Date post: | 01-Nov-2014 |
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Business |
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Music, Media and Multiple Streams of Income
Greg Rollett
Music Formats
• 8 Tracks• Vinyl• Cassette Tapes• CD’s• MP3• What’s next?
(the new file that is 1,000 times smaller than an MP3)
Napster
• Blender’s Number 1 Biggest Record Label Mistake of all Time
• What did it do?
• What did we learn?
• What about torrents?
Declining CD Sales - OK Digital Sales
• 48% of teens did not buy a CD in 2007• Biggest selling CD in 2005
– Mariah Carey 4.97 million
• Biggest selling CD in 2007– Josh Groban ‘Noel’ 3.7 million
• Soulja Boy - 3 Million Plus Ringtones sold • Digital downloads in 2006
– 588.2 million
• Digital downloads in 2007– 844.2 million
Selling music is hard, selling the music lifestyle is
easy(er)
Musicians Need to Make MoneyJust Not off Music?
How?• Live Nation – New 360 Jay-Z deal, Madonna & U2• Radiohead and Trent Reznor battle• Downloads - iTunes, Amazon MP3, Myspace Music• Streaming – iLike, Last.Fm, Pandora• Advertising – Adsense, other ad networks, direct sales• TV, Movies, Commercials – Licensing • Concerts – local, regional, national• Clothing – run it yourself or partner with a local company• Video – YouTube traffic is huge• Video Games – Guitar Hero, Rock Band, EA Sports• Blogging and Social Media (Digg for bands?)• Partnerships – get your local community involved• Corporate sponsors – Honda Civic Tour, Vans Warped Tour• CD’s – still a viable income source for musicians
Be Where Your Fans Are
• Crowd Participation– Where do you find new music?– Where/how do you buy music?– What social networks do you use?– What about at work / car?– How would you like to buy music? What’s
easy for you
Hopefully based on your answers
• When you are marketing / promoting, be accessible everywhere
• Think widgets
• Think viral
• Get people involved
• Emotions
• Network
How to be everywhere• Read blogs
– Mashable, Hypebot, Engadget, TechCrunch, Orlando Sentinel, suggestions)
• Be on every site that lets you have music, even if it’s just an embed code
• Blog on your own domain• Use all media
– Online, radio (internet, traditional, college), print (mags, books, newspapers, weekly’s), tv (cheap late night advertising on Fuel or niche cable sites)
• Eliminate cost by creating income