Nowadays, one of the best ways to make money out of music is by selling it online. Actually, for some musicians, this is the only viable way to make money out of their music. But the technicalities of selling music online can be complicated. It is a complex business. As you start thinking of selling your music online, you discover that there are many choices you will have to make.
Firstly, you have to make a decision on whether you will be setting up your own website to sell the music, or you will be using one of the existing (and well-established) music vending websites. Setting up your own website for the purpose of selling your music means that you may ultimately be able to make more money out of the music (per copy). This is because the people who sell their music through the established music vending websites often have to share their revenues with the owners of the websites. But then, you will discover that people (the fans) prefer to buy their music from the well established music vending websites (such as iTunes). On another note, if you opt to sell the music through your own website, you may find yourself having to recruit people to run the site – and possibly end up in a situation where the extra money you make selling the music directly goes into payment of salaries for those people.
Secondly, you have to make a decision on the format you will be selling the music in. Will you, for instance, be allowing the people who pay for the music to download it? Or will you be using the system where, upon making payments, the people are allowed to stream the music?
Thirdly, you have to make a decision on the manner in which you will be receiving payments for the music you sell online. You can opt to use a service like PayPal. You can also opt to be accepting credit card payments directly. Accepting credit card payments directly means that you will be able to sell your music to more people – because even folks who don’t have PayPal accounts will be able to buy the music. On the downside, you will have to deal with the complexities and delays that are associated with the logging in and processing of credit card payments.So you find that each alternative has its advantages and disadvantages.