Between illegal downloading sites, online streaming and artists trying to compete with this; there is a lot of free music out there. In fact if you are not picky about the music you’re listening to, you could be in the position to never have to pay for music. YouTube for when at your computer, Pandora on your phone for when you’re on the move, the radio in your car… this not even including the music you can download for free, rip on to CDs, or upload onto your preferred MP3 player. This increase in the availability of free music has sent the music industry into frenzy. Music fans are going crazy – loads of music, for free – GREAT! But are also overwhelmed by a whole variety of music. Record labels and artists are feeling the pinch – more free music = less music sales? There have been many articles over the last few years attempting to justify and explain the reasons behind the decline in music sales; free music, recession and poor quality of music being just a few. Although most of these articles make good points, none of them can completely justify the changes in the industry.
Music Week reported this week that US sales reach a new low; “It is 1,019 weeks since SoundScan started compiling US sales data for Billboard and in that period - which started on March 1 1991 - sales have never been as low as they were last week, when just 4,832,000 albums were sold.” Record labels are in panic – they make their money from record sales, not live, not merchandise, not synchronization.
Sites that satisfy fan’s demands for free music are struggling too. GrooveShark is effectively done, after both Universal and EMI decide they are suing the music site. Bandcamp has had to change its business model to a paid service – “Free isn’t free, nor is it forever.”
All is not lost though – creativity and innovation from artists alone, or with help from their record labels, has opened up a whole number of ways for artists to make money. Hypebot last week had a great article on how Amanda Palmer (of the Dresden Dolls) has made $19K on Twitter in 10 hours. Whether it’s through selling a larger variety of merchandise (or just the random junk in your bedroom!), organizing spontaneous gigs, or requesting donations from fans in exchange for being put on guest list for a special band event – there’s plenty of innovative ways to make money. It’s well worth exploring new ways to make money for your band - whether it be exploiting social networking, selling something a bit different or taking advantage of your fan’s generosity (donations please!).
Whilst the music industry sorts it’s self out and creates a new modern model, we all have to hope that musicians continue to make music for creativities sake, rather than the money they can make from selling the music.
September 17, 2010