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Strategic Thinking for Music Business

Discussion in 'Studio Lounge' started by Casy, Apr 29, 2009.

  1. Casy

    Casy Guest

    Music Business and the mode for marketing keeps on changing as 95% of music downloads are illegal download and are NOT paid for. There is SOME hope on the horizon. Internationally, 2008 saw a 25 % growth in LEGAL downloads for a dollar total of $3.7 billion dollars!
    Digital platforms on the Internet that sell LEGAL downloads have increased online and through mobile devices as a new generation of music subscription services, social networking sites and new music licensing channels are emerging. In 2008 digital platforms accounted for 20% of recorded music sales, UP from 15% in 2007!
    Identifying the type of music business and then implementing a strategic implementation for your business can help a lot to develop. The Music marketing plans are written for a couple of reasons. Primarily they are written by a record label so that they can figure out what they are going to do to get their recording heard by the public and eventually sell. Secondly, music marketing plans are written to show investors or other financial lenders that you have a clear picture of the music marketplace and how you will be successful with your label. Also it is important to remember that these plans are not seen directly by music fans or consumers. But your fans and customers react to the results of your plan when they hear and buy your music.
    As it said that there are no rules set for Marketing of music, the simpler to keep the better it gets.
    There are four things to remember for music business i.e. Artist & Product Development, Promotion, Publicity and Performance these four strategies steps are also known as the four steps to success.

    Artist & Product Development: The term "Artist Development" encompasses two general concepts. "Pre-Release" issues involve these jobs, tasks, and other considerations that an artist or band must do to create, protect and prepare a recording for the marketplace. "Product Development" issues are concerned with any and all things that must be done to get your music into the marketplace.
    Promotion: In the music business, the term "Promotion" usually means radio, TV "airplay" of music. Radio airplay is the most effective exposure for music, yet the most difficult to get. Promotion includes studying how labels and the broadcast media work together.
    It is very important to know how you promote you business and not what you promote.
    Publicity: Business is totally based on the publicity in which media plays a vital role. Choosing a medium for publicizing your music business can decide the face of the business. Learning how to work with magazines, newspapers, and fanzines, and how they choose music to review can make or break any new release.
    Performance: Live shows and touring is a cornerstone of marketing contemporary music. Booking agents, promoters, and venue owners are only part of the world of the live performance business. Knowing about life on the road, sound equipment, lighting, and putting a tour together are essential for any up and coming act. Finding Your Audience is a core function on building a chain of clients.
     
  2. daceymathers

    daceymathers Guest

    Music business requires a strategic planning and it must be done carefully and promotion is the main phase for taking tour business at heights.If your promotion is not performed properly then business will not grow therefore there should be more emphasis on music promotion.
     
  3. The music industry is a vast and varied place. Over the years it has changed significantly a number of times. There are many things that the artist can be doing such as personal grooming, selecting clothes, perfecting their outward image, attending music business conferences and so on. These things can have really good effects on a carrier of a artist.
     

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