**Guest post written by Bandzoogle.com.

 

"One of the biggest challenges facing musicians is generating income. Although sales of recorded music have dropped significantly, there are many new sources of income available to musicians.

 

Bandzoogle have put together a free eBook called “23 Ways Musicians Can Make Money” (download it here) to help musicians and bands find ways to generate more money for their careers.

+How to Make Money in the Music Biz

 

Here’s an excerpt from the eBook that explains the importance of collecting and owning data:

 

 

Data: The New Currency for Musicians

"If you own the data, the money will always follow."

- Derek Webb (Artist/Founder of NoiseTrade)

 

While there are many revenue streams outlined in “23 Ways Musicians Can Make Money”, there is a new kind of currency in the music industry that you should pay attention to: data.

 

Access to data, and ownership of that data, should be a top priority in your career.

 

What is data? Data gives you insight into who your fans are, where they live, and what content they’re consuming. Things like:

 

• Where are your website visitors from?

• What site(s) brought them there?

• Where do your mailing list members live?

• Which of your songs are being streamed/downloaded the most?

• Where are those streams/downloads happening?

• What types of merch are selling best for you?

 

And much more. Data can help you choose which song to release a video for, where you should tour, and what merchandise to sell.

 

How do you get access to this kind of data? Facebook, Twitter, and YouTube offer data to give you insight into your fans on those platforms. Even music streaming services like Pandora and Spotify have opened up data to musicians.

+How to sign up for Pandora AMP

+Spotify or Physical CDs: What's better for the music creators?

 

But, you don’t own the data on those platforms. While you should definitely make use of it, any service can change that access, or take it away.

 

So what’s the best way to own your data? With the two most essential tools for marketing your music: your website and your email list.

---

 

 

To read more, download the eBook FREE

 

Here’s what else you’ll find in the eBook:

 

• 23 ideas for generating revenue for your career

• Resources and expert tips for each revenue stream

• Musician tools and services to help you make more money

• Eye-opening statistics on the most important marketing tool for musicians

 

It’s a quick read, has a ton of great tips and resources, and will no doubt help spark some ideas for how to make more money for your career!"

 

 

 

Related Blog Posts:

+Earning Royalties For Your Music

+How to Make a LIving Playing Music

+The Ultimate Guide to Selling Band Merch Online