Residual Income Sources from your Content Library
If you’re seeking a way to make extra passive income, then royalties from your content library are a good source. Royalties as a passive residual income idea truly deserved to be part of residual income sources because they can consistently bring in a stable monthly cash flow.
Income from royalties is not a “get rich quick” scheme, but they can make a steady passive income source and there is very little maintenance required once your content has been developed and posted. You can earn royalties from infographics, patents, artwork, photographs, icons and other intellectual property. In today’s world you can also purchase someone else’s royalties and earn a passive income from work that you did not personally develop.
How to get started
Everyone loves music of some sort, or beautiful images, or infographics. If you’re talented and are able to create a sought after form of art then having royalties as a residual income source is something that you should definitely be interested in. However if you are not creatively gifted then don’t despair, there are a number of ways that you can profit from royalties and include this stream in list of residual income sources.
The internet provides an unparalleled platform for all artists to showcase their work. Music and image ownership for instance is governed by rights of ownership or royalties. This means as an artist you can earn passive income from the music or photographs that you post online. There are a number of different sites that will display your content but be aware of their terms of commission and business models that may actually be detrimental to your income earning capacity. It is important to research each of the sites terms in your creative category and the fine print before you can consider it a residual income source option.
There are royalty auction sites such as www.royaltyexchange.com where you can place your royalties on an auction platform and let bidders buy them. To benefit from royalty auction sites, you only need to set up an account and avail information on the earnings of the music for the past one year. It is important to note that bidders will always want to purchase royalties with a long history of passive income.
If you want to purchase music royalties as an investment strategy then you must beware of copyright material. Also the time of the music creation matters a lot because music created prior to 1972 may not earn you a lifetime of royalties. If indeed royalties is featured in your strategy for residual income sources then you must be extremely clinical in your decision making before making you purchase.
For passionate and talented photographers there are many online sites where you can sell the photos in your library. Sites like www.Alamy.com can give you up to a 60% royalty fee. You can also showcase your work on sites like iStock Photo, Folotia, PhotoSheleter and Can Stock Photo which have equally high royalty commission structures.
Photo royalties can still be an option for your residual income sources without a desktop or laptop computer. If you have a smartphone you can use apps like Foap, where there is a market for grading and trading photos. The best news about trading your photos on online apps is that they can earn you money several times over because the photo remains in the market even after several purchases.
What’s the secret to succeeding with royalty sales?
Generating and income from royalties from your content library is not a get rich quick scheme, but like any other business, with time and commitment you will be able to generate a monthly passive income source.
What other residual income sources are there?
There are numerous passive income sources that are available to you to start earning a passive income today with limited time and financial investment. If you are interested in learning about alternative residual income sources then have a look at this site www.passiveresidualincomefreedom.com