3 New Strategies To Monetize Music: YouTube Contests, Monkeybars Market, Pivotshare Subs
Monetizing music and music videos is a constant struggle for independent artists. But three new strategies offer possible solutions: combining use of YouTube's sync licensing with a video contest, Monkeybars' social marketplace that shares the wealth with artists and fans, and Pivotshare's rev share-based service for paid subscriptions to audio and video content.
Increase Ad Revenue With Fan-Made Music Videos
CD Baby is promoting its YouTube sync licensing options with a smart post on hosting fan video contests to increase use of your music. Chris R. also suggests posting your songs with simple graphics in order to monetize YouTube streaming.
Monkeybars Pays Content Creators & Fans
Monkeybars is an attempt to create a social marketplace for such content as music, films, books and art. Currently they seem to be promoting the concept, a free marketplace where everyone gets paid for their participation and influence, rather than the content. I didn't really know what to expect until after I'd set up an initial account.
The idea is that content creators post content to sell, participants buy content and share that news via other social networks receiving "royalties" when their links lead to a sale. At the end of the day it's a social marketplace with an affiliate program which will sink or swim based on the quality of both content and social interactions.
Pivotshare Builds Platform for Media Subs & Pay Per View
Pivotshare offers a media-sharing community with options for revenue generation via paid subscriptions and pay per view content. There is no upfront fee and Pivotshare receives a rev share.
Monetizing Networks & Communities
All three of the above possiblities require community building strength on the part of artists. Leveraging services such as YouTube sync licensing allows you to build on relatively open networks. Services like Monkeybars and Pivotshare have great potential but will require artists to encourage use for them to reach critical mass.
Hypebot Features Writer Clyde Smith maintains his freelance writing hub at Flux Research and music industry resources at Music Biz Blogs. To suggest topics for Hypebot, contact: clyde(at)fluxresearch(dot)com.