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musician-opportunity

In music, and in life for that matter, opportunities pop up when you least expect them, and it’s your job to be ready. These opportunities could be anything from a pick up gig, to a publishing deal to a chance to collaborate with a local musician. Either way, the artists that can react quickly are the ones who succeed.

It’s good to think about the possible outcomes of your actions before you do something. After all, you can’t fit everything in your busy schedule and no one wants to do something they will regret later. Learning how to pick your chances is very important.  But over thinking an opportunity can be just as bad as under thinking. There comes a point where you need to just decide to take the leap or not!


Download my most popular ebook, Hack the Music Business, for free and get more indie musician strategies and case studies.


Let’s take a look at Amanda Palmer, a very famous indie artist and avid social media user, who made $11k in two hours by jumping on an opportunity. And this was well before her celebrated crowdfunding campaign.

Palmer was tweeting with her followers about how she was once again alone on her computer on a Friday night. Fans joined in the conversation and a group was quickly formed – “The Losers of Friday Night on their Computers.” Amanda Palmer created the hashtag #LOFNOTC and thousands joined the conversation. In fact, it became the #1 trending topic on Twitter.

When a fan suggested a t-shirt be made for the group Palmer ran with the idea, sketched out a quick shirt design and threw up a website that night. The shirts were available for $25 and two hours later Palmer had made $11,000! It would have been very easy to just disregard the fan’s comment and sit on the couch watching Netflix for the rest of the night. Nothing bad would have happened if she hadn’t designed the shirts in the spur of the moment and commited to the project, but nothing good would have happened either!

Want to know the other 9 musician mistakes?

  1. You Don’t Have a Plan
  2. You Aren’t Leveraging Copyright
  3. You Skip Time Management
  4. You Don’t Have a Team
  5. You’re Not Out There Networking
  6. You Don’t Focus on a Niche
  7. You Don’t Let Your Fans Market
  8. You Don’t Have a Brand Strategy
  9. You Overuse Free Music

New-Artist-Model

In the New Artist Model online course we will help you set goals for your career so you can better judge the value of an opportunity. You will learn about the power of your fanbase and collaboration and the opportunities that come with them.

 

Here’s a great post by Mike Masnick.

“As you look through all of these, some patterns emerge. They’re not about getting a fee on every transaction or every listen or every stream. They’re not about licensing. They’re not about DRM or lawsuits or copyright. They’re about better connecting with the fans and then offering them a real, scarce, unique reason to buy — such that in the end, everyone is happy. Fans get what they want at a price they want, and the musicians and labels make money as well. It’s about recognizing that the music itself can enhance the value of everything else, whether it’s shows, access or merchandise, and that letting fans share music can help increase the market and create more fans willing to buy compelling offerings. It’s about recognizing that even when the music is shared freely, there are business models that work wonders, without copyright or licensing issues even coming into play.

Adding in new licensing schemes only serves to distort this kind of market. Fans and artists are connecting directly and doing so in a way that works and makes money. Putting in place middlemen only takes a cut away from the musicians and serves to make the markets less efficient. They need to deal with overhead and bureaucracy. They need to deal with collections and allocation. They make it less likely for fans to support bands directly, because the money is going elsewhere. Even when licensing fees are officially paid further up the line, those costs are passed on to the end users, and the money might not actually go to supporting the music they really like.

Instead, let’s let the magic of the market continue to work. New technologies are making it easier than ever for musicians to create, distribute and promote music — and also to make money doing so. In the past, the music business was a “lottery,” where only a very small number made any money at all. With these models, more musicians than ever before are making money today, and they’re not doing it by worrying about copyright or licensing. They’re embracing what the tools allow. A recent study from Harvard showed how much more music is being produced today than at any time in history, and the overall music ecosystem — the amount of money paid in support of music — is at an all time high, even if less and less of it is going to the purchase of plastic discs.

This is a business model that’s working now and it will work better and better in the future as more people understand the mechanisms and improve on them. Worrying about new copyright laws or new licensing schemes or new DRM or new lawsuits or new ways to shut down file sharing is counterproductive, unnecessary and dangerous. Focusing on what’s working and encouraging more of that is the way to go. It’s a model that works for musicians, works for enablers and works for fans. It is the future and we should be thrilled with what it’s producing.”

Read a lot more here.

Great post from Mashable about how artists are creating upgrades and enhancements to music business models. Earlier Mike King reported in his blog how Amanda Palmer made $19,000 online using Twitter on a Friday night. The important thing is not the fact that she used Twitter, but that she found a way to engage her fans and make money, on top of the traditional approach of trying to sell CDs or tickets.

“Amanda is not producing money out of thin air, or by swindling some people into buying something they do not want. She’s engaging her fans who are glad to be able to buy some merchandise directly from the artist. Secondly, she’s not a professional PR or a marketing professional; she did it by engaging her audience through the simple tools at her disposal.

Which brings me to my most important point: Twitter is just a tool in this case. Her 30,000 Twitter followers aren’t just people who she followed and then they followed her back; they’re not some random mass of people who just happen to be following Amanda Palmer. They’re her fans, which means that any artist who has fans can do the exact same thing. It’s not a one-time thing or a passing fad: true fans will always be interested in buying a t-shirt, attending a secret gig, or getting their record signed.

We’re still at a very early stage in the online music revolution. Soon, artists will have a multitude of tools to help them communicate with their audience, offer them extra value and, last but not least, make money.

Ultimately, we’re not talking only about replacing current business models; we’re talking about upgrading them; finding new, better business models. You think that the music business is fine as it is? It’s not. It scales awfully. It’s great if you’re hugely popular, but if you’re an indie artist, the big record companies don’t care much about you. As Amanda bluntly puts it:

“TOTAL MADE THIS MONTH USING TWITTER = $19,000
TOTAL MADE FROM 30,000 RECORD SALES = ABSOLUTELY NOTHING.“

These new tools, such as Twitter, will help the entire music business scale much, much better. Very popular musicians such as Radiohead will still make a lot of money. But relatively unknown artists, by promoting their work and selling stuff directly to the fans, using free or inexpensive online tools, will be able to make a better living than they do right now. The future might not be very bright for the big record companies, but it is indeed bright for the artists.”

Read more here at Mashable.