'Marketing' THE artiste, PART 2
The following is an excerpt of the talk show programme titled 'INSIDE THE MUSIC BIZ' co-hosted by Thaddeus "Teddy" Laidley every Wednesday at 3:30 to 4:00pm. The programme is aired on HOT 102 FM during "THE HOT MIX", with Richie B 2:00 to 5:00 PM. 'INSIDE THE MUSIC BIZ' is aimed at offering insights into the music business for aspiring artistes and industry personnel
This week we continue the discussion on marketing the artist, but this time the marketing plan will not be analyzed as a static instrument, instead it will be pictured as the blueprint to navigating this vibrant and dynamic industry, driven by technological advances and the digitization of music.
Trends in global music sales
- More than 500 online music services available in over 40 countries at the end of 2008
- Portable player (iPods, Zune, etc) sales grew 15% in 2007 to 140 million
- Record companies’ digital music sales are estimated to have increased 53% in 2007 reaching 1.7 billion legally downloaded tracks
- Social networking sites exploded in popularity and advertising-supported models such as imeem emerged as a potential revenue stream for record labels. In 2007 and 2008 major record labels signed agreements with imeem, youtube, kyte, myspace music, etc in exchange for a percentage of ad revenue
- There were 220 million ring tone purchases in 2007 resulting in sales of $567 million.
Based on these global trends, the shift to digital has redistributed importance up, down and across the traditional marketing plan, creating new areas of priority and in some instances allowing for a significant reduction in your marketing budget.
Lyrics and mp3