This video showcased where music is headed in the near future. Since record sales are at an all-time low, independent artists are starting to find alternative ways to receive income for their music. This is a very important turn in the music industry and is starting to turn the tables in the artists’ favor. Because of these types of avenues, record companies are starting to have artists’ sign 360 deals, where the record companies are making revenue from all sources of income from the artist instead of depending on only CD sales. 360 deals sounds scary for an artist because now the record companies has their hand in all sources of revenue and I feel this could get very confusing and intense later. Independent artists have all the tools needed for effective branding and shouldn’t have to resort to submitting to record companies when avenues like social media and YouTube are available.
Contracting music from independent artists’ evens the playing field when it comes to the music industry. There are so many doors opening for independent artists and this blog proves that contracting your music can be very beneficial when it comes to corporate advertisement.
Music Dealers. (2011) Industry News Colbert Enlists Bands in Sell Out to Madison Avenue. Retrieved February 5, 2011, from http://www.musicdealers.com/blog-entry/2011/1/14/industry-news-colbert-enlists-bands-in-sell-out-to-madison-avenue
| The Colbert Report | Mon - Thurs 11:30pm / 10:30c | |||
| MeTunes - Grammy Vote - Dan Auerbach, Patrick Carney & Ezra Koenig | ||||
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You're right! In order to be successful, artists will need to find as many new and innovative ways of generating revenue as possible. While it's difficult to adjust from the traditional model, whoever succeeds at generating alternative revenue sources will continue to exist, while others who fail to innovate will fade away into history.
ReplyDeleteKeep up the great insight!