Monetizing Music Libraries for Indie Artists.
Music that has been created with the purpose of usage in other media, such as radio, video, television, or even in other people’s compositions, after licensing, is called stock music. Different forms of stock music are construction and sample packs for music production, sound effects wherever required, music piece, loops, jingles etc. I have discussed this in detail in my blog Music Libraries for Indie Artists. Stock music is different from custom sync. As the name suggests, custom sync is individually crafted piece of custom-made music. The publisher puts in constant effort to cater to the client’s needs in a custom sync deal. However, stock music is created in large catalogues and client browses through these catalogues in online libraries to find what he requires.
All indie artists and bands can use these online stores and libraries exclusively or non-exclusively to license out their music for clients to find. You will be required to give an exclusive licence or full copyright ownership of your work to a library, for which they will pay you a flat fee as a buyout royalty. Exclusive libraries have a higher pay-rate for royalties as compared to non-exclusive ones. They do a full buyout for ‘work for hire’ music. As mentioned in my blog Custom Sync Royalty for Indie Artists, sometimes a client demands certain kind of music that is tailor-made for a specific requirement. A good publisher is often able to get this kind of assignment for you, from a sync agent. In the initial stages of your career, you may also be ‘hired’ to make this kind of music, which is called ‘work for hire’, however, in this case, the copyrights will be owned by the employer. The royalties earned from custom synch are as lucrative as traditional synchs. They can be a source of big money.
In ‘work for hire’ case, the libraries will give a flat fee to the copyright owner, re-brand the sample pack that they receive to make it their own and then put it on a store. The non-exclusive libraries rarely offer flat fee buyouts.
The rise of internet has made the stock music world blossom to offer many opportunities to indie artists. Both consumers and creators can easily access thousands of libraries offering sound effects, sample packs, jingles etc. The supply is never-ending, as the making of stock music is easy and most indie artists are able to do it. This implies that if you are looking at making some extra money, the option is worth investigating. However, it is important to be careful and not get caught up in the flood of material. The key is to be selective about the music you supply and the libraries you work with.
If you want to maximize income from online music libraries, do not exclusively with a library. Select a few libraries with curated and oversee-able catalogues of high quality, and sell your work there. Sounds that are high in demand are good to be focussed on while creating music, or choose something that is deep within a specific niche.
As mentioned before, this article was intended to be a part of a larger article about all possible income streams for musicians. I will follow up with a new article about alternative income streams soon, to discuss other ways to make money from your musical talents. If you have been following my previous articles on music copyrights and royalties, by now you should have a good understanding of the fundamentals. It might be wise to re-read those articles, or bookmark them to grab back whenever you encounter a subject that I have written about.
A visualization of the flow and dynamics of music copyright, licenses and royalties has been drawn in these articles. I hope you are able to decipher it based on what we have shared. Do dive deeper into other subjects through the links that I have provided in this article.
If you need help in creating and maintaining a website, HyperEffects can help you connect with your target audience efficiently. HyperEffects is one stop for your website, marketing and cyber development requirements. It helps you to create a website to display your talent or sell your indie music or indie art.
