Music 2.0

The term ‘Music 2.0′ refers to a different model accepted by the music business. In a 1.0 world, Record Labels prevailed as the major distribution means for new albums, Radio Stations as the major promotion vehicle for new acts, and Live Concerts as the sole entertainment-based interaction between musical groups and fans. Today’s evolved model has shifted, and put Fans in the driver’s seat of much of the Distribution, Promotional Acceptance, and Interaction with new acts. How is it then, that so many new acts fail to accept this model?

It’s quite simple really: Most musicians are just learning about the necessity of integrating technology into their budgets, touring, and media. However, there is not enough time in a day to manage the demands of rehearsal, tour planning/management, fund-raising, promotional activity, online ‘fan/friend’ requests, etc. A Musician 2.0 is now demanded – one who fully creates her career trajectory and foundation on that of technology integration, rather than simply adding a few ‘tech’ pieces here and there (ex: MySpace page, and website).

What are your thoughts on how Musician 2.0′s can succeed in the future?

Music Capitalists 2.0

Ever heard the term, Venture Capitalists? 

For many music industry folk (musicians included) a venture capitalist and his/her procedures have nothing to do with the music business – so why do I even mention it?

Venture Capitalists (VCs) invest money and resources in start-up, emerging, and high growth companies (or ventures), with the anticipation that they will get paid back (ROI – Return on Investment) + compounded interest (5X – 10X their investment) in a 3-7 year period of time.

How are Record Labels, Music Publishers, Managers, Agents, and other pros any different than a Venture Capitalist when it comes to finding, investing in, and partnering with you?

THEY’RE NOT DIFFERENT.

So, what does this mean to the aspiring (or established) musical act who wants to get noticed, signed, booked or promoted?

It means – start viewing your music / brand as a start-up company, and you’ll start to see what I mean – and get closer to success.

VC’s and Music Industry Professionals look for the following in the next act:

1. Differentiation (How unique is the act?)
2. Market Size (How large is their fan following? Where?)
3. ROI (Does this act, or can this act produce a return on my investment?)
4. Musical quality (Is their product demanded for today’s market?)
5. Payback Period (How long would it take to get paid back?)

Answer these questions – or start focusing on achieving strong results for these, and you will win.

Reagan

Founder

WorldMusicLink.com

Connecting the Music Industry

The 4 Differences Between You & a RockStar

The single largest controversy happening within the past ten years (since the true emergence of high-speed Internet infrastructure /  capabilities on a mass scale) has been that of MUSIC DISTRIBUTION.

The Holy Grail for Record Labels has and continues to be the ability to manufacture, distribute, and track / earn income via the sale of music.

Why do Record Labels, Musicians, and other Industry players continue to enforce on Fans the Pay for Play model with Music?

Here’s the Fact: Fans want music to be: Free (or as cheap as possible), Mobile (accessible via any means), and Ubiquitous (everywhere they are).

Why then, does Music Talent and Industry Professionals continue to force payment for music if diminished margins (that’s profits), shrinking distribution chains, and piracy continue to win the race?

Here’s My Take: GIVE MUSIC AWAY FOR FREE.

Wanna make it as the Next Big Star? View your Music as a Virus.

What do I mean? A disease, if quaranteened, dies. An album or song, if quaranteened, dies. The fundamental difference between an emergining artist and an established act is that of resources:

1) Distribution Channels

2) Industry Professionals

3) Financial Backing

4) Experience (This is up for Debate)

HERE’S HOW YOU BECOME THE NEXT (YOU FILL IN THE GENRE) STAR.

1) Forget Traditional Distribution Channels: (Ex: WalMart, Virgin Megastores, etc.)

Established artists have one less defensible barrier to entry (that’s Business School jargon for “an easier way for others to replicate you and win”). In today’s industry, FREE is the ONLY WAY. Record old and new tracks with a plan on making them spread like viruses. Give them to as many people as possible without charge. Have a stack of CDs at ALL your Shows. Make music available for FREE download on your website. Make a ringtone jingle and distribute it free to your fans. Get fan feedback on E-Z ways / places to put your music.

*Most musicians have been brainwashed into thinking that their Music is their Financial Blood. Wrong. Think about your Music as the BAIT, and your merchandise, live video footage, concert tickets, interviews, etc. as the money makers.

2) Need Industry Professionals? That’s why we created www.WorldMusicLink.com. PS: It’s free to join – so don’t complain that you can’t muster up the money ($).

3) Financial Backing: Most musicians forget that they are in Business for themselves (see my earlier post). As entrepreneurs, you must find people who are “infected” by your music, cause, purpose, vision, brand, movement, mantra (mission statement), etc. This is why you must create your brand, publish it everywhere, and as famed entrepreneurial marketing guru Guy Kawasaki says “MAKE MEANING”. People want to follow others who make a difference. Your old High School friend who now is the Bank Owner may have a Metallica t-shirt on under his 3-piece suit – and he may be looking for a “cool” way to invest money in something he can get behind. Be bold. Ask for financial investors – and reward them handsomly. Ex: Give them a small % of income (but gradually increase it as you earn more) so that they take a little here and there while you take off as well.

4) Remember the old expression, “Knowledge is Power”? It’s true. The more you know about the Music Business, the better. Make friends with people who are smarter than you, who run a venue, book bands, etc. Ask questions and be honest – most people who know something like to share it (and have an audience that cares).

Reagan

Founder

WorldMusicLink.com

Connecting the Music Industry

Music Marketing Without a Business Degree

Being a musician means that you’re an entrepreneurial small-business.

Knowing how to balance expenditures, increase sales, build strategic relationships, and hire employees / associates (band members, agents, managers, labels, etc.) requires a significant amount of time, knowledge and resources.

The most fundamental challenge Music Talent (musicians, bands, singers, songwriters) face is DIFFERENTIATING THEIR MARKETING.

Specifically, How Do You Stand Out Above The Crowd?

TRY THE FOLLOWING:

View your music / look / theme as a BRAND.

Whether you like it or not – you must promote and distribute your BRAND via as many marketing mediums as possible (for as little investment cost) as you can budget.

Rule of Thumb: If you can think of 3 other bands / artists that have a very similar sound, look and brand appeal as you do – ITS TIME FOR A CHANGE.

You must view your audience members / customers (new or established) as if they are one MySpace / Twitter click away from following another group, and diverting their attention (and MOST IMPORTANTLY) disposable income to that other group.

When thinking about your music, your look and your theme – think different – while still being true to who you are.

Try bouncing your overall “brand” off of some new folks who have never heard or seen you before.

1) Get a feeling of the age range that is most receptive to your music / brand.

2) Understand the customers buying decision (Why did they come to my show?, How much were they willing to pay to see me perform? How much did they spend on average on my merchandise, music, etc.?

3) Keep a journal or Excel (computer) spreadsheet of these answers. Try different things, mix up your show / merchandise price point (more on this later).

4) Fundamentally, understand WHO LIKES YOU, WHO DOESN’T, and WHY.

Once you more fully get the following, you’ll be quickly on your way to increasing your fan-base, attracting attention from industry pros, and making more money.

Reagan

Founder

WorldMusicLink.com

Connecting the Music Industry