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All of this is very new to me, but I would like to understand it more. So I have several questions.
1. I designed a website for a music group I like. I don't sell anything, but would there still be ways of making money off of it? Any ideas on how to promote it?
2. What are - Proxy, Arcade, Directory, Video Blog? How do you make money off of them, and how much money could you make?
Thanks for you time..
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Welcome to the forum

If you've design a website regarding a music group you really like, my immediate suggestions having in mind your explanation above...
Hang around a bit more in this big forum, owner has done a really good job in having it with many of the right people to help you and all of us. The more you read, the more ideas you may have for adding good materials to your orchestra!
Plainly, quick ideas that come up to me. Don't invest hundreds of dollars before knowing quite a bit of where you might be heading. And for now, go and hit a search on Google Adsense and perhaps the new interested one that pays even better than Google Adsense for quite a few niches, hit a search for "Auction Ads" .
See you around,
Joaquin