Physical albums sales are down just 4%.
That’s compared to being down 19% at the same point last year.
Digital album sales are up 19.1% in 2011.
That’s after being up 13.5% last year.
THOUGHT: The music industry is clearly still going through a transition and the question remains: How do you make money off of music when so much of it is free?
Musicians and bands trying to make a name for themselves are giving their music away directly to fans on SoundCloud, to music bloggers, and they’re uploading homemade music videos to YouTube.
There are two aspects of music that get fans excited: Sharing new music they’ve discovered and the experience of a live performance by their favorite bands and musicians.
The former behavior can now be done almost exclusively through social media but concerts are an experience shared typically only among yourself and a handful of friends who all attend a performance together.
The best concerts are remembered decades later.
Seventies arena rock star Peter Frampton is tapping into that dynamic by selling fans the recordings of the concert they’ve just attended. Even though I missed his Frampton Comes Alive 35 tour date at the State Theater in Minneapolis last month, I can still buy the concert recording of that performance in the form of a 4 disc CD set for $35.
If I didn’t want to pay for the concert tickets, I could opt for the recording of that concert after the fact. If I did attend the concert, it’s likely I’d buy the recording because I would want to preserve and relive the experience.
It’s a brilliant idea that is a scaled down version of my brillianter idea but a great example of the MeTailing trend.
FOLLOW FRIDAY: Arik Hanson’s Help A PR Pro Out (HAPPO) is a fantastic resource for those looking for communications talent as well as for communicators looking for work.
Thank you for music.
GET THESE INSIGHTS DELIVERED DAILY TO YOUR INBOX:
- Music Marketing Through Blogs, or How I Tuned Out & Discovered New Bands
- Turning Criminals Into Customers
- The End Of Nostalgia Marketing
- Consumers Finding & Sharing Daily Deals
- Musical Genres & iPod – Harness The Wisdom Of Crowds