20 Passive Income Ideas for Musicians [2024]
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I know you’re busy. I’m busy too. So, what’s the best way to make money as a musician without actually doing anything? Passive income!
But don’t be mistaken. You have to work hard to achieve this passive income.
In this blog post, I will share some ideas for how musicians can make passive income. Stay tuned for tips on how to get started!
1. Start an online advertising agency
An online advertising agency can be a great fit for musicians who want to help other businesses grow their online presence through effective advertising campaigns. By managing a team of experts and handling client communications, you can generate passive income while helping others reach their target audience.
An online advertising agency helps businesses promote their products or services on the internet.
To start this business on a budget, first learn the basics of digital marketing through free online resources.
Create a professional website and set up profiles on social media platforms to showcase your skills.
Build a portfolio by working on mock campaigns or offering discounted services to friends and family, and gradually market your services to attract clients.
With dedication, you can grow your agency over time.
How much you can make: $2,797 — $1,250,000/month
How much does it cost to start: $2,500 (?)
How long does it take to build: 45 days (?)
Iman Gadzhi made over $1.2M in profit within two years with his social media marketing agency and education company, where he teaches entrepreneurs how to start and scale a profitable SMMA, with over 45 of his students making over six figures with their SMMA, and over 300 students having quit their regular jobs.
2. Start a newsletter
A newsletter can be a great fit for musicians who want to keep their audience engaged and informed about their music and industry news. By building a loyal subscriber base, you can monetize your newsletter with sponsorships and generate a passive income stream.
Did you know that in the past five years, there has been more than a 50% increase in the number of people who read newsletters?
Newsletters are one of the few things you can use to market yourself as a trusted expert. A well-written newsletter can educate your subscribers and build connections with them.
Email newsletters are a great way to connect with customers and potential customers. It’s a newsletter’s job to inform, persuade, and sell to your audience.
How much you can make: $100 — $3,000,000/month
How much does it cost to start: $400 (?)
How long does it take to build: 22 days (?)
Financial media company MarketBeat, founded by Matt Paulson, provides objective financial information and real-time market data to empower individual stock investors to make better trading decisions, generating approximately $8 million in revenue in 2019 and ending the year with over 1.3 million unique email subscribers due to a freemium model with 75% of revenue from advertising and 25% from subscriptions.
3. Start a pet company
A pet company can be a great fit for musicians who love animals and want to create their own line of pet products, like pet food or toys. By building a unique brand and leveraging social media, you can create a passive income stream that continues to generate revenue long after the products are created.
Starting a pet business requires a lot of hard work and dedication, but it's well worth it. Not only will you be able to spend more time with your pets, but you'll also be able to provide them with a better life.
There's no shortage of products or services you can offer when starting a pet business. From food to toys to grooming services—the list goes on and on!
You can offer these services at home or another location that suits you best (such as at an animal shelter). This means that not only will you be able to make money doing something you love while also helping others—but you'll also get the flexibility needed to do it all from wherever works best for both yourself and your customers (who might not always have time or transportation).
If you love animals and want to make a living from your passion, starting a pet business might be the perfect fit for you.
How much you can make: $400 — $1,833,333/month
Furry Fellas Pet Service LLC is a successful pet sitting and dog walking business that brings in over half a million dollars in sales per year, boasts 3,500-4,000 social media followers, employs 42 individuals and has been voted in the top 3 pet sitting/dog walking companies in the RI/MA area for eight years in a row.
4. Start an ecommerce platform
An eCommerce platform can be a great fit for musicians who want to help other businesses sell their products online. By managing an online marketplace and handling client communications, you can generate passive income while helping others grow their online sales.
Over the past decade, eCommerce has become an indispensable part of the global retail framework. According to statistics, over 2 billion people prefer shopping online.
While brick-and-mortar stores are still making more sales compared to online sales, the adoption of eCommerce is still rising, mainly because of the increased speed and convenience of online shopping.
Therefore, starting an eCommerce platform could set you on the right path to building a futuristic business.
How much you can make: $100 — $83,333,333/month
How long does it take to build: 110 days (?)
StoreYa co-founders Eyal Reich and Yariv Dror, along with CTO Pasha Zaft, created a suite of marketing and advertising apps that include Traffic Booster, which has generated an average of $700,000 MRR and helped the business win a 2018 Google Acquisition Performance award, as well as becoming a PayPal exclusive advertising partner.
5. Start a life coaching business
A life coaching business can be a great fit for musicians who want to help others achieve their personal and professional goals. By offering one-on-one coaching sessions or group coaching programs, you can generate passive income while helping others grow and succeed.
Life coach helps people in various areas of their lives using a combination of emotional intelligence, professional knowledge, and experience.
Life coaching is a popular industry worth over $2.85 billion, and the number of life coaches has increased by 33% between 2015-2019.
This is a very profitable business and can be started at virtually no cost. You’ll need a computer, a high-speed Internet connection, and a LinkedIn account to start. Then, you can begin coaching part-time in your spare time until you build up your clientele.
How much you can make: $100 — $660,000/month
How much does it cost to start: $750 (?)
How long does it take to build: 90 days (?)
Time commitment per week: Min. 5 hours/week
GrowthMentor, a platform connecting vetted growth mentors for one-on-one calls, founded by Fotis Panagiotakopoulos, has had over 2,500 mentorship calls booked to date and has seen success in using word of mouth, content marketing, and leveraging other people's networks as the primary drivers of customer acquisition.
6. Start an online jewelry store
An online jewelry store can be a great fit for musicians who want to create their own line of jewelry. By building a unique brand and leveraging social media, you can create a passive income stream that continues to generate revenue long after the products are created.
The online jewelry store industry has been growing rapidly. More and more people are buying cheaper jewelry online because it is easier and has a much more extensive selection.
The United States jewelry market was valued at about $76B in 2020, and diamond is considered to be the most valuable and lucrative among all forms of jewelry.
If you’re considering starting an online jewelry store to tap into this market, it’s crucial to choose the right e-commerce platform that can support your business needs and enable seamless transactions with your customers.
A great platform can help you showcase your products, manage your inventory, process payments securely, and provide an enjoyable shopping experience to your customers.
How much you can make: $1,000 — $833,333/month
How much does it cost to start: $7,500 (?)
How long does it take to build: 120 days (?)
Taylor & Hart CEO Nikolay Piriankov tells the story of the company's journey from a diamond trading business to an award-winning, disruptive e-tailer of custom-designed, ethical engagement rings and fine jewelry, offering a bespoke design service through specifically developed technology online and instore, and growing to £4-6M in annual revenue.
7. Start a travel agency
A travel agency can be a great fit for musicians who love to travel and want to help others plan their own trips. By managing a team of travel agents and handling client communications, you can generate passive income while helping others have amazing travel experiences.
Are you a passionate traveler with entrepreneurial skills? Then starting a travel agency can be a great career choice for you.
As a travel agency, you'll be responsible for linking travelers to providers of all the travel and tourism-related services such as accommodation, transportation, sightseeing, tour guides, local adventure, etc.
Starting an online travel agency is a lot easier than you might think. You'll need to perform market research, get a few necessary certifications (such as your IATA number), study competition, build a website, and do proper marketing.
To maximize earnings, negotiate discounts from the industry service providers, and charge travelers within the market rate.
How much you can make: $2,000 — $114,200,000/month
How much does it cost to start: $1,000 (?)
How long does it take to build: 90 days (?)
Marissa Daniels runs a successful travel agency, Spread Your Wings Travel, that hit $100,000 in sales within a year of launch and provides payment plan options for its all-inclusive vacations, and she hopes to help 100 families supplement their income through the business.
8. Create a mobile app
A mobile app can be a great fit for musicians who want to create an app that solves a problem for other musicians or music lovers, like a music production or streaming platform. By creating a subscription-based product, you can generate passive income while helping others in the music industry.
How much you can make: $1,000 — $150,000/month
RipenApps is a fast-growing mobile app development company with a 100% industry success rate, and in just four years, it experienced a high turnover rate of $1.5M and increased its team from four to 169+.
9. Become an author
As a musician, you can leverage your creativity and writing skills to become an author and write books on music or other topics. By building a following and creating a strong brand, you can generate passive income from book sales and royalties.
Becoming an author is an exciting journey that involves creating and publishing written works, such as books, novels, or articles that reflect one’s ideas, stories, or expertise.
You can establish yourself through traditional publishing routes or self-publishing, utilizing your literary skills to connect with readers and potentially earn revenue from book sales.
Traditional publishing involves submitting a manuscript to a publishing house or literary agent who will review and decide if it is suitable for publication.
On the other hand, self-publishing gives authors complete control over the publishing process, allowing them to publish their work independently and market it on their own.
You can generate income through book sales, royalties, and opportunities such as speaking engagements or workshops.
How much you can make: $200 — $9,259,259/month
How much does it cost to start: $1,000 (?)
How long does it take to build: 75 days (?)
This case study follows full-time thriller and action-adventure author Nick Thacker who earns between $10k to $20k per month from writing, predominantly through Amazon Kindle Unlimited sales, and goes in-depth into his self-publishing strategy which maximizes sales and minimizes costs, such as developing a mailing list and utilizing print-on-demand services.
10. Start a finance blog
A finance blog can be a great fit for musicians who want to share their knowledge and expertise on personal finance or investing. By building a loyal following, you can monetize your blog with sponsorships and generate a passive income stream.
A finance blog is a feature appearing as part of an online publication relating to finance and consisting of articles or personal commentary. A finance blog earns income through sponsored content or simple marketing programs. To succeed in business, a finance blogger should:
- Have a good writing background
- Understand the industry from a concept or fundamental standpoint
- Be passionate about the topics
- Be well organized and maximize the work schedule.
Starting a finance blog involves a low financial investment, while there is a considerable possibility for success. There are minimal overhead costs, saving you time and money. Therefore, starting a finance blog is an incredible business opportunity.
How much you can make: $2,000 — $3,000,000/month
How much does it cost to start: $200 (?)
How long does it take to build: 30 days (?)
Financial media company MarketBeat, founded by Matt Paulson, provides objective financial information and real-time market data to empower individual stock investors to make better trading decisions, generating approximately $8 million in revenue in 2019 and ending the year with over 1.3 million unique email subscribers due to a freemium model with 75% of revenue from advertising and 25% from subscriptions.
11. Start a content marketing agency
A content marketing agency can be a great fit for musicians who want to help other businesses create engaging and effective content. By managing a team of writers, designers, and social media experts, you can generate passive income while helping others grow their online presence.
Content is the currency of the digital world. Today, more and more businesses need to work with writers and content marketers. If you want to get into these kinds of jobs, you should start a writers' or content marketing agency.
Worldwide content marketing industry revenue was estimated at roughly $66B in 2021. The source projected that it would increase to $76B in 2022 and that it would continue growing over the further years to reach $137B in 2026.
Content marketing will continue to grow in significance with the increased use of digital channels. Therefore, the demand for content marketers is projected to grow by 27% over the next few years.
How much you can make: $500 — $741,666/month
How much does it cost to start: $1,500 (?)
How long does it take to build: 45 days (?)
How David Tile turned a freelance writing gig into an $80k/month business, discussing lessons learned through managing growing demands and maintaining a remote team operation.
12. Start an etsy shop
Etsy is a great platform for musicians who want to sell their handmade products, like jewelry or art prints. By creating a unique brand and aesthetic, you can attract customers who are interested in supporting independent artists and generating a passive income stream.
Etsy has been around for over a decade, and the platform has become more popular for creators, entrepreneurs, and consumers.
The platform started as a place for crafters to sell their supplies and handmade goods. Now it has become a venue for artists and small businesses of all kinds to sell their products.
If you just started your shop or want to sell your products on Etsy, there are many different ways to kill on the platform. With the tips and advice of Etsy sellers who’ve been in your position, you’ll soon be successful!
How much you can make: $100 — $750,000/month
How much does it cost to start: $1,000 (?)
How long does it take to build: 30 days (?)
Chasing Planner Peace is a planner company that has expanded from selling planner inserts on Etsy, to offering a one-stop shop customizable planner experience with over 300 inserts, a planner line, and various other related products, gaining a monthly revenue of around $25,000 at its busiest time of year.
13. Start an affiliate marketing business
As a musician, you can use affiliate marketing to promote other music-related products, like instruments or music software, and earn a commission on each sale. By creating content that appeals to your audience, you can generate passive income without needing to create your own products.
Are you looking for a side hustle to pay you a passive income? Affiliate marketing is one of those side hustles that will pay you well over the long term. It is a way to earn money online by promoting other companies' products and services. You will be paid a commission for each sale you make as an affiliate marketer.
To get started, learn how to find the right product and brand to partner with. For example, you may prefer becoming an affiliate marketer for an eCommerce store, partnering with a manufacturer, and marketing their products for a commission.
How much you can make: $500 — $773,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 60 days (?)
This case study explores how Spencer Mecham founded Buildapreneur, an affiliate marketing business, and has made over half a million dollars in profit with no employees, relying solely on content marketing through platforms like Facebook, YouTube, and TikTok.
14. Start a podcast
A podcast can be a great fit for musicians who want to share their music and connect with an audience. By building a loyal following, you can monetize your podcast with sponsorships and generate a passive income stream.
The podcast business involves creating and producing audio content that people can listen to online.
It’s a popular form of entertainment and information-sharing.
To start a podcast business on a budget, you'll need a few key steps.
First, choose a niche or topic that you're passionate about and that has an audience.
Next, get basic recording equipment like a microphone and headphones.
Then, find a free or affordable hosting platform to publish your episodes.
Finally, promote your podcast through social media, online communities, and word of mouth to build an audience and potentially attract sponsors or advertisers.
How much you can make: $400 — $1,020,000/month
How much does it cost to start: $3,055 (?)
How long does it take to build: 60 days (?)
Time commitment per week: Min. 2 hours/week
A successful podcast production company that grew from one client making $15/hour to a team of 10 contractors producing over 30 shows per week with revenue of over $10k/mo, primarily through referrals and with a focus on providing high personal touch and being picky about working only with clients who are a good fit.
15. Start a YouTube channel
A YouTube channel can be a great fit for musicians who want to showcase their music and build a following. By creating engaging content that appeals to your audience, you can monetize your channel with ads and generate a passive income stream.
How much you can make: $13,000/month
This case study follows the journey of a young entrepreneur from Nigeria who started a profitable blog generating a monthly revenue of $1,500+ through sales of advertising space, sponsored posts, and information products, and shares his strategies for success including a Twitter growth challenge and guest post pitches.
16. Start a marketing consulting business
A marketing consulting business can be a great fit for musicians who have expertise in marketing. By providing marketing services to clients, you can generate passive income while helping others grow their businesses.
Marketing consulting is a business that helps other businesses and organizations improve their marketing strategies and tactics. The improvement involves conducting market research, analyzing data, developing marketing plans, and offering guidance on effectively reaching target audiences.
To start a marketing consulting business, you will need a strong understanding of marketing principles and how to apply them in a business context. Marketing consultancy requires formal education or training in marketing or a related field and experience working in the industry. You will also need strong communication and problem-solving skills to consult with clients effectively.
To operate a successful marketing consulting business, you will need to be able to effectively assess a client’s marketing needs and develop a plan to address those needs. Managing clients’ needs involve market research, analyzing data, and creating marketing materials such as brochures, websites, and social media campaigns. You will also need to be able to communicate your recommendations to clients and work with them to implement the marketing plan.
In addition to these technical skills, you will also need to be able to manage your business effectively. Managing a business involves setting fees, marketing your services to potential clients, and managing your finances.
Overall, a marketing consulting business can be a rewarding and challenging career for those passionate about helping businesses succeed through effective marketing strategies.
How much you can make: $1,000 — $3,100,000/month
How much does it cost to start: $1,500 (?)
How long does it take to build: 30 days (?)
A successful podcast production company that grew from one client making $15/hour to a team of 10 contractors producing over 30 shows per week with revenue of over $10k/mo, primarily through referrals and with a focus on providing high personal touch and being picky about working only with clients who are a good fit.
17. Start an online community
An online community can be a great fit for musicians who want to create a space for like-minded individuals to connect and engage. By building a loyal community, you can monetize your platform with sponsorships or advertising and generate a passive income stream.
Online communities bring people who share common values together. For anyone looking to start a side hustle and earn money, you need to figure out the best online communities to participate. More important, you need to figure out on how to translate your online community membership into dollars. Ideas of how to earn through online communities include:
- Selling your products
- Promoting affiliate links for a commission
- Run ads
- Sell online community membership
- Start your own online community and charge for sponsored content
How much you can make: $1,500 — $1,816,666/month
How much does it cost to start: $750 (?)
How long does it take to build: 60 days (?)
Time commitment per week: Min. 4 hours/week
VC-turned-entrepreneur Phil Strazzulla, who previously built a successful b2b SaaS business, shares how he bootstrapped an online review site for HR software into a viable business with over $1k monthly revenues in just 3 months through organic search traffic growth and selling high intent leads.
18. Start a cannabis business
A cannabis business can be a great fit for musicians who are interested in the cannabis industry. By creating and selling your own cannabis products, or by managing a team of cannabis experts and handling client communications, you can generate passive income while contributing to the growing legal cannabis market.
Have you ever thought of starting your own cannabis business?
The cannabis industry has been continuously growing throughout the years. The legal marijuana sales are projected to reach $22 billion by 2022.
No matter your level of experience, the cannabis industry has a lot to offer. There are inspiring stories of entrepreneurs that made it big in this particular industry.
How much you can make: $2,500 — $3,100,000/month
How long does it take to build: 120 days (?)
Plain Jane, an online CBD company founded by two college roommates, offers unique products and has generated over $20K a month in sales within five months, attracting and retaining customers through social media, authentic stories, and content.
19. Start a shoe brand
A shoe brand can be a great fit for musicians who have a talent for fashion design. By creating a unique brand and leveraging social media, you can create a passive income stream that continues to generate revenue long after the products are created.
Starting a shoe business can be very lucrative - you can make money by selling shoes, but you can also make money by buying shoes and then reselling them at a higher price.
It's an industry that's been around for hundreds of years, so it's well-established and has plenty of room for growth—especially if you can get in at the ground level. It's also easy to start with minimal investment: even if you only have enough money for two months' worth of inventory, you can still get started right away.
How much you can make: $1,000 — $83,300,000/month
How long does it take to build: 455 days (?)
16-year-old entrepreneur founds KASA, an online luxury shoe and accessory boutique with over 270 luxury shoes in the collection, generating $80k in monthly profits and exploring expansion into lower-end shoes and custom shoes for the poor.
Frequently Asked Questions
Can you build passive income as a musician?
Yes, as a musician, you can build passive income through various ways, such as creating and selling music, licensing your music for commercial use, or creating a music course or e-book. You can also use your music expertise to build passive income through affiliate marketing, product reviews, or a niche blog or podcast.
How to make passive income as a musician?
To make passive income as a musician, you can create and sell music online or license your music for commercial use. You can also create an online music course or an e-book, or offer music lessons online. You can use your music expertise to create a niche blog or podcast or monetize your online presence with affiliate marketing and product reviews.
Is passive income for a musician truly passive?
It depends on the source of passive income. Some passive income sources, such as music licensing or streaming royalties, require ongoing maintenance and management. Other passive income sources, like creating and selling an online course, can be more passive once the initial work is done. However, all passive income sources require some upfront work to set up and establish a revenue stream.
Conclusion
Online passive income is an excellent option if you are a musician looking for ways to make some extra money. Several options are available; many can be started with little to no investment.
Do your research, find something that interests you, and get started! You may be surprised at how quickly those extra dollars start adding up. What have you got to lose?
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
