How do recording studios make money?
To create a perfect music product, recording is very important. Understanding this, recording studios have invested in facilities and training audio engineers. Therefore, they can make a lot of money from supporting artists to create high-quality soundtracks.
Besides, there are other ways to make money from a recording studio. Let’s check out together.
16 Different methods to make money with a recording studio
Tracking is the most basic way to make a profit from your recording studio. All you have to do is setting up the mics or connecting the instruments through a DI. The artists will come to record what they create.
In this way, you can earn about $100 per hour. The charge can vary depending on the quality of your studio’s equipment.
#2. Offer mixing and mastering service
If you have mixing and mastering skill, you can make more money than just tracking. You can do the tracking and mixing at the same time.
Every artist needs to master their tracks, so you can offer this service and charge them more money.
#3. Audio editing service
When you are mixing, you are also editing the records. So, you can charge your clients more for this service.
Besides, you can edit radio shows, commercials, or podcasts. This can help you earn additional income.
#4. Pre-production and demos
Showing your products is an effective way to attract artists to come to rent your studio. You can introduce your pre-production to artists and create an awesome demo that they can use.
With a good demo, you can charge them at least $1000. Then, when they want to create their full album, they will likely come back to your recording studio.
#5. Make and sell your beats and backing tracks
Maybe not every recording studio owner thinks about making beats and backing tracks. But there is a huge demand for beats and backing tracks from singers and rappers. So, when you have free time, you can create these products and sell them.
#6. Promote your music on Youtube and Spotify
Currently, people mainly enjoy music through Youtube and Spotify. Thus, you can upload your music on these platforms. In this way, you can earn 2 sources of money.
First, this is a free method to advertise your production to artists who are looking for a music producer. They can buy your beats or come to your studio to cooperate.
Second, Youtube or Spotify will pay you ad revenue depending on the number of views or streams.
On Youtube, for every 1000 views, you can make about $3-$5. Spotify will pay you $0.006-$0.008 per stream.
#7. Create music for video games
Creating music for video games is another way to make money from your recording studio. Video games now are more and more popular.
So, video game companies are always looking for music producers for their games. You should take this great opportunity to make money.
#8. Create music for and movies and TV shows
Working as the music producer for movies and TV shows can also bring you money. With your recording studio, you can make complete soundtracks for movies and TV shows.
Netflix, Hulu, Amazon Prime, and other streaming services always have new contents that need music. This is an opportunity for making a profit from your studio.
#9. Rehearsal place for rent
When you don’t use your recording studio for tracking, you can turn it into a rehearsal place. Many artists will need to rehearse before they record their albums.
You may think that it’s a waste. Because you have invested a lot of time and money to set up your studio. But this is a way to make your studio busy and earn more money as well.
#10. Rent out the studio equipment
Investing in high-quality studio equipment is never a loss. In addition to tracking time, you can rent your equipment out to anyone who needs them.
Sometimes you may afraid that your expensive one can get damaged when renting them out. So, you can also prepare a set of equipment for rent. This also helps you earn a lot of money.
You can make a podcast to create money. But this requires time and your pretty commitment. It will take quite a long to attract enough people listening to your podcast to earn money.
But during this time, some companies may pay attention to your podcast. They will pay to advertise their products on the podcast.
So, you can earn money easily by podcasting. You just need basic recording equipment and some editing skills.
#12. Offer classes and courses
When you have enough knowledge and experience in recording, you can offer courses and classes. If you are a musician, you can teach others to play instruments or music.
You can also offer courses on mixing and mastering, or how to select and position mics. Besides, you can package up these courses and sell them as DVDs or digital downloads.
#13. Sell photography
This may sound unbelievable, but your studio can create money by selling photography.
Many sites like Shutterstock or Getty Images will pay for your studio photography.
Besides, many bands and artists need high-quality photos for their album artwork or social media profiles. Thus, with a good camera, you can take photos for your clients in the recording studios.
#14. Turn your recording studio into a video studio
A video studio can use much equipment of a recording studio. So, you can double your recording studio as a video studio for different projects.
Moreover, you can create your videos and sell them to other content creators. Promoting them on Youtube is also a good idea to earn money.
Currently, EDM (Electronic Dance Music) is more and more popular. This is also a good chance for you to make money with your studio.
You can remix songs for EDM artists or rock bands. If you don’t specialize in EDM, you can learn from a professional engineer.
#16. Offer live sound and lighting services
With a recording studio, you can offer live sound and lighting services to local festivals and bands. You may have to invest in a P.A system, but it will pay for itself soon.
You can earn a lot of money from live sound and lighting service gigs. This is also a good way to promote your name and experience.
While few recording studios are offering these services, you should take this chance. It will make you a good deal of side income.
Besides, through these live gigs, you can connect with musicians and others in the music industry. They can also make your reputation pick up quickly.
Tips to set up a recording studio
1. Prepare the space and equipment
To set up a recording studio, you will need to do some preparation. Below is a list of absolute essentials for a studio.
First, you will need a large room to set up the equipment. Then, clear off the floor and all the walls. After that, make all the walls soundproofed and add acoustic treatment.
- A computer or laptop
The computer or laptop needs to have proper specifications for audio production. It is better to buy a new computer with plenty of memory and with a good processor.
A digital audio workspace (DAW): There is DAW software with different prices. You can use free DAW software if you only do some simple productions or edits. If you intend to produce or editing music, you should buy industry-standard software.
- An audio interface
This device will allow you to plug the necessary equipment into the computer. Make sure that you have plenty of cables to hook up everything you’ll need.
- A good-quality microphone
The microphone plays an important role in your recording studio. A good microphone will make good recordings. So, it’s necessary to invest in a high-quality one.
- A MIDI keyboard or MIDI controller
This is an ideal device to write lots of music without spending a lot of money. Depending on the DAW software you use, choose a suitable MIDI keyboard or MIDI controller.
- A high-quality set of monitor speakers and headphones
Don’t skim out when buying monitor speakers and headphones. They are not less important than the microphone.
So, you should buy high-quality ones. Good speakers and good headphones will make great mixing and recording.
2. Knowledge and experience
A recording studio, of course, can’t lack well-trained audio engineers. If you don’t have knowledge and experience, the simplest way is to hire a professional.
But you can also learn and gain experiences yourself.
There are many courses available both online and offline. Having enough knowledge and experience will help you make money with your studio.
Above are some methods you can use to make money with your recording studio. There are many other monetization opportunities, and you just need to explore and develop them.
We hope that with the provided information, you can earn a decent income with your studio.