With free music freely available P2P networks, the value of a recording seems to have slipped away. More and more artists are using their recordings as promotional tools to sell live shows and merchandise.
Below are some ideas I came across on a Web Strategy blog.
Web and Media Strategies for the Music Industry Music is free, trying to control it will always be a challenge going forward, the internet has dropped many of the barriers, and any speedbump is just a slowdown for the savvy consumer. I would suggest for artists and labels to figure out to embed monetization and market value into the song, some ideas:
1) Product Placement within the song: this has been done by many rap artists since the 1990s. The most popular drink, clothing, and car is mentioned in these songs, spurring a culture shift in consumerism. This is a sponsorship model which could lead towards monetization.
2) Many music artists know that the money is not made from CD sales, but from the tour, merchandise, and other auxiliaries and accessories. Bear with me, here comes the Web Marketing angle:
3) Viral Web Marketing play: Artists could deploy a viral widget that web users can place on their social network or blog sites. For every play, artists could give money to the site owner or blogger, in return for advertising sales of the two points mentioned above.
4) Is DRM a completely viable solution? One bootlegged copy on a college campus, and it’s completely gone.
[Resource http://www.web-strategist.com/blog/2007/04/06/internet-disruptive-to-music-sales-and-a-few-ideas-of-what-they-could-do-about-it/]
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Monday, April 09, 2007
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