Music, Media and Multiple Streams of Income

Greg Rollett

Music Formats

• 8 Tracks• Vinyl• Cassette Tapes• CD’s• MP3• What’s next?

(the new file that is 1,000 times smaller than an MP3)

Napster

• Blender’s Number 1 Biggest Record Label Mistake of all Time

• What did it do?

• What did we learn?

• What about torrents?

Declining CD Sales - OK Digital Sales

• 48% of teens did not buy a CD in 2007• Biggest selling CD in 2005

– Mariah Carey 4.97 million

• Biggest selling CD in 2007– Josh Groban ‘Noel’ 3.7 million

• Soulja Boy - 3 Million Plus Ringtones sold • Digital downloads in 2006

– 588.2 million

• Digital downloads in 2007– 844.2 million

Selling music is hard, selling the music lifestyle is

easy(er)

Musicians Need to Make MoneyJust Not off Music?

How?• Live Nation – New 360 Jay-Z deal, Madonna & U2• Radiohead and Trent Reznor battle• Downloads - iTunes, Amazon MP3, Myspace Music• Streaming – iLike, Last.Fm, Pandora• Advertising – Adsense, other ad networks, direct sales• TV, Movies, Commercials – Licensing • Concerts – local, regional, national• Clothing – run it yourself or partner with a local company• Video – YouTube traffic is huge• Video Games – Guitar Hero, Rock Band, EA Sports• Blogging and Social Media (Digg for bands?)• Partnerships – get your local community involved• Corporate sponsors – Honda Civic Tour, Vans Warped Tour• CD’s – still a viable income source for musicians

Be Where Your Fans Are

• Crowd Participation– Where do you find new music?– Where/how do you buy music?– What social networks do you use?– What about at work / car?– How would you like to buy music? What’s

easy for you

Hopefully based on your answers

• When you are marketing / promoting, be accessible everywhere

• Think widgets

• Think viral

• Get people involved

• Emotions

• Network

How to be everywhere• Read blogs

– Mashable, Hypebot, Engadget, TechCrunch, Orlando Sentinel, suggestions)

• Be on every site that lets you have music, even if it’s just an embed code

• Blog on your own domain• Use all media

– Online, radio (internet, traditional, college), print (mags, books, newspapers, weekly’s), tv (cheap late night advertising on Fuel or niche cable sites)

• Eliminate cost by creating income