Tuesday, July 15, 2014

The Reality Of DIY Sales

Labels at Work Report image
The RIAA just released its Labels At Work: The Music Business In The Digital Age report that has some interesting stats that indirectly point a spotlight on DIY sales. Of course, this is from an industry trade group composed of the 3 major labels, so it's going to be slanted, so take this for what it's worth. That said, the stats are telling nonetheless.

First of all, the report states that the major labels spend 16% of their revenue on A&R, which in turn means they call themselves the "Venture Capitalists of Music." I'm not crazy about the term and what it implies, but when it comes to finding new music, it's certainly true in that it's their major investment.

Other interesting stats:
  • 80% of albums released sell less than 100 copies.
  • 94% of albums released sell less than 1,000 copies.
  • Only 0.5% sold more than 10,000 (which is now considered a hit in some circles).
  • Most record companies recovered their investments on only 1 out of every 5 or 6 new albums.
The reality is that most musicians are pretty good at making music, and terrible at marketing it. Remember that we're in the music "business" and you can't have one without the other.

If you're interested in learning what it takes to sell you music and get ahead in the music industry, consider enrolling in my Music Prosperity Breakthrough coaching course. It's a small investment for what you could receive in return.

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