As an independent artist in Africa, it may be tough to create ways to monetize your music and depend on your music as your sole source of income due to the uneven music market. But if you love making music, then it’s definitely one of the most fulfilling ways to earn a living. It may be your full-time job or a lucrative side-gig, the goal is to sell music in a lucrative way and make money while doing what you love.

Although selling your music doesn’t come with any guarantees, what if there’s no money there? A lot of musicians, African artists especially, see this step as taking too much risk and eventually back off. But instead why not manage the risk? Why not create ways to monetize your music?

How do you manage the risk? Or in fact, eliminate them altogether? Making money from music generally isn’t easy, but it’s not entirely impossible if you know the ways to monetize your music. By diversifying into automated revenue streams during COVID, musicians were able to reduce risk and break the barrier, thereby taking a chance at their dream careers.

Statistica shows that revenues from streaming services rose up to 20% in 2019 totaling $8.8 billion, accounting for 79.5% of all recorded music revenues. Music streaming is anticipated to grow in Africa to $493 million by 2025 with Nigeria’s music streaming alone valued currently at $40 million and is projected to increase by 10% by 2023.

This data shows the gap between the income African music creators make compared to the global counterpart, but still indicates the growth within the African music business. Hence, the reason why every independent artist, including you, has to take advantage of this growth and create ways to monetize your music. 

In this article, I’ll be sharing with you reliable ways to monetize your music and begin making an income from it.

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