There was a time when almost every teenager that had access to TV used any opportunity to see what was going on the music channel and watch those incredible videos of Madonna, Michael Jackson, Guns ‘N Roses etc… Those music videos had the purpose of promoting musicians and drive album sales in the record stores, gas stations, super markets etc. And from a teenage point of view they were for free. Yes, there was an advert here and there, but we did not mind so much.
Now, in the age of digital natives as teenagers and the existence of P2P, YouTube.com and alike and video on demand platforms, the situation looks much more different. They are still watching music videos and I must say that the consumption is even bigger. But it does not go necessarily to “legal” channels to satisfy that need. I wonder why is that?!?
Well, the record companies have been struggling big time in the age of Internet. It seems that either they cannot or do not want to adjust, change or innovate their marketing strategies and business model. They prefer to spend more time and money on lobbying, taking legal actions against individuals consuming “illegally” and raising prices. Guys, this is not how it works anymore! Times have changed and now you have to engage in a conversation and find a way to make money without doing what you have been doing lately:
- YouTube.com original music video presence is banned in many countries – Here goes your Promotion.
- Pricing a DVD at 8-35 USD is actually stopping many people from buying and iTunes Store is so powerful cause it serves the long tail demand and offers the opportunity to buy only the videos that one believes deserving the money – Here goes your Pricing.
- Why do one have to travel to a music store, when Amazon.com & iTunes is one click away? … Oh, and not to forget the P2P (which by the way is fast and with a constantly growing database? In both case you are either sharing revenue or not getting any at all – Here goes your Placement.
- A store can hold just so much inventory. And besides, who are you to decide what people should listen to and pushing them with James Blunt and alike. We live in a free market and the internet age has offered us the opportunity to share, interact, tweak content and recognize subjectively what interests us. – Here goes your Product.
So, think fast, cause the clock is ticking! You wouldn’t like to be left in a position where the new generation has ousted you from the number one source of content, online music shop started dictating you terms or more and more artists decided to use platforms like Sellaband.com…
Copyright © 2009 Borislav Kiprin. All Rights Reserved.