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What is the Best Way to Release Music for Profit in Late 2022?
The discussion title says it all. I know there are other threads about this very topic, but I'm looking for some advice. Would Bandcamp be best? Distrokid? CD Baby? Or something else I haven't considered/known about? 
I have a new EDM single called "Sakura" I'd love to release and make a little profit off of. My realistic expectations are I won't make much money, but I'd love to make a little bit. Please let me know which is the best avenue to take. Thanks in advance.
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Unless you have a large audience then the only way to make "profit" would be to release on Bandcamp, since there are no setup fees and you can sell your music directly. So it's no cost of entry and Bandcamp will take a small chunk of each sale.
Selling via CDBaby or Distrokid obviously involves more upfront costs, and if you are releasing onto streaming platforms then each time your song is played it will generate a tiny bit of revenue (a fraction of a cent). You will need thousands of streams to recoup the setup costs, so that means much less chance of profit. The upside of course is that through Spotify and iTunes etc you can potentially reach a much larger audience.
Another benefit of releasing through CDBaby is that your music can be licensed, and you can make a little bit of money from people on TickTock (for example) using your tunes in their videos. Again you would need thousands of plays to make any real money, but it's a possibility. I'm assuming Distrokid have similar offers but I can't confirm since I don't use them.
Multiple channels is the best strategy to give people choice. I use CD Baby for digital distribution but also Bandcamp. CD Baby always does Black Friday sales where distribution costs are 50% off. But at the end of the day those are destinations inside the house (metaphorically speaking). Getting people aware and to the front door is the more challenging bit.
Time travel.
Otherwise, getting sync placement for TV/film.
I’ve been wondering exactly this myself. I used to be with distrokid but aren’t now. I’ve been looking at alternatives for distribution. I’m intrigued by Soundcloud but it’s horrendously expensive compared to pretty much all the alternative distributors. I’m quite tempted by Horus now, and might well go for them except I stopped at the point where I saw that they pay in Western Union (an American company I believe) and I’d have to sign up an account with them also, which I won’t.
The points against soundcloud are that it really does cost far too much, and they take too big a slice. The points for them I think are that they have easily the most sophisticated social mechanisms in their system for a direct community. It’s a bit like what I used to like about Flickr (and I recently signed up for pro Flickr again and am pushing everyone to do the same and get chatting there because it used to be good back in the day and could be again if we all came back). However, I really shouldn’t care about the community of a single service, I’m aiming at full distribution to all DSPs so anyone can listen to my stuff from anywhere on anything (like, eg, a radio).
Also, when I was with distrokid I could upload lyrics – apparently some of the paid DSPs showed lyrics when playing, iTunes I believe, for example (I don’t know if it did or what it looks like as I’d have to pay to subscribe which I won’t). Horus emailed me back to say they don’t support uploading lyrics. I can’t find whether Soundcloud does either. I’m starting to think that the lyric thing was a bit of a distraction, but at the time I thought it a good means of ‘publishing’ them. There’s probably other ways to achieve that.
I've used Amuse (https://www.amuse.io/en/) for my last 3 album releases (in addition to bandcamp) - it cost me nothing.
I never thought I'd make more than a couple of dollars from streaming of my music - so didn't want to pay any service when there was a good chance I'd never get anything back... Amuse has a free plan that will get your music on several of the main streaming sites, & they just take a percentage off when you cash out. I've had no complaints or issues with them - and planning to submit my next album to them in the coming days! I've had about 4500+ streams of my last 3 albums combined - it cost me nothing to post them - and I've cashed out just a little over $30 Canadian (so approx 22$ US)
And you could maybe check out Tunebubble (https://www.tunebubble.com/) - I plan on adding my next album on their site as well - they also have a free plan (plus paid ones) that will allow you to host your music for downloading and charge $ for each song. I haven't checked it out completely, but planning to investigate more soon...
The only time I’ve made a decent income from recordings, was by selling tapes at gigs. Sometimes the band would make more money on those than the fee for playing.
I've learned so much here today. Thank you for your help mates. I was leaning towards BandCamp anyways, and I think that's what I'll go for.
So I deleted an old 2010 single off of there (it was rubbish lol), and I'm working on retooling my profile (such as the fact it lacks a profile pic and a bio, although I suck at writing bios 🤣). I plan to release my first single "Sakura" this Saturday, so plenty of work to do!
What’s the feeling out there about using Patreon in a YouTube set up for selling content? You could easily knock up a AI generated video to go along with it.
You could maybe have a taster in free videos and the proper longer ones for sale?
I didn't think to use Youtube, lol. Might be a good avenue to take to advertise my Bandcamp page.
Ah, I did create a teaser video in Lumafusion.
I plan to post it to Facebook tomorrow morning mate.