New Music Economy

The technological breakthroughs and the resulting consumption behaviours, that the media industry has seen, have deeply influenced the whole music industry’s operation. Although it is yet too early to estimate if the digital music market will generate as much revenue as the physical music distribution, the viability of the recording industry sector’s old paradigm based on control and scarcity is at least reconsidered.

This paradigm no longer suits the way that music consumers respond to marketing messages. Historically, audiences used to respond by buying the music. Nowadays, the audience’s action does not turn into financial profits. The new innovative tools that digital technologies have provided to the audience allow them to respond in completely different ways. Nowadays, it is arguably said that the audience’s action shows itself on the cloud: at its most, the audience goes on various media-sharing websites such as YouTube to consume the music, they communicate their fondness for song or artist on fan-sites, music forums and social networking sites such as Facebook and Twitter. Some of them make cover videos and remixes of their favourite music and post them on the cloud. At its worst, they illegally download the music on peer-to-peer networks. More often than not, they can do both.

Though, this response to the marketing messages, appearing on such a powerful medium, creates a feedback loop reinforcing marketing messages. It can play a critical role in the music marketing dynamics. This loop can give rise to trends, exposure of artists which are critical for the success of artists, making the audience as an active player in trendsetting.

The ability to control the audience’s action by targeting various marketing messages is at the core of music marketing. And more than ever before questions arise. What kind of marketing messages bring about the most positive response from the targeted audience? How to generate revenues from online audiences’ activity?

The user-centred functioning of the Internet and the growing devaluated perception of media content on behalf of the Internet consumers have led the entire record industry sector to rethink its value-chain. The major record companies’ reluctancy to enter the digital market gave a place for new players that were beforehand external to the music industry. Such companies like Apple that has implemented the Itunes music store. These new major players as well as numerous other innovative companies such as DittoMusic, came up with the new marketing strategies that lead to think about the record industry sector in another way. These players are simply redefining the recording sector in accordance with new rules in the market.

What exactly Facebook new algorithms mean for musicians?

In recent times Facebook has announced some changes the company is about to make in the nearest future which every musician should take into account.

One of the changes has become an update to News Feed, where there will be less opportunity to be noticeable with promo messages such as “My new tune is out now via iTunes, for buying click the link below”. If you’re not already having a natural conversation with your fans, this might cause some problems for communication with your audience.

The next changed which is going to happen is a nearly demise of Click-Baiting Headlines. “Click-baiting” is when a publisher posts a link with a headline that encourages people to click to see more, without telling them what exactly they are about to read and see. However, according to recent research 80% of the time people preferred headlines that helped them decide if they wanted to read the full article before they had to click through.

The third changes worth to be mentioned is importance of video content. Compared to 2013, video on Facebook in 2014 has become an integral part of the experience, with preferential treatment and auto-play capability being given to native video on the platform. All these led to signifiant growth in video since May 2014 on the social net. Indeed, just have a look on statistic that Facebook videos receive 70 percent more engagement on Facebook than embeds of videos from YouTube on Facebook, which means Facebook is about to become a huge video content platform in 2015.

But what all these mean for musicians then and what you should do?

  • Replacing the traditional “go buy our album” text posts with smarter creative video posts.
    For example it might be your personal appeal to your fans with information about new EP, your tour dates etc. Just replace the retail post with the retail video. At the same time your message will have a personal character which is so important nowadays and will follow the latest trend – Facebook as a video content platform.
  • Provide your fans with crystal clear and short headings in your posts. Let them know in advance what they are about to read or see, otherwise your posts are likely to be scrolled down.

All these rules are very simple and easy to follow 🙂

YouTube Channel as a crucial part of social media strategy for musicians.

In this day and age, record companies have almost been replaced by independent artists, for whom YouTube is playing a crucial role. Millions of singers have bagged a record deal after being found on YouTube!

Creation of video content is such an important and perfect task when you live in fast-paced world of sharing and downloading. Video might be shareable and what is most important here, it always has a potential to go viral.

Like many other social networking sites, you can also interact with your audience (I would even say it is a must!). In my previous post I mentioned some basic rules which you should follow on Facebook, Twitter, so let’s discuss your opportunities on YouTube Channel. People who view you videos can share it, ‘like’ and ‘dislike’ your work, they are able to leave comments (sometimes not polite, but it’s a reality of business where you are about to step in, so be ready). YouTube gives you a wonderful chance to communicate with your audience, show yourself, tell your story. And these people are your potential investors, so please do treat them well!

Sharing videos online is a very easy task. To start with putting your video on YouTube, you can also insert it into blog posts and of course share on your social media profiles. However, putting the content ‘out there’ often isn’t enough to stand out.

If you’re a YouTube newbie, the information below is definitely for you:
Sharable Content

The key to YouTube success is uploading videos that people will appreciate and keen to share. Therefore, by uploading content that people want to see and listen, you’ll be able to reap the benefits. You can try for example to record a cover of the ‘song of the moment’ which will help to increase interest in your profile.

Remember successful story of “I See Fire” – Ed Sheeran Cover by Alice Olivia? She has got 6,5 mln views so far 🙂

Tag Your Videos

Like Instagram, YouTube has a ‘tag’ feature, and you should do most of it! Make sure to tag your video with everything that is relevant. This will help you to increase the visibility of your video.

Don’t forget, the more visible the video, the more likely it is to be shared 🙂

Also, make the most of the YouTube categories by placing your content in the most relevant places. Again, it will help you to be sure the right people see your videos.

Regular and Consistent Updates

Social media is a great way to raise your profile, and build a fan base. But it doesn’t happen overnight. So if you’ve worked hard to build up a YouTube community, you should make an effort to regularly update the channel.

You should also make an effort to reply to as many comments as you can. Obviously if you have thousands of subscribers it’s not possible to track them all. You should however, make sure you have an active presence.

Analyse Your Big Data

YouTube offers free analytics through its ‘insights’ feature. You can easily see a lot of valuable information about every video you’ve uploaded. This includes a demographic overview of the people who’ve viewed your video, and how they found you. This will help you when it comes to creating future content so make sure you use this feature, and of course it’s very important for you to understand the market and where your fans are based.

By following these easy steps, you should be able to seamlessly integrate YouTube into your current social media strategy.