Every musicians wants to sell his cds and possibly merchandise (t-shirts, mugs, etc). Why not sell other people’s products as well? Did you know you can get a commission for every product that someone buys through your website (via an affiilate link)?
According to music futurist Glen Leonhard, the future is around content, assuming you can get attention and engage with your readers the key method to monetize this is via sponsorships and product placements (in videos, blogs, etc) or what I also suggest: – affiliate commissions for related products. You don’t have to sit around waiting for someone to sponsor you. You can go obtain the products right now. Sign up as an affliate at Clickbank, Commission Junction, or PayDotCom for example. Or find an affiliate program for something else you like (guitar, drum, bass gear for example). Amazon and SheetMusicPlus has tons of products for sale in the music industry. You’re only limited by your creativity.
I give away my songs for free. But I present related products (ie. product placements) around my content, not just big banner ads, but text links. I put them in my blog posts and video descriptions. You can put links to tunes you like (for ITunes/Amazon commissions), music lessons, songwriting courses, music gear, and so on. The possibilities are endless!