To get an overview of funding information and resources available to artists of all types, start by reading our Knowledge Base article: Where can I find grants for individual artists?
Musician and author David Cutler tells us in his blog post about income models that "grants [to musicians] can provide support for projects or an income source that allows you to focus attention on that project." He warns though that "these competitive awards are far from guaranteed." An example would be a grant that pays for you to compose a piece or make a recording.
He also states in his book The Savvy Musician: Building a Career, Earning a Living & Making a Difference (Helius Press, 2010) that "to increase your chances of success, apply for multiple grants when possible." Cutler also recommends even "targeting opportunities not specifically designed for musicians."
See also our related Knowledge Base articles:
Q: Where can I find grants for film or videomakers?
Q: Where can I find grants for performing artists?
Q: Where can I find grants for visual artists?
Q: Where can I find grants for writers?
Q: What is an artist's statement? Where can I find samples?
Subject(s) Arts and Culture