertise items at a discount to attract customers to the store, hoping they will purchase other items which are not discounted.  Or the gas station that advertises "free hot dog with fill-up".  You get the idea.  Short term 'loss' for long-term gains.

 

Let's face it, there is a lot of music on the internet.  You need a way to attract people to YOUR music.  That's why the first article in my series "Making money with your music" focused on submitting your music to Pandora radio.  I am sure you have read that internet radio and Pandora do not offer much money in the way of royalties, for streaming your music.  However, the quarterly royalties you receive from the internet radio plays is NOT where the real money is going to come from.  The real money is going to come from gaining exposure and attracting fans by streaming your songs on Pandora or internet radio.

 

Once you have a fan base, you can then monetize yourself, and your music in a variety of ways: selling songs, giving lessons, live performance, selling merchandise, making custom music for advertisers etc.  The free video below, by Bob Owsinski goes in to more detail on the subject, and does a great job explaining the advantage of giving away your music for free.   This entire course by Bob Owsinksi is highly recommended and a great resource for learning how to sell your music in the various formats.

 

 

Click here to get a 7 day free pass to Lynda.Com and watch this course and thousands of others: Get 7 days of free unlimited access to lynda.com.

 

As always, if you liked the article and would like to learn more, subscribe to our mailing list and you will receive extra's which are not included in the normal Blog.  (I never send SPAM and never sell or give your email to others).

 

Mike Lizotte

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