Marvelous Marketer – Leave The Labels Alone! 3 Ways to Profit In The New Music Economy! [Editorial]

Posted on August 18, 2015 by

0



iampr 2

The labels are going out of business.

Their new model is to source income from the indie community with “Distribution Deals”, but they distribute and market nothing.

If you get signed, they are getting a slice of your income for doing nothing, except for you being in the “club” – being able to use their name to gain more deals and credibility with the mass market.

Below are 3 new methods we here at I AM PR Agency have used in the past to monetize music artists in short periods of time.

1. Subscription Method :
Alot of artists have followers, or subscribers. But they do not own them. They don’t maintain a mailing list of their fans. Facebook owns their list, Youtube, Twitter, etc. The fastest way to monetize your music brand is to engage your base daily, with amazing and original content and have those users flow to your website. Offer premium incentives for a paid subscription. Average conversion rate for this will be 1-10% of your total following in the beginning. [This is I AM PR’s main business model]

2. Tour Method :
Stop paying to open for artists. Instead, use your cash to put down deposits on venues, and to promote a show. Do this once per month. Put on the most entertaining concert you can. Partner with other indie artists to increase the draw. The first show may start out with 10-50 people in attendance, but if your show is entertaining, that number will grow month over month. [I AM PR used this method during our concert series “Rap Rocks” which started out with a draw of 100 people per month, then grew to over 600 attendees by the last show.]

3. Free Music Method :
By promoting free cover songs to your market, you can build trust with them over time. They will learn to like your style, voice, delievery, and will eventually be interested in an original song. With a PR component, you can use this content to build relationships with the media and produce the same effect. Once you’ve built enough trust in the market, people will be willing to purchase music, merch, and more. [I AM PR used this method with many artists for years, usually turning a brand that has “fallen off” to the hottest up and coming artist on the scene].

We’ve employed these methods for many years with varying degrees of success. Try them on if you don’t believe us!

iampr 1

Marvelous Marketers-final-cover