There are countless articles that have been circulating the internet for years now on how music piracy is killing the music industry at the expense of starving musicians and all others directly involved in the industry. There are still many new bands that attempt their luck and talents starting from nowhere other than their garages and basements, without any doubt that the very vast majority of these artists cannot make it past a few local gigs and a thousand or so online fans. These bands are often composed of young adults and adolescents, studying at least part time, and keeping a job in order to be able to fund their musical passions.
When music industry started seeing a dip in sales, bands had a much harder time making a living on album sales and touring. Licensing songs to commercials has become standard since 2008. Pop singer Santigold led the way, penning tracks for brands like Ford, Converse, and Bud Light Lime, and agreeing to have her music played in Target. Self-recorded music that’s done on a budget is what consumers and people are relating to these days. These days, merchandise sales make up a pretty big portion of most touring acts’ income.
The staples of CD’s, shirts, and stickers have become even more important as income from performing has gradually dropped. There are many things that bands are doing to order merchandise and how they should sell their products, but there doesn’t seem to be much on how to get the best possible pricing from vendors, how to calculate prices, or how much product should be ordered before a tour. Bands are exploring custom merchandise, but it’s important to balance the “cool” factor of having variety with what actually sells and what you can make money on.
Streaming music on the internet freely is growing at a faster pace. Accessible content are being used by a growing number of listeners as a substitute for buying music in stores. But the music industry has a new Internet problem. A decade ago, the major record labels began to worry about online piracy, in which people illegally swapped music over peer-to-peer networks. Partly in response to the piracy threat and partly due to sliding CD sales, music companies began to experiment with licensing their records to new online services.
Overall music sales continued their years-long down slide but revenues from digital download services are growing stronger. But they’re not generating enough revenue to make up for the sharp decline in CD sales. Overall spending on music is forecast to shrink according to a recent report. This decline is making industry veterans think differently, many bands are looking at other ways they can squeeze value from the growth.
Mutrs is the worlds first exchange market for digital content
Artists can list IMOs from 1m to 5m shares as Singles, Albums, Boxsets -even Collectors Editions– for audio, photos and videos. Then Fans of music, worldwide, can invest in digital content.
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