While the financial markets get a massive bailout from the U.S. government, it's no secret that the music industry needs a bailout of its own. With CD sales becoming practically obsolete over the next few years to record store closings, it's becoming tougher to survive the music industry. While major labels downsize and reduce their marketing budgets, imagine the effects to the independent labels and artists.
In a new year with change on our minds, it's also time to start shifting towards the changes in the music industry. It's wiser to follow the trend or get left behind. Which will you do?
Here's 10 trends to follow in the music industry:
1) It's all about being social!
Whether you like it or not, your survival in the music industry depends on how social you are. And I'm not talking about Myspace. Myspace is no longer the ring leader and is being crushed by Facebook, LinkedIn, Twitter, etc. And in case you haven't learned by now, being social and building your buzz and fanbase is not about asking people to check out your music. It's all about creating conversations and the rest will follow.
2) They don't want to write about you.
The music industry needs a bailout and so does the media industry. Major media companies are bankrupt and closing shop. Advertisers no longer have sizeable budgets to spend with media. So what does that mean for the music industry? They won't just write about you anymore. With little to no funding left, pay-for-placement is the next choice. Yes, payola does not only exist in radio; it's common in media as well.
3) Ad-funded music.
Ever heard of RCRD LBL? They're part-blog and part record label and that's the wave of future music promotions. Artists and labels are funding their projects through sponsorships and co-branding deals.
4) Blogging- you need it like you need oxygen.
Citizen journalism has entered the building and traditional media has left. A recent study found that blogs had more of an impact on increasing music sales than any other medium. Consider this, instead of trying to get in the less than a dozen major music media sources that are still around, focus your public relations efforts on blogs and ezines.
5) USB Music Sticks
Those little things that replaced floppy disks are now being used for music. USB Music Sticks allows you to sell an album on a USB stick included with digital songs and other content - videos, photos and so on.
6) How about Music 2.0?
Web 2.0 this and Web 2.0 that. It's just the hottest technological shift. How about Music 2.0? What exactly is it? In simple terms, it simply means ensuring that all of your online promotions are search engine optimized (SEO) and that you leverage new media technologies to promote your music.
7) The new type of record label.
The old record label model is obsolete and will soon be replaced by the new label model, which will serve more as a helper to the artist than an owner of the artist. This new label will assist with marketing, bookings, networking and the other promotional aspects of the music business. But instead of owning all the rights to the artist, musicians will PAY their labels for their help, and the musicians will retain their rights. Seems to me that the new label will seem more like a marketing & PR agency than anything else.
8) Free. Gratis. Nada
These days you have to give your music away for free or at least so that you can drive sales of other products, such as concert tickets and merchandise. Check out RCRD LBL, Jamendo, and Spiral Frog.
9) Name your price.
It worked for Radiohead when they let their fans name the price of their CD and it could work for you.
10) Get your own.
This is the one time that bootlegging is ok in the music business. It's all about creating online conversations, networking, and being social. So how about creating your own social network. You can create your own Ning platform, your own Twitter microblogging tool that you can use to connect with journalists, DJs, etc., and even your own interactive widgets for your websites and social profile pa
Fabiola Fleuranvil,
N.Y.L.A. Entertainment Group
Music Promotions | Fashion Marketing | Entertainment PR
Email: Fabiola@NYLAEntertainmentGroup.com
Web: http://www.NYLAEntertainmentGroup.com
Phone: (404) 437-0078
