Monday, August 25, 2014

Analyzing Online Album Buying Patterns

Album Release Buying Patterns image
Fewer and fewer people are buying albums, especially online, but it's still interesting to look at the buying patterns. Global ecommerce company GeoRiot analyzed 500,000 clicks to albums on iTunes and found an interesting trend.
  • 26% of clicks occur before the album release as potential pre-orders.
  • 19% of clicks happen within 24 hours of release.
  • 54% of clicks happen within 2 weeks of release.
  • 20% of clicks happen after the release.
What that means is you have a very short period for potential album sales that's based around the release date in most cases. That's why the new strategy of releasing a digital single every 4 to 8 weeks before the album is released makes much more sense for our Music 4.0 world. That way there are many more events to generate interest, many more opportunities for your fans and listeners to be exposed to the music, and you can still compile them into an album release at the end anyway.

We now live in a singles world and that means our strategy based on the album has to be revamped.

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