Ways to make money are Streams, Ticket Sales, Merch Sales, Syncs, and Brand Partnerships. Below are some key thoughts:
Streams and Ticket Sales
Gone are the days of touring to build your audience. Up and coming artists have gone on tour with larger artists, only to see their numbers grow incrementally and lose money overall. If too much effort is focused on the live scene, you will be drowned out by the pace at which the competition grows globally online.
No doubt, selling tickets is where most of the profit will come from in the end. DATW has been extremely patient, as performing is their favorite thing to do. However, it’s important there are significant data in streaming and social media numbers to plan a profitable tour. Successful acts like Oh Wonder never performed until their first sold out show after releasing 1 single a month for about a year.
This is why the budget is so focused on digital marketing, as a hit single will inevitably push the band into touring. Though the duo has only played a handful of small shows, there’s been lines to take pictures with Dana and get her autograph by newly converted fans.
As DATW’s fanbase grows online, so will the opportunities to collaborate with brands. According to Influencermarketinghub.com, DATW could make between $85-141 per post on Instagram because of their high engagement of 12.96%. With the duo on the verge of hitting 10K followers there, they will have access to the “swipe up” feature which will be key in working with brands. Not to mention, as the follower count goes up, so does the price per post.
Then, the creative opportunities between DATW, Vero, and other brands will be endless. There is a fine act to balance though, as you do not want to seem too “pitchy” or “sell out” to your fans. The same goes with telling people to “Join Vero Now!” or “Vero is the best platform ever!” The best artists are able to do this more subtly.