In the last few years there has been many in the music industry who have speculated on the next viable move. I have watched many talk about everything from the 360 deal to the utility deal but know one has made them work; once again mostly talk and no show and mostly from industry “tastemakers” that don’t know what the hell they’re saying.
As the major labels still struggle to keep their catalogs in play they have basically dumped the signing and DEVELOPMENT of new acts therefore leaving the field wide open to the latest movement of new acts to tear into what was once a coveted audience. The new music industry business model is no longer in the hands of the majors!
The only real power left for the majors is the relationship with other major content outlets (radio, TV, internet, etc.) but even that is showing signs of serious weakness. The majors only moving part in the game is to hover around and wait until an act does all the work and then scoop them up, but at that point, who needs them.
Acts/labels who are working on their music marketing initiatives need to focus on the ownership of the content and the ability to deliver. Is that not what TV has been doing all these years? Yes, and now the same power is in the hands of the artists and labels.
Everyone should turn their websites into web channels and approaching the stream of income the same as TV. Taking a page from the 1940′s TV business model, instead of loading up advertisement from many who want to buy into it, you get a single company to advertise and they become the present’s packager.
Another form of the presents deal is the endorsement deal. This is all done through the management of your web channel and utilizing super niche social media marketing which works for both labels and artists alike.
The idea is to drive and keep a fan base on a site for stick time. Stick Time is one of the most powerful emerging measurements by witch advertisers are starting to gage their placements. But who are the ones that can facilitate stick time; recording artists and internet media producers.
By fully attacking your music marketing with multi level social media tactics that re-route to a final web channel destination, you can get someone to stay on a site longer than they would watching a half hour of TV programming (actual program time 22 minutes without advertising).
So at the end of the day if you have enough content on your web channel as well as loss leader programs and mailing data mining programs you can build a successful place where your fan base can be entertained and interact with you. Your site numbers go up as your stick time and you become a viable resource for an outside company to partner with and all of sudden you’re getting a monthly check just to do what you love – selling your music and entertaining.