In this age of cyber technology and advanced collaboration, it is advantageous for savvy independent music companies and artists to begin harnessing the power of file sharing, social networking, and online collaboration. Sorry to burst your bubble, but record companies just aren’t looking for artists right now. They’re too busy running around like cockroaches when the lights go on, suing anyone they can prosecute for piracy and trying to figure out how they’re going to continue to screw artists with millions of dollars using emerging technologies. This state of confusion puts you, my friend, in a very powerful position. Believe me, no fan in the right frame of mind will choose a record company over an artist; sorry Bad Boy Entertainment, but the days of the label overshadowing the artists are over. Fans aren’t stupid, they want to connect with artists on a personal level and feel like they’re partners in the artists’ success. In some respects, fan contributions, suggestions, likes, and opinions have a direct effect on the success or failure of an artist or band. For the life of me, I could never understand how an artist’s ego gets so inflated that they start to ignore, alienate, or disrespect the very people who bought them the big house, the sparkly jewelry, and the fancy car.
Back when cassette tape was still king, street vendors pirated every single song played on popular radio. Many complained that this was taking money out of the artist’s pockets and that it was the worst thing to happen to music since William Hung. I have personally witnessed an irrational rap star beat a street vendor to near death with his own box of cassettes because somewhere in his brain he justified his behavior by believing that the little money the vendor made from smuggling prevented play. . Say oh! What idiot was this? What the rapper didn’t realize is that consumers who would have bought the bootleg version of the album would eventually tire of a poorly duplicated copy and eventually go out and buy the real thing. Also, even if they didn’t buy the album from him, they would still become new fans who could potentially buy concert tickets, t-shirts, and future albums, which are more powerful sources of income.
In today’s music world, everything revolves around diversification. How many sources of income can you generate aside from music sales? Mention an artist on the planet and I can guarantee that with enough web searching you could find their music on the internet without even making a purchase. Why fight the tide of progress and eventually drown, when you easily ride the waves to the shores of financial success?
The internet is full of great places to sell music like iTunes, ReverbNation, CDBaby and the like; However, these venues are saturated with tons of top artists who actually have a marketing budget. Since you are broke and disenfranchised, you will take another route. Here’s a thought, give your music away for free. Shit, who doesn’t like it for free? I guarantee that the more of your music you give away, the more people will buy it from you. By offering gifts to your fans and potential fans, you earn their trust and loyalty towards your brand. With you, they know what to expect, and if your music is “in” then they expect to sell ringtones of it as a result of giving it away for free.
I’m not sure yet? Look at this. In Mike Masnick’s 2010 article The Future of Music Business Models (And Those Already There), Mike explains how Nine Inch Nails musician and experimentalist Trent Reznor made $750,000 in less than two days by giving away his music on his website Reznor offered fans a $300 Ultra-Deluxe limited edition album package. He advertised it as a limited edition of just 2,500 units. This package included DVD videos, vinyl, photographic images, and of course his album, you know, one that he’s giving away separately. Because Reznor built his relationship with his fans by giving them the opportunity to try his music for free, he was able to convert consumers into customers by offering music packages that were not available anywhere else in the world.
Stop being so focused on earning a few pennies that you let the dollars slip away. The music industry is about long-term stability, community, and limitless artistic expression. You will never be truly successful until you can build an army of fans who would rather go hungry than be without your music. Using your current pool of resources, think of smart ways to convert your consumers into customers. For example, give away your music and then sell your fans the chance to hang out with you in the studio or even record a verse on your album. Sell autographed t-shirts and hats, how-to videos, books, documentaries, or any product and service that your fans would appreciate, enjoy, and most importantly, buy. In this new music paradigm, it’s more about selling your brand than your music, so why not give it all away?
As always learns the business that you are in … peace
2011, Sahpreem A. Rey
Music Business Guru™ http://www.gottagetsigned.com