Forego the Singles Market to Win Back CD Buyers?
Not too long ago, the single was an essential instrument in getting people's attention for new artists or for promoting new releases; a low-cost way of testing the waters, of gaining exposure, and of discovering new music. In the past 10 years, singles never made substantial amounts of profits, rather, they were simply used to create demand, and stimulate the sales of CDs (or LPs, in the old days).
What happened to this idea? What if we were to revive it, today? Could this be a way to really compete with file-sharing? Are we better off to forego the small profits from selling singles, and use the format to win the music-buying public back? Turn those file-sharing criminals into CD-buying fans?
Here are some ideas I want to present for discussion:
1) Offer single-track (or dual track) CD singles at retail locations, for $ 1 / 1 Euro / 1 GBP, which I reckon should be just about enough to cover the actual, out-of- pocket expenses. Forget about margins and profits; just make it enough to cover everyone's actual costs. If it can be done for less, do it for less! Not everyone is inclined to download MP3s, yet (and not everyone likes the lower-quality sound of compressed audio, either), so the physical media option is still a crucial asset, and it would get people to the stores.
MusicDish Network Advertisement|
2) Offer remixes and re-releases of some select artists in your catalogs, as well, not just the new releases. Select parts of your catalog that may have the potential for a 'revival', and churn out dozens of dual-track CDs at a 'next-to-nothing' price. Shoot for the 35+ age group, in particular. Think NICHE, think Music Enthusiasts. Be aggressive and let them have it!
3) Offer some singles bundled with other products, for free, such as at gas stations (free single when you fill-up), eateries (Mc Donald's et al), book stores, clothing stores and convenience stores. Get your music out there, aggressively, and you'll see full-length CD sales come around because your music will get exposure, and the discovery process always leads to sales.
4) Make the very same singles available for free downloading, in unrestricted, zero-DRM MP3 formats, all over the Internet. Just ask for an e-mail address (with verification) in return, and include 'tell your friends' options, on the sites. Link the free singles download area with various 'Buy the CD' promotions.
5) Set up a new singles chart that tracks sales and downloads, equally, and start diving into collaborative filtering and recommendation software, and beef up your CRM (Customer Relationship Management).
I am dead certain that, if immediate profits, corporate policy concerns and the prevailing general adversity to change can be set aside at least for a trial period, this campaign would be hugely popular and would rekindle serious interest in buying music, once again. And Kazaa et al would pale, in comparison!
Think: exposure leads to discovery, which inevitably leads to income. And act.
» Streaming & Listening Diversity - Spotify Case Study
» Pandora Subscriber Base Grows to Over 5 Million
» Music Industry Betting On VR & AR For New Revenue
» Sound Royalties Unearths Millions in Undistributed Royalties
» Indie Labels Represent Over A Third Of Global Recorded Music Market
Insider Scoop Directory
» [2017-11-21] Joint Statement By The Nordic Musicians' Unions And British Musicians' Union; Discussions On The Issue Of Gender Inequality, Sexism And Sexual Harassment, The Scale Of Which Had Been Highlighted By The Recent #metoo Campaign
» [2017-11-13] Women Make An Impact On The 2018 MPG Awards Shortlist; Nearly A Quarter Of Those Named This Year Are Female, Proving That Music Production Is No Longer A Bastion For The Boys
» [2017-11-13] The Nashville Musicians Sound Healthcare Plan Rolls Out; Sound Healthcare & Financial Announced The Formation Of A True Group Health Insurance Policy Plan For Musicians And Industry Professionals
» [2017-11-09] Streaming & Listening Diversity - Spotify Case Study; Will Artists Have An Easier Time Finding An Audience, Or Will Streaming Focus Global Attention On A Small Number Of Stars?
» [2017-11-09] Two-Sides Of Copyright Finance: Sound Royalties & Kobalt; Sound Royalties Unearths Millions In Undistributed Royalties While Kobalt Launches Fund To Invest In Music Copyright
» [2017-11-08] Career Moves: ROLI, Live Nation Sweden, Music Glue, BBR Music Group, Warner/Chappell Music Spain & Blue Night Soundscapes; ROLI Chief Creative Officer, Live Nation Sweden Managing Directors, Music Glue Global Head Of Business Development, BBR Music Group VP Of International, Warner/Chappell Music Spain Managing Director And Blue Night Director Of Music Clearance
» [2017-11-08] Europe's Digital Music Leaders Form Alliance; European Digital Music Companies Launch Of Digital Music Europe
» [2017-11-05] Pandora Subscriber Base Grows To Over 5 Million; Pandora Premium Paid Subscribers Cross The 1 Million Milestone In October 2017
» [2017-11-05] Hybrid Studios Announces Online Mastering Services; Engineers Billy Klein And Brian Frederick Spearhead New Online Mastering Effort Through OC Studio
» [2017-11-05] Music Industry Betting On VR & AR For New Revenue; The Music Industry Is Making An Early Bet On VR & AR To Create New Revenue Streams Across All Their Lines Of Business
» [2017-11-04] Sound Royalties Unearths Millions In Undistributed Royalties; Nearly $14 Million In Undistributed Royalties Has Been Found By Music-focused Finance Firm Sound Royalties
» [2017-11-02] MusicDish*China October China Label Music Releases And Charts; Several Tracks From October Releases Have Charted On Chinese Music Portal Kanjian ING Top 10 Weekly Chart
follow MusicDish on