Fans: The New Source of Music Cash Flow

As I said in a recent YouTube video clip, the music business these days is like the Wild West. No one knows exactly how things will shake loose. No one can truly predict the future. Therefore, the best way to proceed into this new frontier is to do what everyone else is doing: Making things up as they go along.

So have some fun with your marketing and career development!

One cool concept is the fan-funded model. Kristin Hersh and Scott Andrew, among others, have effectively asked their fans to help them fund their recording projects. But now there are entire web sites set up to help indie artists collect money from their fans.
Sellaband.com and Slicethepie.com are two such sites. This Wired.com article by Eliot Van Buskirk spells out more details, but here are some interesting numbers:

Anyone can become an investor in a SellaBand artist by buying an advance copy of an album and a single share in the recording for $10. The site has raised more than $1.5 million from more than 25,000 investors. They've deposited an average of $50, but investments have run as high as $25,000.

Out of 6,500 bands, 14 have reached the $50,000 mark, which is when SellaBand helps find a studio and a big-name producer to record the album. (SellaBand artist Cubworld got paired with Gwen Stefani's producers.)

Slicethepie lets fans pay $10 for a share in the album and a free digital copy ... The site has raised $400,000 so far, while attracting 7,800 artists. Bands only get funded if Slicethepie's blind-listening reviewers -- who generate 10,000 reviews a day -- rate them in the top 2 percent of new artists. Reviewers are paid 2.5 cents per review, with bonus pay if they pick bands that prove popular.

I've been preaching the Focus on Fans sermon for years now. They are -- and have always been -- your greatest asset. Why not tap into your fans for financial support beyond buying CDs, concert tickets, and merchandise. Whether you use one of the sites above or not, allow your fans to play an even bigger part of your success story.

Welcome to the Wild and Wacky World of Music Business Change. Are you mixing it up and experimenting with different ways to get exposure and generate revenue? If not, you should be.

Whatever you do, don't make the mistake of simply watching from the sidelines. Get busy ... and have some fun!

-Bob


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What's Your Music News Hook?

What exactly is a news hook? It's an idea that you pitch to an editor or writer. It's a story angle that is newsworthy and that should appeal to the readership of the publication in which you're wanting to get exposure.

News hooks are suggestions you make to media people via press releases, cover letters, e-mails or phone calls. If your news hooks are strong enough, lots of editors and writers will bite and cover you in the press.

So who or what should your news hooks be about? Most musicians put themselves front and center. And that makes sense, right? After all, they are trying to promote themselves. The drawback with this approach is that the focus is on the artist ... and not on the needs of the journalist.

To be a successful self-promoter, you need to learn to craft news hooks that keep the interests of the media person and his or her audience foremost in mind.

Want some good and bad examples?

"Great New CD Out Now by Local Band!"

Sorry, but this is not a very effective hook. Thousands of CDs come out every week. Yet another new one from another up-and-coming artist is not "news." Dig a little deeper.

"New Music CD Celebrates the 10-Year Anniversary of the Monica Lewinsky Scandal"

I know, this one is bizarre. But admit it, when you read it, you probably thought, "Now that's a weird concept for an album. I wonder what those songs would sound like?" Imagine what fun you could have with the song titles. A news hook like this stands out because it has a specific story that separates it from "here's another rock or pop or hip-hop CD."

"Look Out World: XYZ Is the Band to Watch in 2008"

This is a classic example of the over-hyped PR pitch. Most journalists roll their eyes at this type of bombastic announcement before tossing it in the trash (or hitting the delete key). Don't tell people how awesome you are. Paint a descriptive positive picture, but let the journalist determine the adjectives.

"Punk Rocker Offers 5 Tips for Overcoming Addictions"

If you have a significant personal story to share, feel free to make it a part of your news hook, especially if your experience can help other people. Have you overcome a personal obstacle, fought a deadly disease, feel strongly about a cause, or experienced something extraordinary? Chances are, people will want to know about it, and the music media may very well be eager to cover it.

So, let me ask you ... What's your music news hook?

-Bob

P.S. For more music publicity tips and tactics, check out the Indie Music Publicity Home Study Course or Killer Music Press Kits: Deluxe Edition.

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What Do YOU Want in a Music Conference?

As you may know, I'll be presenting the first Indie Buzz Bootcamp music conference June 20-22 in my hometown of St. Louis, MO. If you've read my early description of it, you also know that I want to make this a weekend workshop event unlike any other in existence today.

While I have some definite ideas about how I want to present this life-changing event (solo speakers instead of panels, a focus on education and action plans instead of showcases and parties, etc.) I'd love to get your thoughts on what you'd like to see in a music conference.

Please consider the following questions, then click the comments link below and post your responses:

• What's been missing from the music conferences you've attended in the past?
  
• What would you really like to see in a weekend event dedicated to indie music career success?
• What topics would you like to see covered?
• Who would you like to hear speak?
• What factors would motivate you to attend?

Thanks in advance for giving me your honest feedback. I'll give consideration to all the responses and incorporate the ones that make the most sense.

-Bob

P.S. Register to win a pair of free admissions to the Indie Buzz Bootcamp here.

P.P.S. If you're on Facebook, I have an event page for the conference here.

Check out Guerrilla Music Marketing Handbook, the classic guide to indie music promotion. Now revised and updated, with four new chapters on Internet and Web 2.0 music marketing. Get more details here.

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Frank Zappa on Music Industry Change

I'm guessing this video clip is about 20 years old or so. (Frank Zappa died in 1993.) It's interesting to hear this innovative musician's views on the recording industry in light of what's happening now.


You can also watch it on this page at YouTube:
http://www.youtube.com/watch?v=8UAWqwLjN70

-Bob


Register now to win tickets!

Does Business Ruin Art?

An anonymous musician just posted this comment regarding my latest podcast episode:

"Business ruins art. It's unfortunate that most people are reshaping their musical goals to fit their financial ones. All this just makes me want to keep music a hobby instead of a profession so I don't feel like I have to make crappy, watered-down poop music."

Here's my response:

I understand the frustration that mingling art and commerce can create, especially when it comes to music and "big business" -- where quick results and bottom lines rule.

But let me ask you something ...

Does holding a general belief that "business ruins art" empower you? Only you can answer that, but there's no denying a belief like that colors how you feel about music and how you interact with the world.


All mental beliefs -- whether positive, negative, or in between -- are simply perceptions that an individual has chosen to buy into. None of them exist as objective truths in the real world. They only exist in the thoughts of each person who decides to let certain beliefs take up permanent residence in their minds.

Here's the belief I have chosen to give free lifetime room and board in my brain: There's nothing wrong with wanting to be compensated for the value that your music delivers to fans. It's healthy and natural to want to grow and prosper.

But if you can't get over your hang-ups about music and business and money, then do yourself (and the rest of us) a favor ... and play music as a hobby for the best reason of all: the love of it.

That's what I believe. How about you?

-Bob


Make the most of the world's biggest social networking web site with this great primer on MySpace Music Marketing. Available in paperback or ebook format. Get more details here.

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How to Get a Record Deal

Want to know how to get signed to a major label? Interested in grabbing the attention of a record label A&R exec? Well, Music Connection magazine spilled the beans in a recent issue.
On my latest Artist Empowerment Radio podcast, I reveal their secrets and give you my own advice on how to increase your chances of having a successful music career and gaining music industry attention.

Start listening to How to Get a Record Deal now.

-Bob

Ready to Transform Your Musical Life?

Mark your calendar for June 20-22 in St. Louis, Missouri. That's when I'll present Indie Buzz Bootcamp, a life-changing, one-of-a-kind weekend event. Join me, Derek Sivers (of CD Baby), music publicist Ariel Hyatt, and other visionary speakers who will inspire you. Register to win free tickets!

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How to Quit Your Day Job

"Twenty years from now you will be more disappointed by the things you didn't do than by the ones you did do. So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover." -Mark Twain

So begins a recent post on Leo Babauta's incredibly useful Zen Habits blog. In the post he announced that he had quit his job and would become a full-time blogger after just one intense year of high-quality blogging. (He also just announced a book deal with a major publisher.)

How did Leo do it? And what can musicians learn from his example? I mean, the guy is married and has six kids. Plus he lives on Guam. It's not like he's been hobnobbing with the social elite in LA or NYC (like Perez Hilton).

Luckily, Leo explains what he did to quit his job on this page. You may not aspire to be a full-time blogger, but his "habits" can be applied to any field.

Here I've paraphrased his main points:

• Create from the heart.
• Be insanely useful (serve your fans).
• Focus your efforts and your creativity.
• Ask for donations.
• Create and sell something.
• Interact with your supporters
• Transition from your day job.
• Get out of debt and build an emergency fund.

But do yourself a favor and read his entire blog post on the subject. It just might inspire you.

-Bob

Check out Guerrilla Music Marketing Handbook, the classic guide to indie music promotion. Now revised and updated, with four new chapters on Internet and Web 2.0 music marketing. Get more details here.

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