By James Pew
1. Band Analytics. In A New Model For Record Labels, Bruce Warila explains how the music business will become data driven. Here’s a quote:
The current music industry is a business driven by marketing and promotion. Going forward, any company that puts “record label” on their business card will have to be a business that is skilled at rapidly acquiring, managing, analyzing, presenting and intelligently acting upon…data.
2. Music Widgets. Check out bizmo, a great example of the type of widget tools available to indies. In a nutshell, bizmo is a free, easy to use, embeddable widget. An artist can sell a number of things from it including music and merchandise. The deal seems fairly square, the artist collects the larger % of revenue. Artist’s can also set their own pricing, that’s a big plus!
3. The Trent Reznor Model – CWF+RTB=Profit. In other words CWF, or Connect with your fans, then RTB, give them a reason to buy. This simple meme can help you build up to a sustainable business level. No matter how large or small your fan base CWF + RTB applies.
4. D2F – Direct to Fan.
Through the use of technology and a forward-thinking digital strategy, artists at all levels finally have the tools necessary to build and maintain an environment that lets them dictate the terms of their business. — Jason Feinberg
Check out Topspin an innovative music company offering Direct-To-Fan solutions for artists.
5. 1,000 True Fans is the model that applies to every evolving indie musician working to build a following. This Kevin Kelley meme first appeared on the Technium in March 2008. The 1,000 True Fans model, and its Long-Tail thinking can get indie artists focused on building small, but vibrant, communities of fans. Working their way through the Long-Tail at a steady pace, instead of aiming for overnight mega-stardom.
6. Open Music – Remix. Remake. Mashup. Think of publishing music and all forms of creative content as adding pieces of something cool, funny, sad, beautiful, or even bold, into an ever-increasing continuum of ideas, messages, statements, observations, and expressions. An organic collective made up of every notion that was ever expressed in tangible form. From the pages of every book, or blog, the sounds of every streaming MP3, and the perspective of every image.
Most of us have unlimited access to look at or study this cultural continuum from any angle at any moment we choose, but no two people ever see or understand it the same. And now we are redefining the relationships between those who create and consume culture, and we stand to benefit from this explosion of artistic and cultural participation. Artist and fan, performer and spectator, activity and passivity – all concepts being vastly retooled. Open Culture is upon us.
7. Free – Chris Anderson’s new book, and extension of his Long Tail theory, further explores the “Future Of Radical Price” and other questions on how-to monetize the Hybrid Economy. Yes all this stuff is highly relevant to indie artists…so study up!
8. The browser is the new ipod – “Ownership becomes less important if the music you want is avaialble on-demand on the go” – “The future of digital content: open,mobile, connected, collaborative…” In other words music is going mobile!!
What Music Industry Memes do you think are steps in the right or wrong direction?
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Top 8 Music Industry Memes by James Pew is licensed under a Creative Commons Attribution-Noncommercial-Share Alike 3.0 Unported License.
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