In
less than a week, I will complete my Master’s Degree in Entertainment Business
at Full Sail University. My business and
my clients will garner significant benefits from what I have learned. Gratefully,
the coursework covered a full range of current trends in the entertainment
industry. For instance, I now have a much better understanding of digital
distribution, crowd funding and various types of marketing channels. Here
are a few key takeaways…
1. In today’s digital environment,
musicians can produce, manufacture and distribute their music without
assistance from a music label. But it’s important to understand the pros
and cons of these vital functions. I read a great article by Heather
MacDonald on About.com titled Music
Industry Myths: You Can Do It All Yourself. She discusses some items
you may want to explore as you make this decision. During my degree coursework, I had an
assignment to explore various digital distribution companies and the services
they provide to independent artists. It
was extremely interesting and informative. There are companies that will manufacture as
little as 20 CDs if that’s what you need.
Yes, you can make CDs on your laptop, but the quality will be much
better if you use a professional service.
2. There are also more ways to
attract investors to your project then just a few years ago. Crowdfunding
has become a viable way to build a fan base and allow them to contribute to
your efforts. Did you know that
crowdfunding can be traced all the way back to the Statue of Liberty? Raising donations is how the pedestal was
financed. I learned this and much more
about crowdfunding in my Finance class.
I found that Kickstarter.com
is only one of many sites that promote crowdfunding. Indie artists should also consider sites like
Indiegogo.com, Rockethub.com and Feedthemuse.net. And don’t forget about
mobile technology such as Square and other credit card readers to accept
donations and sell your merchandise at gigs.
Other companies like PayPal are developing this technology also, so you
have choices regarding which platform you use.
3. There are so many new ways to
market a band, such as a viral video, Twitter feeds, and even a flash
mob. Newer avenues include affiliate marketing and SEO optimization. Before my degree program, I was unaware of
how to utilize a number of these channels.
Now I feel much more comfortable with this technology. I also learned that we mustn’t forget about
the traditional marketing methods such as print advertising, public relations
and even email marketing. For my
business, old-fashioned cold calling will be a key way to market my clients to
venue owners. But I will absolutely make
use of numerous digital marketing avenues.
This trend continues to evolve with more options being made available
constantly. For instance, musicians and
bands are already on Twitter, Facebook, and have their own blogs. But soon they may develop their own apps to
promote their concert schedules, merchandise and music.
As
new trends develop in the music industry, my role as a music manager is to help
my clients navigate the best ways to market and distribute their music. This article on Hypebot.com
notes what’s currently trending in 2013. Obtaining my degree provided me with
the wherewithal to make sure that I’m leading them in the right direction.
Take
Care,
D
Leigh
Reference:
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