Video: Trent Reznor’s New Model For Music Business Profits
During MidemNet Techdirt's Mike Masnick gave this overview of Trent Reznor of Nine Inch Nails' album release and monetization strategy. At the risk of gushing, this is a must see for anyone who a part of or even interested in the new music business. I'll let the video and Masnick's accompanying article do the talking. But in case you need more convincing before you hit play, here is the "formula" at the core of the presentation that I agree is the most viable path remaining to make money in the music business:
Connect With Fans (CwF) + Reason To Buy (RtB)
= The Business Model ($$$$)
= The Business Model ($$$$)
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The marketing and promo strategies outlined in this presentation were clever enough to make me curious about the music. So I checked it out – and I give a lot of credit to people who work at this stuff and apparently have an audience, but IMHO it’s kind of like nine inch nails on a blackboard. Kind of makes me wonder whether “better living through chemicals” is our dark karma-slap on the back of the head. BTW makes me nostalgic for Talking Heads.