Tuesday, April 22, 2014

Prince Comes Back To Warner Bros And Shows The Boundaries of DIY

Prince image
The rallying cry of many musicians today is “Do It Yourself” or DIY, meaning that it’s now possible to do so much of the grunt work necessary to make it without the help of a record label. For instance, you don’t need a label to act as a bank to supply money for recording any more, since most every musician has a studio at home these days that’s far more powerful than what The Beatles used in their heyday. You don’t need the label to manufacture your product, since it’s now possible to print limited runs of CDs if necessary, and virtual products cost very little to distribute. As far as promotion, social media and YouTube play such a big part in getting the word out, and so much of that can be done directly by the artist.

DIY is indeed a viable option until the point where the artist rises to the level of star, then all DIY bets are off. In order to break on through to the other side of international superstardom, the marketing infrastructure provided by a major record label is almost a necessity. A DIY artist can opt to try to reinvent the wheel, or go to a label with experience and expertise to make things happen on a larger scale. 

This is exactly where superstar Prince finds himself, as his recently announced new deal once again returns him to the Warner Music fold, a surprising move that many industry observers thought could never happen. Warners was the label that originally launched Prince into stardom, but the falling out between the parties became so vile that Prince labeled himself a “slave,” then changed his name to that unpronounceable insignia as to create a new trademark that would not promote his previous Warner releases. Read more on Forbes.
----------------------------------

Monday, April 21, 2014

Social Media Can't Defeat The Law Of 250

Facebook Friends image
It's been speculated that because of social media, we'll all have far more friends than ever before. This was expected especially of the Millennial generation, who have been far more connected in their lifetimes than all previous generations combined.

But a new Pew study has found that even for Millennials, the median friend count on Facebook is still 250, just like it's been for other generations.

250 has always been a magic number. People would like to invite 250 or so to a wedding, and an average of 250 show up to a funeral. In sales, 250 is seen as the number needed for a sales or business career. Joe Girard, who's been billed as the world's greatest salesmen, has long contented that 250 prospects or referrals are required for sales success. The number has cropped up time and again, but it was thought that social media would transcend it.

But it looks like despite all of our hyper-connectivity, we just can't get away from that 250 friend count. Sure, many of us are way beyond that number on various social platforms, but how many can we really count as true friends? My bet is that you're lucky if you get to 250.
----------------------------------

Sunday, April 20, 2014

Are People Actually Using Twitter?

Twitter Stickiness image
It's one thing to be on a social network, it's another to actually use it. That seems to be the case with Twitter, which seems to get a lot of people signing up, but only a small percentage remain as active users.

This is illustrated in an infographic put together by Statista using the data published by Twitter analytics firm Twopcharts. As you can see, of the 284 million accouts created in 2013, only 37 million were actively tweeting in February 2014.

There are almost a billion current Twitter accounts, but only a small number are active. There have been almost 2.5 billion Twitter accounts total over the history of the platform.

What does this mean to you for promotion? Some people get Twitter and some don't. If it feels comfortable for you and you find a lot of your fans are using it, it's definitely worth adding to your social arsenal. If it doesn't seem to fit, there are other platforms that you'll find can be more useful to your social promotion.
----------------------------------

Thursday, April 17, 2014

A Strategy For Sending Out Gig Reminders

Gig image
Artists, bands, record labels and anyone doing a show needs to make their fan base very aware when they're doing a gig. You can't rely on just a single email to get the word out, it takes a more comprehensive strategy. Here's an excerpt from my Social Media Promotion For Musicians book that outlines such a strategy that has proven very effective in getting people to your show.

"Gig reminder emails fall into a different category in that they can be a lot shorter and a lot more frequent. While the email sequence below may seem like a lot of emails, remember that for true fans, you’re doing them a favor by keeping them informed, and you’re marketing yourself for other things at the same time. A potential reminder strategy is:
  • The day a show is announced or tickets go on sale. As soon as you know that you’re playing at a venue, send out an email. This could be to the entire list if it’s announcing a tour, if it’s the monthly schedule for a cover band, or if you believe that people will travel to see the show.
  • A week before the show. Send out a reminder but concentrate more on the band, regarding a new part of the show, new songs, a music video, or something that you want to the fan to see.
  • 3 days before the show. Send out a reminder and include more information about the club and who else is playing.
  • 1 day before the show. Once again, remind the fan about a a different feature of the show or the music that’s unique and won’t be seen or heard any other way than attending. You can change the headline to “You don’t want to miss this,” or “See our new show tomorrow night.”
  • The day of the show. Send out a short reminder in the late morning to just the portion of your list in the general area of the club. Use a headline like, “Can you make it tonite?”, or “Last chance to buy tickets!”
  • The day after the show. Send an email with backstage pictures, pictures of meet and greets with fans or just fans in the audience, as well as links to videos. This is a nice shout-out to those that were there, and a prod for those that weren’t not to miss you next time you’re in town.
Of course, if you’re lucking enough to have sold out your show, you won’t need to send as many reminders. That said, you might send one headlined “Sold Out!” that either announces another gig or another way for the fan to hear your music or buy your merch. A contest for two last minute tickets (put them on your guest list) also works well.
TIP: In every reminder be sure to include all the pertinent gig information, including the name of the venue, the full address, the phone number, the time you’re going on, and other acts on the bill. Consider including a map or a link to one as well.
Artists and bands are sometimes timid about sending out so many gig announcements, but fans that ordinarily would attend really do forget. Remember, you’re doing them a favor by reminding them.
TIP: When sending out multiple emails in a short space of time, be sure to continually change the headline and the email contents." 
You can read additional excerpts from Social Media Promotion For Musicians and my other books on the excerpt section of bobbyowsinski.com.

Wednesday, April 16, 2014

Music Stores Take The Biggest Hit

Rise and Fall of Retail Workers image
Reader Scott Culley turned me on to this article in The Atlantic about the decrease in retail jobs in the United States.

The most interesting point is driven home by the chart on the left. The part of retail hit the hardest is music stores, as you can see in the very last point on the left side of the graph.

Now keep in mind that this also encompasses stores that sold CDs, which have been virtually driven out of existence since the emergence of digital music, as well as mom and pop retail musical instrument stores as well.

The point is that the music business has felt the hit on so many other levels than just the artist and record label in the last ten years. They may not have been great jobs, but they were jobs all the same.

Tuesday, April 15, 2014

The iTunes Store Shows A Hint Of Panic

There’s talk coming from various sections of the music business that Apple’s iTunes Store will soon offer high-resolution tracks for sale, and that the introduction might coincide with the future release of three Led Zeppelin masters. The unconfirmed details have the hi-res tracks in their full 24 bit glory encoded using Apple’s lossless audio coding, and priced a dollar more than the current lossy AAC tracks.

Mastered For iTunes To The Rescue, Maybe
The fact is that Apple has been accepting 24 bit tracks at up to a 96kHz sampling rate for more than a year now in their Mastered for iTunes program (called MFIT within the industry), but the final encode for the iTunes store was still done at the lossy AAC resolution, although they sounded better due to starting with a higher quality master.

Supposedly, the hi-res track launch is in response to the fact that Apple is seriously concerned about how quickly download sales are diminishing, with Nielsen Soundscan’s Q1 report finding that downloads have diminished 13.3% over the same time last year. Apple missed the boat when it launched iTunes Radio, thinking that it was a way to increase download sales instead of realizing that people stream because they don’t want to purchase their music anymore. Now it’s faced with sales falling far faster than anyone ever anticipated as streaming gradually takes over the music delivery space.

But offering hi-res tracks might be only a temporary ace in the hole for iTunes, record labels and artists alike. It doesn’t cost the company extra to offer hi-res tracks, since most are already delivered that way, and it increases the per track revenue. The only problem is that the majority of buyers probably aren’t interested in the higher fidelity in the first place, and would rather pay the least amount of money possible if they choose to make a purchase at all. Then the fact of the matter is that many pop-oriented tracks aren’t recorded that well to begin with, or use distorted samples or loops that probably won’t provide much of a difference in the end for the average listener. Buy one hi-res track that doesn’t seem worth it and you’ll probably never buy another again. Read more on Forbes.

Monday, April 14, 2014

What Is Radio's Biggest Music Genre?

Brad Paisly image
OK, quick show of hands? Who thinks that electro-pop is the biggest radio Top 40 genre at the moment? Who thinks hip-hop? How about rock? You're all wrong - according to Nielsen, it's country music.

Country music's audience has grown wider and younger in recent years, and is now poised to dominate the radio airwaves like never before. And it's kicking butt on television as well, with the recent Academy of Country Music Awards receiving its largest viewing audience in 15 years, ABC's prime time Nashville also a hit, and numerous country-oriented reality shows in the works.

One of the reasons for the format's growth is that it has embraced younger artists like Taylor Swift, the Band Perry, and Hunter Hayes more readily than in the past, which has enabled its radio market share to rise dramitically even in the 12 to 15 year old bracket. To put it bluntly, it's no longer the music of 40 year old women like it once was.

While many say that today's country is just 70s rock with fiddle and steel guitar, there's a vibrancy to it that other music doesn't seem to have at the moment. Popular music is all about cycles, and perhaps we've not seen the peak of the this latest country cycle just yet.

Sunday, April 13, 2014

Streaming Up And Downloads Down This Year So Far

digital music image
Soundscan's sales numbers are out and it's no surprise that the same trends that we saw at the end of last year continue, only more so. Digital and physical sales were down while streaming was way up, and the hits are doing better than ever compared with the bottom of the charts.

Here's a look at some of the most important numbers:
  • Digital Sales - down 13.3%
  • CD Sales - down 21% compared to this time last year
  • Interactive Streaming - up 35%
  • Streaming Royalty Rate - up to $.005 from $.00375 last year
Even though sales are down, streaming royalties seems to be making up for the decline, which is something that was predicted would happen. In fact, if this trend continues, music industry revenue could actually rise slightly by the end of the year.

Albums continue to take a hit as well, with digital albums down by 14.2%. In fact, all genres of music posted a decline except for electronic music, which posted a modest 2.7% increase in sales.

The music business continues to evolve and the switch to streaming continues at an increased rate as consumers warm to having access to, rather than owning, music. With several new streaming services about to be introduced, it will be interesting to see if the trend accelerates even more.

Thursday, April 10, 2014

Is Wu-Tang Clan’s New Album A Look Into Future Music Industry Sales?

Wu-Tang Clan album image
The only copy of "The Wu - Once Upon A Time In Shaolin"
When Wu-Tang Clan announced recently that they’d be pressing only one copy of their upcoming album The Wu - Once Upon A Time In Shaolin and would put it up for auction after a museum listening tour, the general thought of music industry insiders was that this was a giant publicity stunt.

Well, stunt it is that’s working beautifully in raising the group's visibility, but it’s also an excellent case study in one of the principles of the Economic of Free, a theory put forth a few years ago in Chris Anderson’s book called Free: The Future of a Radical Price. Whether they know it or not, Wu-Tang is proving that the little understood second principle of the concept works like a charm.

While Anderson doesn’t outline the concept of the Economics of Free (E of F) specifically like I’m going to in his article, breaking it down into the following two principles makes it easy to grasp and see in action. Let’s take a brief review in how E of F applies to music sales in the world we live in today.

The Two Kinds of Products
First understand that the typical artist has two kinds of products; infinite and scarce. Typical infinite products are music or videos in a digital form, which cost nothing to reproduce. Scarce products include tickets to live shows (not very scarce, but more so than digital music), custom CDs and CD box sets, signed merchandise, exclusive access to musicians, backstage passes, private concerts, and anything else that has a limited supply.

Giving Some Away
Keeping that in mind, Principle #1 is “Give some or all of your infinite products away for free in order to charge for the more scarce ones.” We see this all over the web every day in the form of the many “freemiums” that are offered. For instance, sign up for the free tier of Pandora or Spotify, and if you like it, you can buy up to the next level of service that makes it ad-free with better audio quality.

Instead of using money, many Principle #1 transactions revolve around social currency, like giving away a free download or exclusive content in exchange for an email address. That allows the record label, artist or band to continually offer other products that you might buy later that potentially carry a higher profit margin. Read more of Forbes.

Wednesday, April 9, 2014

Which Decade Had The Worst Music?

Decade of the worst music imageYesterday I posted a piece of the latest CBS/Vanity fair poll on music in the United States. Here's another section from the same poll, this time about the decade that most people think as had the worst music.

I don't think it's surprising that most people think this current decade leads the topic, but what is surprising is how many really believe that at 42%. The past 4 decade has its detractors as well, but with 15% in the 2000's, 13% in the 90s, 14% in the 80s and 12% in the 70s, those decades are viewed very similarly.

It's difficult to say exactly why people feel this way (which is even shared by younger listening audience members), but I suspect it might have something to do with the rise of EDM influenced songs which center more around the beat and a hook than melody and lyrics.

It would be really interesting to see how this figures are broken out by age, genre tastes, and location.

Tuesday, April 8, 2014

How People Listen To Their Music

CBS and Vanity Fair recently conducted a survey about music consumption in the United States that's extremely detailed and interesting. I'll be providing information from that report from time to time in upcoming posts, but let's start off with how most people listen to music.

As you can see from the chart below, the radio is still the way that most people get their music at 49%, followed by a digital music service way behind at 17%.

People still like to listen to songs in their library from a phone or digital player at 15%, 9% still use a CD player, 6% from their computer, and 1% from a record player.

That last figure is surprising in that it's as high as it is. Vinyl has made a comeback, but finding the equipment to play it on isn't all that easy these days. Also, the fact that so many still use CDs shows that the format has a great deal of life left in it as well.

How people listen to music image

Monday, April 7, 2014

Keeping The Cannibal Away: The 3 Biggest Issues Facing The Upcoming YouTube Streaming Service

YouTube Music image
There’s been a lot of rumblings from Googleland again about the new YouTube streaming service that it’s preparing to introduce, with most of more recent ones being about how Google is struggling with getting everything just right before it launches. There’s good reason for the company to be so cautious as there’s a lot riding on the decisions that are being made right now, at least in the music sphere.

The launch of the new YouTube streaming service has actually been speculated for months, and if I didn’t actually know people who have seen it for themselves, it might be easy to think of the launch whispers as a just a diversion to throw off the competition, a nice rumor to scare the pants off of Spotify, Pandora and Beats Music. That said, all indications are that the service is being crafted to be a serious contender in the music streaming space, but the fact of the matter is that there are three major issues facing Google here, and none of them trivial.

The biggest question is how to top something that’s doing so well already under its own momentum. YouTube is already the largest music discovery engine online, beating all competitors by a large margin, according to Nielson’s Music 360 Report. You don’t hear a lot of complaints or “if only it did” comments from its users, as most are quite content with the on-demand access that they have now. Oh, and it’s free too. How do you surpass that without becoming just another service groveling for some of Pandora or Spotify’s marketshare?


By delivering picture along with the audio, that’s how, which raises the second question of how Google gets around delivering that picture without it resembling a late night at a Karaoke bar. Word has it that the company is looking into licensing different types of artwork to play behind the music; some static and some dynamic. Ideally the graphics would have at least something to do with the artist, but many videos today get by just fine with abstract graphic designs. Read more on Forbes.

LinkWithin

Related Posts Plugin for WordPress, Blogger...