The Official.fm Weekly Music Biz Recap #2April 29th, 2011 | weekly music biz recap
Lots of great material this week, so let’s get started. Find some time to read these throughout the weekend.
Here are this week’s highlights!
- The Roots’ ?uestlove comments on building a movement with other artists as a way to market music.
It basically talks about building a scene together. Very important if there’s not much of a scene for your niche of music.
- Apples and oranges? Blogger David Harrell asks himself the question: “would 99-cent albums find the same success as 99-cent books?“, Billboard looks at what the music biz can learn from Netflix, while Jeff Jarvis sets out some lessons for the news industry which could just as easily be applied to the music industry.
What do you think? Comparing apples with oranges or are the similarities great enough to adopt these rules and lessons?
- Trendwatching.com talks about the F-Factor and discusses the way in which friends, fans and followers influence consumer behaviour.
How consumers discover new products and services by relying on their social networks. How consumers will increasingly (and automatically) receive targeted ratings, recommendations and reviews from their social networks. How consumers can ask their friends and followers to improve and validate their buying decisions. How shopping is becoming increasingly social, even when consumers and their peers are not physically together. How consumers’ social networks are literally turned into products and services. Very important insights for people involved in something as liquid as musical content!
- Research by event-organizing platform Eventbrite shows that “when we look at dollars per share by type of event [...] we find that shares are most valuable for music events and concerts, at over $12 per share“.
Are you encouraging visitors of your shows to share?
- It’s easy to get overloaded by social media… So Music Think Tank posts 12 tips for social media time management.
“To effectively manage time, the greatest enemy isn’t the lack of time, but the lack of self-discipline.”
- Dennis Carlson, a former music manager and a current health insurance agent writes about health care tips for artists.
Especially relevant if you’re located in the US, but good food for thought either way.
- We’ve been talking about ‘the cloud’ lately, so has the blogosphere. Hypebot posted the 5 latest cloud rumors and the Rethink Music Conference dedicated an entire panel to it.
“It’s not how do you compete with free anymore, it’s about how do you make money off free. If we can make experiences that make people’s lives better with music, we have to focus on that side. Technology advance goes along with streamlining business processes. There are still people who haven’t tried digital music services at all.”
- Who the heck wants to invest in music these days? Lots of people!
The future is bright.
Have a nice weekend!