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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