Generating predictable monthly income is the elusive holy grail for any musician or individual involved in music.

The music industry relies on a heavily freelance workforce, known as gig work. While it has many benefits, it has significant drawbacks.

Musicians, sound engineers, and touring crew, forego the benefits that conventional jobs offer such as paid salaries, retirement plans, paid holidays, health insurance, and job security. Musicians and other freelance workers are required to complete regular on-going work to achieve financial security.

The current situation the world finds itself in is more than enough motivation for musicians and producers to seek out new opportunities. With such a huge number of tours and music events having been cancelled, professional musicians relying on touring as a primary source of income have suffered immensely. Relying on a single revenue stream is a very risky business indeed.

The good news is that individuals working in the music industry can adapt to changing circumstances through diversification. The key is to learn how to utilize skills in new ways, through leveraging your talents. Let’s take a look at some of the top ways musicians can generate recurring revenue in music.