Thursday, January 22, 2009

Music and Business Models

The different models being tried and tested by the music industry make for interesting case studies. You can find some of the related posts we have already featured on our blog here, here, here. And oh, here and here too.

But did you know about How One 'No Name' Musician Used Free Music to Build a Following?
One of Techdirt's longtime readers, and a well known "social media guru," Adam Singer, sent in a very personal example: himself. It turns out that, on the side, he's been something of a hobbyist musician. After years of trying to sell his music from various sites and getting nowhere, he went free and found an entirely different experience. He chose a Creative Commons license for his music, and it was like "magic." Because people could easily pass around and share his music, suddenly he had a following. Many more people heard his music, even to the point of people creating a profile page for his music on Last.fm, his music showing up on popular music blogs and internet radio programs -- and even people asking to commission him to write new music for them.
And here is an example of Another Band With Another Unique Business Model
...the band Umphrey's McGee, who implemented a business model for their latest album that helped turn their fans into promoters. Saunders explains the band's "unique plan":
As more people pre-ordered, the band would add more "extras" to the release. There were eight tiers of potential content, each unlocked once a predetermined number of albums were purchased. The result was a massive effort by fans to promote the album for the band; if they got more people to buy it, their own purchase would have more value. I bought my copy over 2 months ago, and I convinced two friends to get it as well. Eventually, all eight tiers were unlocked, so a good number of albums must have been sold. The whole experience offered more to fans than just "music tracks" which could be pirated. Instead they were given a chance to help a band they love reach a wider audience, while at the same time "earning" more for what they were already willing to pay."
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