Residual income, also known as passive income, can potentially be a great way for artists and other creatives to earn money. This type of income allows people to complete a “one-shot task” and earn money after the task is completed for an indefinite amount of time. This method of earning an income is perfect for those who like to consistently create any kind of content online or in person.
But what types of jobs yield residual income? Here is a guide to different ways artists and creatives can start earning residual income.
If you are able to write, shoot, and edit videos to be distributed online by yourself or with a team. It is possible to produce videos to earn a steady income. Some producers are able to make a commission for marketing a certain product for another company and earn money from production work every time an ad is watched, such as this Austin video production team.
YouTube, of course, is also a popular way to create money making videos. YouTube hosts a wide variety of different videos, from makeup tutorials to video game walkthroughs, to vlogs. Anyone can make any kind of content on this website. In time, you can earn money this way from views on your videos, or from allowing YouTube to place ads on your videos.
Work your way towards making popular movies, which can also yield large income opportunities. If you submit your film anywhere outside of online websites like in film festivals. It is possible that your film could be distributed to movie theaters regionally, or even nationally. It can also appear on streaming sites. The chances of getting rich and famous from the film are slim, but with any other art form, hard work, dedication, and passion could really pay off.
For artists interested in literary pursuits, publishing a book is a great way to earn royalties as passive income. Once a book is published, you continue to make money based on each book sale in all of the stores where the book happens to be sold.
With the rise of the internet, there is also the option to publish eBooks, rather than physical copies. The advantage of this is that your eBook is able to be published anywhere, making buying your book more convenient and therefore, possibly making your eBook more popular than any physical version. You can even publish your eBook on your own website to increase its traffic and begin earning money.
Similarly to writing books, musicians can earn royalties by selling their own music. Though music can be purchased physically, streaming sites also allow for royalties to be made every time your song is played or downloaded.
Podcasts are easy to begin, as all you need is a good conversation and a decent mic. That’s why many people are starting their own podcast and trying to get their work on a streaming service. Each episode of your podcast can be streamed and downloaded as well, thus giving you residual income for each episode you record.
Selling your photography to different websites, including stock photo websites, can also yield more gradual income. Each shot can be sold to a website, which will then give you profit for each time a photograph is sold. Once you sell your photograph to a website, the business dealings are out of your hands, making it a very easy process once you get started.
Put Your Creativity to Work!
Though being an artist is often categorized as a career that isn’t very financially sound, earning residual income can help artists maintain a steady income. Like with anything, keeping up with your art and constantly honing your craft is a must.
Continuing to be persistent with publishing your work online or selling it in stores is the key to making a lot of money easily. So go for it!