How to make money as a DJ Entrepreneur
How to make money as a DJ Entrepreneur
The DJ scene is growing and electronic music is now a major industry worldwide. There is now a whole ecosystem of music businesses and many opportunities for career progression and DJ entrepreneurship. DJs have always been forward-thinking businesses people, often running multiple events, labels and businesses. Digitalisation of music and the internet have created a need for new business models to be created. Will you step up and become and industry leader? If you want to create your dream DJ lifestyle the time is now!
Key Growth Points In The Electronic Music Industry
Click here to view the full report from the International Music Summit For The Year 2018 (the report for 2019 has been cancelled due to COVID-19)
Global Recording Revenue Grew 9.7%
Digital Revenue Grew 21%
1.5 Billion People Worldwide are Listening to Electronic Dance Music
Even More Listen to Pop and Rock Music
The Electronic Music Industry is working closely with the growing Gaming Industry
More People than ever are attending Live Music Festivals
Now is the time to become an Electronic Music Entrepreneur
It is clear that now is a great time to be involved in electronic music. The digital revolution that ravaged the music industry in the early 2000's with the rise of the iPod and internet downloads has now subsided. After the bloodbath where many traditional music sellers and businesses folded, many new ventures were launched and continue to be founded. Are you ready to join a new generation of electronic music entrepreneurs?
What Skills Do You Need To Make Money As A DJ Entrepreneur?
Being a DJ entrepreneur within the music industry goes beyond the normal DJ skill-set. As an entrepreneur you need create new ways of working, thinking and doing. You have to be able to balance risk and invent new business models. Do you have the vital skills to become a successful DJ entrepreneur?
You have to have ambition, dreams, ideas and then act upon them.
Your drive and determination will help make your dreams a reality. A dream without a plan is a delusion!
To carry out a plan from its initial conception to its full realisation takes time and discipline. You need to stick to your goals and be consistent. Treat your new venture as a full time job.
If your idea is to grow you will need to lead a team of people to help it prosper. You can't do everything on your own and some people will have better skills in certain areas so learn how to delegate.
A true entrepreneur is someone who thinks outside the box. You need to think of new forms of business that have not already been done before. Invent a new niche or demand.
As a business you are in competition with many other entities. Strategic thinking will help you compete but also help you plan for growth.
Early Technology Adoption
One of the keys to success in the digital age is adopting new technology before anyone else. New technology is the the number one growth area for new businesses right now, hunt it down and adopt it!
What Careers Are There In Electronic Dance Music?
There are many jobs in the DJ industry and the electronic music industry. We've already written a useful blog on the main jobs out there including all the traditional jobs associated with the DJ industry. Please visit our previous blog (link below) to learn the basics first, including all these types of job:
Radio DJ, Mobile DJ, Club DJ, Producer DJ, International DJ, Promoters, Label Owner, Producers, Engineers , Tour Managers, Artist Managers, A & R's, Music PRs, Booking Agent, Music Publisher, Music PR / Plugger & DJ Photographers or Videographers. Click here to read all about these common jobs DJs pursue.
But if you want to become a true DJ entrepreneur you need to think outside of the box, or even reinvent the box! Here are some other ways to make money as a DJ.
Future Careers In Electronic Music
Now you know a bit about the usual jobs in the DJ industry you should look to the future to predict what is on the horizon!
Live Streaming has been a huge trend for DJing ever since Boiler Room first dominated YouTube with their DJ sets. When Facebook and Instagram then allowed people to livestream the idea gained traction in the wider public domain. During the COVID-19 pandemic live-streaming DJ sets become one of the biggest trends and DJ equipment was sold out in all major online shops! There is now a bigger audience for live streaming and many entrepreneurs are now creating their own platforms to live stream DJs, events, conferences and more! What would you live stream and how would you monetize it?
You've heard on content creators, they've been creating content and building fan-bases on platforms like Youtube for a long time. Now, many years down the line the internet is flooded with content, and most of it is mediocre at best or outdated. The next opportunity is for content curators to organise the chaos, select and distribute the best content for their niche and clientele.
DJ and Electronic Music Apps
Apps have been around for a while but the market has slowly been expanding. As people move away from using tablets and laptops and towards smart-phones there is a need for Apps to make processes easier. For example a recent start up App called SendMusic is a great initiate, a simple need satisfied! Find a demand you can supply!
Sample & Plugin Creators
With the DJ and Producer market growing and more and more people finding a passion in electronic dance music there is a growing demand for software tools that help people achieve their dreams! It's a busy market place but there is always a need for the next new sound. Why not create your own sample packs or even plugins to use with popular DAWs? The great thing about these digital business models is that they are easily scaleable with very little overheads.
Boutique Hardware Manufactures
DJ and production hardware admiration is only going to grow. The fetishisation of synthesisers is a key trend. New brands are appearing offering niche products for select audiences. If you are an inventor why not create a high-quality product to sell in the growing hardware market.
Music Industry Related Products
Electronic music is a lifestyle and thus it has developed its own style. Homeware and decor for the music audiophile! Etsy is already flooded with amazing products designed specifically for this market, but it is a growing market and there is still time to join in. Why not create the ultimate DJ booth or record storage solution?
A huge trend in new businesses has been subscription products. The kind that your sign up for and receive in the post. A whole new branch of the record industry has been created sending out curated sets of vinyl records by mail to avid listeners and collectors. Is there a music related product that you think people would collect at home? Click here for the best eight subscription services!
Electronic Music Exhibitions
Digital art exhibitions have been a huge trend recently. They are very profitable because visitors love to visit interactive exhibitions and many of the worlds tourist attractions are exhibition based. The Instagram generation also love to visit places in the real world and get a selfie next to something creative or arty to show their fans how involved they are in certain cultures. Electronic music culture is a hot topic and there have been many highly successful exhibitions including films, artefacts and seminars. Another advantage is that if the exhibition is digital based only, it can be shown in multiple sites at any one time, it's like having copies of the Mona Lisa!
Virtual Events & Conferences
During lockdown virtual events really took hold. Virtual festivals were live streamed, virtual music conferences held and music industry summits, panels and group discussions! There is now a real thirst for new content that upcoming DJs and Producers will find valuable. How can you curate a program that will help elevate other people in the industry?
There is also virtual reality. Entire worlds that exist within the internet like Secondlife and Minecraft. It's not new, but the idea is still here and perhaps DJ sets and clubs in virtual worlds will finally take off. One to watch out for!
Another big trend in phone Apps right now is augmented reality, a cross between your cameras view of the world and a digital display. There is real excitement for this technology and it's so new that hardly anyone has exploited its potential. Can you think of an augmented reality app that will change the music industry?
Voices of Authority
This one is not new, one of the best ways to establish yourself in any industry is to become a voice of authority. This means someone who commands great knowledge of a culture of subject and is a destination in themselves for information. This could also be described as a guest at a conference, a singular person or an online magazine or blog that curates information like Resident Advisor. If you work towards holding a position as a recognised source of good information you will have the best networking opportunities and most likely get public speaking work that ties in the rise in virtual music conferences.
Facebook groups have been a fundamental tool for the electronic music industry in the last decade. However they do have their downside. Facebooks algorithms have been eroding interactivity in favour of pushing organisers towards paid content. This really undermines the usefulness of Facebook groups and we can only imagine that their effectiveness will continue to decline. Creators are now looking toward more liberal platforms or creating their own community-based apps where they are in control of the timeline. Perhaps an exclusive community for your niche will bring your scene forward.
The Best Place To Start Is Behind The Decks!
If you would like to learn how to DJ and produce and get a foot-hold in the music industry consider our 1-2-1 courses. We are accredited by London Sound Academy and offer a wide range of both DJ and production courses. The best way to start in the industry is to learn how to DJ on our Beginner DJ Course and then work your way through production and into the clubs! Many of these jobs and career paths start behind the decks! Click here to contact us for more information.