Monetizing a site I've run as a hobby so far

So I've been running a music site since the start of this year, focusing on Chill Hiphop, triphop and jazzhop: Chillhop - Your source for the best in Chillhop music
We mainly promote music, post new releases, interviews, and make mixes every now and then. Most of the music we feature is free or can be bought for a small price.
It's been going well so far, a lot of people like our content. It's a niche market, so I'm not going for mass quantities.
Although it's going well, I want it to become more than just a blog site. I want to provide a platform for the artists where people can connect with them, where they can write stuff about themselves, a place where you create the social link between the artist and the listener, since that is not there for the scene.
We recently started running a radio station on Digitally Imported, which is a well known radio platform, in order to attract more followers.
We have a small webshop, but the possible profit from that is nowhere near a decent amount.
I don't want the quality of the site to suffer from me making money, so I'm not leaning towards advertisements, as this is not worth it in my opinion, or at least stuff like adsense isn't.

The only sane idea I had so far was membership or "premium membership" once I develop it into what I have in mind. I hope to be able to make some money before that, so I can use that to invest in further development.

Any insights, ideas are very much appreciated. Thanks everyone.
Oh and if you have any further questions, let me know!