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Music Social Networks: a new way of sharing and buying music online
 

Music Social Networks: a new way of sharing and buying music online

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In the oral presentation of my thesis, we were allowed to complete and pursuit our thesis reflexion through a new thesis's idea. I decided to explore and use the interesting and pretty famous Music ...

In the oral presentation of my thesis, we were allowed to complete and pursuit our thesis reflexion through a new thesis's idea. I decided to explore and use the interesting and pretty famous Music Social Network, "My Major Company". I analyzed it and found, that Music Social Networks are the present and the best future way for sharing, promoting and buying online.

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    Music Social Networks: a new way of sharing and buying music online Music Social Networks: a new way of sharing and buying music online Presentation Transcript

    • October, 8th 2010 ORAL THESIS PRESENTATION: Digital Music Social Networks: a new way of sharing and buying music online. Performed and created by: Alexandros MORAITIS, REP International student, 4TC18. For Elizabeth ALBRYCHT, and Virginie BERGER.
    • Contents I - Main reminders of our thesis The subject. The problematic. The analysis. Theories summaries: ‘Do it yourself’, ‘Direct To Fan’ & ‘Reason To Buy’ and the Michael Masnick case study. II – PROFESSIONAL OPINION Interview with GOOM RADIO NYC III – How social networks can promote and sell music online?: My Major Company (MMC) case study: ‘music is your business’
    • I - Main reminders of our thesis Reminders Subject: Digital music business in the music industry crisis. Problematic: How digital music business model can be used and integrated to the current worldwide music industry crisis. Method: International Digital Music Business Models & Strategies. Thesis master advisor: Virginie Berger: Music Marketing Machine, Music business analyst, strategist, digital marketer.
    • I - Main reminders of our thesis = Global digital music revenues grew up by 12% in 2009 totaling US$ 4.2 billion in trade revenues (IFPI Digital Music Report).
    • I - Main reminders of our thesis conclusion Digital Music Business Model = a new evolution to the music industry Business strategies = make more connections between artists and fans Majors and independent labels use more these online models in their artists’ communication: Lady Gaga case. Connect with Fans (CwF) + Reason to Buy (RtB) = Business Model (by Mike Masnick from Techdirt’s weblog, after made a case study on NIN’s Reznor strategy). Extract Video (3 minutes): How Trent Reznor and NiИ represent the futur of the Music Business? A case study by Michael Masnick. The ‘Direct to Fan’ (D2F): connections between the artist and their fans (merchandising, entertainment, exclusivity, etc).
    • II – PROFESSIONAL OPINION Short interview with GOOM RADIO NYC 1) What do you think of the ‘digitalization of the music’ of these last five years? 2) How are you going to adapt your online communication and promotion strategies to your artists, in the current and online worldwide context? 3) What is the company and your opinion about the actual Digital Music Business? Is it going to save money and reload the music industry’s sales? Do you believe in the long success of music social network in case of promotion and sales of music?
    • III - How social networks can promote and sell music online? ‘music is your business’ Presentation: Social Network connecting 3 people: artists, internet users and music professional. Goals: Finance, produce and launch a record and a musical carrier. Make money back to all the actor and contributors of this online system. Get involve the three parts and pay everybody. Artist and Digital Music interests: Big artist autonomy; effective digital promotion ; public’s decision. Invest online music in MMC; build and share fans communities. Interest artist income: 20% on the MMC formula (receipt) including taxes.
    • III - How social networks can promote and sell music online? Artists can be produce by online producers MMC goes farther than Bandcamp: 13,805 artists (on 07/10/2010) 96,533 producers 24 artists officially signed MMC produced the artist album , WARNER Music distributed Interactive way to include fans in the artist support and creation of music Incomes shared between the fans, the artist (contract incomes) and the company producer (MMC) of the digital concept.
    • III - How social networks can promote and sell music online? Online users/producers take several decisions about the creation and promotion: -Cover of the album -Press visuals and press pictures -Number and songs versions of the album -Synopsis of videoclips -Single to send to radio, etc… Direct to fan application: Producers/users can create, share and encourage their artist thanks their own creation. = support of the artist = creation and reinforcement of the artist community = get more involved into the producers’s artist missions.
    • III - How social networks can promote and sell music online? Conclusion of this Case study: Creation and shared of an online community for the artist Social Networks and digital music strategies (give reason to buy, do it yourself, and direct to fans) are strongly used The thrue fans = online producers, good for the artist but confusing for the music industry MMC is the future of Digital Music. Everybody get evolved.
    • Our personal recommendation: • Follow MMC example, but make the difference communication (speeches, PR) • Always stay tuned of the actual digital tools for promoting and sharing music • Stay ‘connected with your fans’ • Share music and always give your fans a ‘reason to buy’ • Organize yourself and your goals (DIT) • Always define and learn precisely your target, before to define and promote (Public Relations, Promotion Speechs) music’s product (swot and product marketing theory)
    • Final Conclusion Music Social Network: a new and successful way of sharing and buying music online. Affirmation of this postulate through MMC study case. Follow the MMC example, which is growing fast (MMC Book). Virginie Berger also said in her professional blog (don’t believe the hype), that Facebook is counting more than 500 friends all around the world, and a movie is coming right now in theaters. Social Networks are the present and future internet economy, MMC is one of the first French Music Network promoting and buying music online. I strongly advice all my conclusion to this issue, and I am going to do everything to be hired inside their team after this oral presentation. MMC might accomplish my professional project in music industry.
    • Acknowledgment Goom Radio NYC My Major Company Town Square Productions Helena Bertin Virginie Berger Elizabeth Albrycht ISCOM SCHOOL