Future of Music Coalition: The New Power Trio: Brands Bands and Revenue - midem 2012 presentation
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Future of Music Coalition: The New Power Trio: Brands Bands and Revenue - midem 2012 presentation

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Given by the Future of Music Coalition's Kristin Thomson at midem 2012, this is a "first look" presentation FMC's survey of 5,000 US artists, on where their revenues come from....

Given by the Future of Music Coalition's Kristin Thomson at midem 2012, this is a "first look" presentation FMC's survey of 5,000 US artists, on where their revenues come from.

It notably reveals that "merchandise and branding is only relevant to a small number of musicians"; grants, and funds from fans, are their two key revenue sources.

That said, sponsorshio has proven to be one of the new sources to kick in where that from labels may have dropped off. "Corporate sponsorship of videos has been a total revelation," said one US rock band.

The survey also found that artists are "increasingly strategic about their brands", investing for example in "dedicated merch guys", to quote one respondee.

For more information: http://futureofmusic.org/ars

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Future of Music Coalition: The New Power Trio: Brands Bands and Revenue - midem 2012 presentation Future of Music Coalition: The New Power Trio: Brands Bands and Revenue - midem 2012 presentation Presentation Transcript

  • The New Power Trio Bands, Brands and Revenue Kristin Thomson • Future of Music CoalitionSunday, January 29, 2012
  • Sunday, January 29, 2012
  • Individual musiciansʼ earning capacity.Sunday, January 29, 2012
  • Data collected through: • in person interviews • financial case studies • widely distributed online surveySunday, January 29, 2012
  • Over 5,000 US-based musicians, performers and composers completed the survey.Sunday, January 29, 2012
  • hours 40% spend more than 36 per week performing, composing, teaching or working on their craft.Sunday, January 29, 2012
  • 42% earned ALL of their personal annual income from music.Sunday, January 29, 2012
  • Primary genres for survey respondents: Classical Jazz Rock/Alt-Rock Pop • Composer • Singer/songwriter Folk • Indie • AmericanaSunday, January 29, 2012
  • Brand can include: Merchandise sales Acting Fan club income Product endorsements Persona licensing Corporate sponsorships Ad revenue Grants YouTubeʼs partner Fan funding programSunday, January 29, 2012
  • POINT 1 Merchandise and branding is only relevant to a small number of US-based musicians.Sunday, January 29, 2012
  • Apportioning music income 1. Musical compositions 2. Sound recordings 3. Performances 4. Session work 5. Merchandise 6. Teaching 7. OtherSunday, January 29, 2012
  • Income from merchandise In aggregate, income from merchandise Range by genre from 0.6% to 6.6% 2% sales accounted for about 2% of respondentsʼ revenue. N = 5371 Jazz: 0.6% Classical: 0.6% Country: 2.2% Hip Hop: 4.9% Rock: 6.6%Sunday, January 29, 2012
  • Changes in revenue from merchandise over past five years Decreased Stayed same Increased Donʼt know Not applicable 7.5 11.3 7 1.5 72.7 0% 25% 50% 75% 100% Percent of respondents N = 4072Sunday, January 29, 2012
  • Changes in revenue from merchandise over past five years Decreased Stayed same Increased Donʼt know Not applicable 7.5 11.3 7 73% of respondents: “not applicable” 0% 25% 50% 75% 100% Percent of respondents N = 4072Sunday, January 29, 2012
  • POINT 2 Artists have many other brand- related opportunities, but widespread participation is difficult.Sunday, January 29, 2012
  • Income from “other” revenue sources Income from “other” revenue sources 7% accounted for about 7% of respondentsʼ revenue. N = 5371Sunday, January 29, 2012
  • Deriving income from brand Grants Fan funding Corporate sponsorships Acting Web ads Endorsements Persona licensing Fan club 0% 2% 4% 6% 8% 10% 12% Percent of survey respondents who have received some income from these activities in past 12 months. More than one answer allowed. N = 5371Sunday, January 29, 2012
  • POINT 3 Artists are increasingly strategic about their brand.Sunday, January 29, 2012
  • DEDICATED MERCH TEAM “We have a dedicated merch guy now and he makes a big difference...” " " " " " " " " " " " " " " " " – US rock bandSunday, January 29, 2012
  • LIMITED EDITION MERCHANDISE “Coming to the shows, having one  of those shirts that only 200 people  have, they love feeling like theyʼre a  part of something special.” – Ben Weinman, The Dillinger Escape PlanSunday, January 29, 2012
  • LEVERAGING BRAND “...I think corporate America understands the influence of rap music and is using it to help promote their products...” – Jini Thornton, business manager for high profile hip hop artistsSunday, January 29, 2012
  • POINT 4 For jazz and classical artists, brand engagement is evolving. Sunday, January 29, 2012
  • BRAND IN NONCOMMERCIAL WORLD “[pursuing licensing or branding opportunities] would be a fun thing to do, but it takes away from our main purpose: to promote the artist with orchestras or with presenters.” – US classical managerSunday, January 29, 2012
  • BRAND IN NONCOMMERCIAL WORLD “Weʼre very aware that we exist in a niche. We need to bring people into the niche and deepen our relation- ship with them, rather than flinging ourselves all over the place.” – classical choral chamber groupSunday, January 29, 2012
  • POINT 5 Corporate sponsorship and fan funding fills in where labels may have dropped off.Sunday, January 29, 2012
  • CORPORATE SPONSORSHIP “For us, corporate sponsorship of videos has been a total revelation...” """"""""""""""""" – US rock bandSunday, January 29, 2012
  • FAN SUPPORT “Artists have to feel no shame about asking their audiences and their fans for support and money....” """""""" – US musician/performance artistSunday, January 29, 2012
  • The Takeaways 1.Not all musicians are able to leverage their brand. 2. For musicians and bands who can leverage brand, they benefit from being flexible, open-minded, strategic, and unafraid to involve their fans.Sunday, January 29, 2012
  • Future ARS data releases By role By location Composers and songwriters Music cities Touring musicians Session and freelance players By experience or training Emerging artists versus old guard By genre Conservatory or music school Jazz players and composers graduates Classical players and composers Label relationships Organizational affiliationsSunday, January 29, 2012
  • For more information http://futureofmusic.org/arsSunday, January 29, 2012
  • Sunday, January 29, 2012