10 Best Passive Income Ideas For Artists In 2024
Discover These Passive Income Ideas For Artists Wanting To Make Extra Money This Year
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Every artist needs some way of financially supporting themselves. But with it being notoriously difficult to make money from your art alone – many creatives pick up side hustles that help support their career. However, this usually takes up a lot of time that would be better spent on making. This is where it can help to have a few passive income ideas for artists.
Passive income can help erase those financial worries whilst working on art and waiting for the next payday. Artists usually work on projects for long periods, making it challenging for them to plan their finances in between projects. These passive income ideas for artists are a good way to start removing the worry.
What are passive income ideas for artists?
Simply put, passive income is money earned with little time and effort. This usually entails taking previously created art and finding new ways to market and sell it. Consider it the artist’s equivalent of owning a rental property, with your major investment occurring at the outset and your profit accruing gradually and steadily over time.
There are many passive income ideas for artists; each with their individual benefits. Finding the right path for you and your practice will be key to success and longevity.
Passive Income Ideas For Artists
Licensing
You can licence your artistic creations such as photographs, logos, graphics, and paintings. In licensing, you give a company the right to use your creation for certain purposes. You are then compensated every time they make a sale out of products with your artwork on them. Read the licence agreement carefully to ensure that you are in complete control of how your art is going to be used and the quality of products your artwork is going to be on.
Tiktok
Musicians, visual artists, writers, and performance artists can use Tiktok for brand awareness and to connect with new fans. The platform is highly interactive, with an algorithm that is easy to tap into. The chances of earning engagement are quite a bit higher on this app – making your reach potentially wider.
Take the time to plan your content and make sure that you create a consistent identity on the platform. This way, the algorithm puts your content in a category that connects with your target audience. If successful enough – your TikTok will start earning you extra income, either from views or sales that you’ve gathered through marketing.
Another platform that has been helpful to artists in recent years is Instagram. It is quickly becoming the most popular social media platform for artists and art enthusiasts. The good news, especially for beginner artists, is that you don’t have to wait until you reach the top of the ladder to call the shots.
To be successful on this platform, take the time to curate your content and post high-quality images with clean backgrounds, write creative captions, and create an attractive bio for your page. Your success greatly depends on how engaged your followers are and how in demand your art is.
e-Commerce website
Another great way to earn passive income is to launch an e-Commerce store. E-commerce platforms like Shopify and Etsy make it easy for sellers to showcase their products, in this case, your art.
Once you’ve established your e-Commerce shop, make the link visible and accessible on all your social media accounts so that fans and supporters can easily browse through your catalogue and purchase your work. This type of income will mostly happen in the background, but just be sure to stay on top of shipping and marketing in order to be successful.
Print-on-demand
Putting your artwork on products like T-shirts, mugs, and bags is a great passive income idea for artists and designers alike. Expect to do some work upfront, but after that, you can sit back and wait for your business to generate revenue.
You can easily get this started by collaborating with print-on-demand companies, who will host your creations on their site and handle the shipping. If you’re interested in selling your art but are put off by the work that it entails; print-on-demand could be for you.
Art classes
Whether online or face-to-face, there are plenty of opportunities to teach art. If you’re looking for passive income ideas in particular, then online courses is the way to go. Not only can you reach a larger audience by teaching art online, but it also doesn’t require the class to be taught over and over again.
Once you’ve filmed the lesson and uploaded it to sites like Skillshare – people can access it whenever they need. This is a particularly good passive income idea for digital artists, especially if they use complex software and programs. However, any artist with valuable skills to share can set up art courses.
Affiliate marketing
Affiliate marketing involves providing affiliate links to products that you can recommend to your target audience. When someone clicks on the affiliate link and purchases something, you get a small cut in the form of a commission.
Take note that these programs require you to have a large number of social media followers or an excellent method of promoting products. Amazon stands out as the most dependable affiliate program and an excellent platform for artists just starting to earn passive income.
Subscription services
If your social media accounts have a good presence and a large following, then a subscription might be another great passive income idea as an artist. Grant your subscribers access to things like exclusive work previews and new videos through subscription based sites like Patron.
Once you’ve established your membership programme, spread the word on social media and begin earning money as an artist. Like most passive income art ideas, this does require some initial work and upkeep – but it shouldn’t be too difficult to integrate it into your existing tasks and jobs. Do your research to find the best subscription service for you and start brainstorming what you can offer.
eBooks
One of the best ways to earn passive income is to compile your knowledge, expertise, experience, and techniques into an eBook. You can then sell the eBook and generate money from people interested in learning your trade. You can publish your book on platforms like Amazon or through your website and advertise it using your social media channels.
Don’t worry about upfront publishing costs as your books will only be available in PDF format. Depending on your area of expertise, you may need to hire a copywriter and a graphic designer to help you put everything together, but ultimately, an eBook is something anyone can create if they want to.
Leasing
After finishing your artwork, it might take a while before you can sell it. During these periods, you might want to consider leasing your artwork while waiting for a buyer. Leasing your art is similar to renting any other product or service. You have the option of leasing your artwork through an art leasing company or doing it yourself.
Renting out your art to a paying party for a set period also creates a new marketing opportunity for your work, while it also widens your network. Businesses can rent out your artwork for public display. Individuals and businesses who rent your work may also refer you to friends in the industry, increasing your leasing potential.
Final thoughts on passive income ideas for artists
Diversifying and looking for additional income streams can be a great way to be financially afloat between projects. Not having to worry about money matters can free up mental space, giving you more room for creativity, as well as well-deserved rest.
Different income streams not only ensure that you are always earning, but they also make any job more interesting and less stressful. Passive income allows you to take calculated risks. If you are trying something new in your career or going through a slump, passive income can help you stay motivated.
WHAT PASSIVE INCOME IDEAS FOR ARTISTS DO YOU KNOW OF? LET US KNOW IN THE COMMENTS BELOW.
Don’t forget you can always share your art with us! Submit to one of our open calls or tag us on Instagram @darkyellowdot.
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