The new music business model is simply to give people what they want, how
they want it. What do fans want? Constant new music, quickly and easily
transferred to their favorite form of consuming it. That might be hitting up
YouTube or a digital download - but it is increasingly not buying a CD. I
touched briefly on the top 10 items that make up my New Music Business Model 2.0
and here I will expand on the most important of those. Get ready for 2010.
Let me also briefly explain why you, the independent artist, have an
advantage over the majors. Most major acts record an album over three months to
one year based on the availability of producers and label-approved studios and
release it based on Grammy eligibility, tour/venue scheduling, marketing budgets
to distributors and some other factors. You do not have these restrictions. You
will not be on tour for two years trying to catch the festival circuit. So, why
do you wait for two years to give your fans new music? Your fans should have new
music from you at least every three months. Don't try to create a masterpiece;
you do not have enough money to do so yet. Make great recordings of great songs
with great performances - that's all you need to do right now. The concept album
comes later.
1) Never release an album of 10 or more songs- No one wants to hear every
bit of your music genius, save those deep cuts for the "Long-Lost Songs Vault"
release or better yet, your posthumous album. Most fans buy music for how it
makes them feel: break-up songs heal, party songs get the night going and so on.
So, take your best two songs and treat them as a their own record release. Throw
a release party live, a listening and viewing party. This idea is not new; in
fact, it's the old school method of delivering a single with an A and B side.
The Digital Twin Single is the idea of releasing songs in many forms to present
their origin, their story and the band who created them. Basically, this means
record two fully produced songs and two acoustic versions, all while shooting a
behind-the-scenes video with interviews and some funny outtake stuff. Then you
release your DTS electronically only. Set up a website for only those two songs.
Post the lyrics and have products and art based on those two songs, make
snippets of the choruses, allow people to stream them. Offer the songs for free,
for one day only, to fans that sign up on your list. Then offer everything all
for one price. This also helps to ensure your live show is changing and fresh.
2) Never release a song without a video- This is the video age. If you do
not have or have access to a video camera, you are done. When was the last time
an album sold more than 2,000 copies from an artist without some sort of video -
live or otherwise? It's the way people find music these days and you must shoot
everything - behind the scenes, interviews with fans, pranks... Even if you
can't produce a concept video, get creative and do it on the cheap or hire
someone. Whatever you can do to get video into your arsenal, do it.
3) You should have a web store full of products that are not music based
(the KISS Rule)- If there is one bit of business wisdom I could give you it
would be this: If you must sell CDs, sell a CD and a hat, sell a CD and a
hoodie, sell a CD and a free dinner. Whatever the fan can't make easily at home,
sell it to them. It's also a new way to spread your band's message. Use
Cafepress.com or another on-demand shop to offer coffee cups, calendars, books
and so on. Don't just use your band logo either. Get creative: print a shirt out
with a killer lyric from one of your songs, take pictures of your band in
costume and slap 'em on calendars, create a hardcover book of your last tour
photos and stories. You get the idea.
4) Ask people to buy something, support your cause or subscribe to what
you are doing- If you do not specifically ask someone to support you, they
probably won't. I know it is simple, but most bands fail to produce quality
products to sell and then fail even worse at asking people to buy them.
Michael St. James is a songwriter, performer, producer, music publisher
and music industry speaker and consultant. He's the author of the
forthcoming 'The New Music Business Model 2.0' and creative director
of Stjamesmedia, LLC.
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