Four Rules For Music Business Success
from the don't-suck dept
The Topspin blog has a story of one of the bands they've worked with, a lesser known act called Fanfarlo, that was able to reach some specific goals in promoting itself and building up its fan base, while getting many to commit to paying. From that, the post discusses a four step "formula" that the band used for success (listed here with my summary):- Don't suck: something that often gets lost in these discussions. The music still does need to be good. All of these business models are that much harder if the music isn't any good and fans don't like it. Playing good music is a definite first step.
- Get others to introduce you to their audience: This is another good point. I've been talking to some musicians lately, who were trying to understand how to best apply some of this stuff, and I often suggest looking for other, more well-known acts, that the band can work with to get some sort of endorsement, or "opening" slot on a tour (or even just a gig) as a way of reaching more fans. The Topspin post points out that some people assume that this is the real story behind the success of Fanfarlo, but the numbers don't bear that out. It probably accounted for approximately 30% of the band's sales. Not shabby, but hardly the only reason for the band's success.
- Make those audiences an offer they can't refuse: In this case, the band offered a download of their album, plus four bonus tracks for $1 for a limited time. Yes, all of the songs combined for a dollar -- not each of them for a dollar apiece. While I normally support just giving away the music for free, I can see a reason to offer them all for a dollar in some situations. In this case, it gets more people to commit to the music and the band, but at a price that is much easier to deal with. I'm still not convinced that $1 is better than free, but it sure beats regular album prices. While this offer was for a limited time, after it was over, the band still offered the download cheaply ($6).
- Repeat: This is another important one. We keep hearing bands put in place business model promotions that are one time deals, rather than a fully thought-out continuous and ongoing business model. By repeating the process, not only can a band keep making money, but it lets them iterate and experiment, and find out what works (and what doesn't.).
All in all, yet another successful example of a band figuring out ways to connect with fans while giving them a reason to buy.
Thank you for reading this Techdirt post. With so many things competing for everyone’s attention these days, we really appreciate you giving us your time. We work hard every day to put quality content out there for our community.
Techdirt is one of the few remaining truly independent media outlets. We do not have a giant corporation behind us, and we rely heavily on our community to support us, in an age when advertisers are increasingly uninterested in sponsoring small, independent sites — especially a site like ours that is unwilling to pull punches in its reporting and analysis.
While other websites have resorted to paywalls, registration requirements, and increasingly annoying/intrusive advertising, we have always kept Techdirt open and available to anyone. But in order to continue doing so, we need your support. We offer a variety of ways for our readers to support us, from direct donations to special subscriptions and cool merchandise — and every little bit helps. Thank you.
–The Techdirt Team
Filed Under: business models, connect with fans, cwf, fanfarlo, music, reason to buy, rtb
Companies: topspin
Reader Comments
Subscribe: RSS
View by: Time | Thread
http://www.socalfree.net/
[ link to this | view in chronology ]
Re:
[ link to this | view in chronology ]
[ link to this | view in chronology ]
I like the thought of this band (whom I've never heard of) using a smart business model to make what sounds like a reasonable amount of money. It harkens back to the arguments over at TorrentFreak this week about how a smart business model is somewhere on the scale between DRM BS and "piracy".
Bet the fans aren't complaining either.
[ link to this | view in chronology ]
1+2=3
[ link to this | view in chronology ]
Dont sue your fans, preteens (children), college students, single parents, grandparents, the dying... and people who were already dead at the time they supposedly pirated your product.
If you violate the above rule you make someone like me, who will NEVER buy a song from any label/artist that's under the RIAA scum-mobile.
Will always support the indies though.
[ link to this | view in chronology ]
#5 rule fun
Some may call this "the experience", I just called it "fun experience" if people don't enjoy and get marveled is not worth it.
[ link to this | view in chronology ]
Really?
[ link to this | view in chronology ]
Re: Really?
1. Find good ingredients.
2. Mix ingredients well.
3. Bake until at desired consistency.
4. Apply Icing as desired when cool.
Evan: What? The Record labels have been doing step number 2 forever! I mean, they haven't done any of the other steps, but they've got step number 2 down pat! You're so useless, Joe, for having a step that is widely known in your process on how to bake a cake!
What a Douche Canoe.
[ link to this | view in chronology ]
Re: Really?
[ link to this | view in chronology ]
You forgot #5
[ link to this | view in chronology ]
Re: You forgot #5
[ link to this | view in chronology ]
Re: Re: You forgot #5
Maybe #5 should be "Understand the contract you sign and shop around."
[ link to this | view in chronology ]
Basic Marketing
[ link to this | view in chronology ]
[ link to this | view in chronology ]
Indie Digital Future
The four step process is solid
but I would also add
Sign up for as many music social networks as you can
I just found a really good one for Indie Artists called Grindstop http://www.grindstop.com they pay you to sell your music
promote on facebook myspace twitter at the same time
[ link to this | view in chronology ]
[ link to this | view in chronology ]
Impressive!!!!1
[ link to this | view in chronology ]