Because of the technological advancements in the last decade, the music industry has changed a lot. Not only has this changed the way music is released, it has also introduced many new opportunities for artists and producers to make money. Because it has never been easier to make music with the digital tools of today, and because there are new ways to make money, there have been lots of newcomers in the music industry who gave music a try. The result of this is that the music space is very crowded, and the overall sum of money made with music is shared among a larger number of people. Therefore, it is good in these times to diversify as an artist, so that you can benefit from multiple revenue streams.

Luckily, there are many revenue streams to choose from, and they can all give you a nice income. We will go through most of the important revenue streams here. Keep in mind that there are entire books written on all of these revenue streams, so what is described here is a broad overview. If you learn about a revenue stream here and are interested to dig deeper, check the Recommended Resources section for more detailed information.

You can make any combination of revenue streams, depending on what you like and what you are good at. Keep in mind though, there are only 24 hours in a day, so it is impossible to do all of these jobs at the same time. If you try too much at once, you will always divide your attention, and you will likely never become great at any of the skills. Therefore, it is always good to specialize in at least one of the revenue streams. By specializing, you can get better at something than most people, and it can be really lucrative to be better than most. That being said, it is up to you to find out which revenue streams work best for you, so make sure to experiment and gain experience, so you know which way to go.