Overheard At New Music Seminar
New Music Seminar is taking place in full force today, here are just a few of the conversations happening on Twitter:
– Susan Boyle's sales are 97% physical.
– Music has a 10/90 rule — 10% of your fans will provide 90% of your revenue.
– Actually email is like a river – fans dip in an out of the information stream.
– Engagement makes money for artists, awareness does not.
– It takes 14 clicks to download music from Amazon without an account (12 on iTunes) vs. 4 clicks for typical torrent site. Streams take 1.
– Basically the music business today is where it was in 1967.
– Artists need to make sure they are easily findable on search engines.
– Primary focus of new artists needs to be finding a core fan base.
– 81% of all albums sold last year sold under 100 copies. But… there
were 5 tracks sold for every album.
– Even though it's now a singles market, many labels are still album-centric.
– Odds of winning the lottery are as good as a record deal and a hit. Actually the lottery has better odds…
– Artists, you may not want to hear it, but you have to look at yourselves as businesses.
– High awareness with low engagement is a hobby, not a business.
Perfect Niche Audience=40 and up age group
I call bullshit on the 97% physical component for Ms. Boyle. Not possible.
Susan Boyle %97 physical believe it or not, but it’s true. Think of her demographic. There are still a lot of people who don’t buy music online. It may not seem like it because you may be surrounded by many who do. Step out of the box and then you are surrounded by just as many who don’t. Crazy, but true.