Building passive income for artists creates a path to greater financial stability and creative freedom. According to data from the U.S. Census Bureau, around 20% of American residents earn passive income, and for or artists, creating these income sources can help reduce their dependence on one-time sales.
These days, there are plenty of ways to set up passive income streams that need a bit of work upfront, but then continue earning over time. In this post, we’ll share some ideas for creating passive income as an artist and how you can get started.
What is Passive Income?
Passive income is money earned from activities that don’t need ongoing, active work. Unlike traditional income, where you trade hours for pay, passive income comes from an investment or platform that continues to generate money over time. To make money as an artist, this means income can keep flowing even when you’re not working on new projects.
What Types of Passive Income Can You Earn?
Passive income offers flexibility and can be structured in various ways based on your business model or investment strategy. For artists and creatives, this income doesn’t always have to come from traditional sales or active projects. Here’s a look at the main streams of income ideas to explore:
1. Within Your Business
Passive income can be integrated directly into your business by making use of skills, knowledge, or resources that generate revenue without regular work. For artists, this might mean selling digital products, offering online courses, or licensing their artwork. Once these products are created, they can be purchased or accessed by customers over and over again.
2. Separate Business Revenue
For a more diversified approach, passive income can come from a secondary business or investment, separate from the primary focus. For example, artists can invest in a business through peer-to-peer lending or act as silent partners in business projects (e.g., limited partnerships), earning returns without active participation.
3. Non-Business Related
Passive income doesn’t always have to be earned from a business activity. Non-business passive income includes financial investments, such as stock dividends, rental properties, or high-interest savings accounts. These methods allow people, like artists, to earn from their financial assets rather than from their skills or time.
Note on Taxes: Passive income regulations and taxes vary widely by country. Consulting with a tax professional ensures that you maximize your income potential within legal guidelines and understand any obligations related to your passive income sources.
Top 6 Passive Income Ideas for Artists
Making money as an artist can be helpful in turning your creativity into products, digital assets, or collaborations that result in earnings over time. Here are some top ideas of passive income for artists to check out:
1. Transform Original Artwork
Transform your existing art by turning illustrations into stickers to sell on platforms like Etsy or Spoonflower—an affordable, popular option for a wide audience. Additionally, license your work for greeting cards or digitize pieces as downloadable prints or design items, expanding your reach and creating passive income from completed projects.
2. Print on Demand (POD)
Platforms like Printify and Shopify offer a fantastic way to transform your designs into sellable products like t-shirts, mugs, and phone cases. Through these platforms, you can set up an online store on Shopify or Etsy and offer your artwork on a wide variety of items without direct inventory or shipping yourself.
Discover the best Etsy side hustles for 2024, ideal for artists looking to create passive income from their creativity.
3. Share Your Studio Space
If you have extra space in your studio, consider renting it out to other creatives or artists. Offering short-term rentals or flexible hourly rent gives you control over your space and schedule, allowing you to continue working on your projects while monetizing free time. Also, sharing space can bring in potential collaborators and expand your network.
4. Self-Publish on Amazon
With Amazon Kindle Direct Publishing (KDP), artists can create and sell physical books or digital downloads without inventory or upfront costs, making it ideal for notebooks, coloring books, and art journals. Upload cover designs or turn detailed illustrations into coloring pages using Procreate or Canva, creating passive income while expanding your brand’s reach.
With the rise of this form of passive income, courses like the FPA Workshop by Karla Marie have become popular, teaching creative people how to get started in the world of independent publishing using Amazon’s platform.
5. Insider Subscribers
Platforms like Patreon let artists connect directly with their audience through a subscription model, generating a regular and quick passive income by sharing exclusive content. Subscribers, or “insiders,” gain access to benefits such as behind-the-scenes looks, tutorials, or early access to new artwork.
6. Partner with Others Artists
Collaborating with brands that align with your artistic style can also be a steady income stream. Sponsored content, like product reviews or talking about tools you use, can be monetized on platforms like Instagram or YouTube. Many companies are ready to pay or give free art supplies in return for promotion, adding value to your artistic work.
What Are the Pros and Cons of Passive Income for Artists?
Passive income gives artists a flexible way to earn money, letting them focus more on their creative passions without depending only on active work or sales. While it offers freedom from traditional income sources, it also has its pros and cons to consider. Here are a few:
Pros of Passive Income as an Artist
- Saves time and energy: Allows income generation without continuous effort—ideal for artists with busy schedules or full-time commitments.
- Reduces financial stress: Helps reduce financial pressure by adding to primary income sources.
- Financial freedom: Offers flexibility in projects and reduces the dependence on immediate sales.
- Location flexibility: Most passive income streams are digital, allowing work from anywhere.
Cons of Passive Income as an Artist
- Needs initial patience and effort: Passive income often implies little setup work, and returns may take time to materialize.
- Initial financial investment: Some passive income options require an upfront investment in tools, materials, or time.
- Financial risk: Platform or production costs can add up, which may not suit every budget.
Turn Your Art into Income: Passive Earnings Made Easy
If you’re a creative person, you can earn money with art through side hustles for artists, gaining the freedom to focus on your work while achieving financial stability through diversified income streams. According to Luisa Zhou, the U.S. side hustle market is valued at over $2.58 trillion, reflecting the demand for alternative income across the country.
For artists, exploring options like print-on-demand, licensing, and digital products can transform their creative products into long-term income sources. While establishing these streams needs initial effort, the long-term benefits—like location flexibility and reduced financial stress—make it a valuable investment in a sustainable art career.
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Frequently Asked Questions (FAQs) About Passive Income for Artists
What is Passive Income for Artists?
Passive income for artists is a way of making money from artwork or valuable items without requiring constant, active involvement. Unlike income from single artwork sales or commissions, passive income typically comes from assets such as digital downloads, prints, or royalties that continue to generate revenue over time.
How Long Does it Take to Create a Passive Income Stream?
Most passive or residual income streams need an initial investment of time and possibly some money, depending on the method. For example, setting up a print-on-demand store may take only a few hours, while creating and marketing an online course could take weeks of planning.
What are the Best Print on Demand Platforms for Artists?
The best Print on Demand (POD) platforms for artists include Redbubble, Printify, Society6, and Etsy. These platforms allow artists to upload their designs, which can then be printed on a variety of products such as apparel, mugs, and phone cases. The POD offer handles production, shipping, and customer service, allowing artists to focus more on creating.
What Types of Art are Best for Licensing?
Licensing works well with designs that have wide appeal, like illustrations, photography, and patterns, and can be used on products like home decor, clothing, stationery, and tech accessories. For artists, licensing agreements can mean royalties every time a product with their artwork is sold.
Is Selling Digital Art Online Profitable?
Yes, selling digital art can be highly profitable, especially since digital downloads like coloring pages, wallpapers, and digital prints have no production costs beyond the initial creation. Platforms such as Etsy and Creative Market are popular for selling digital art, reaching a broad audience looking for downloadable artwork.
Photos via Unsplash.
