The New Music Business Model- Stjames

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The New Music Business Model- Stjames

  1. 1. Michael St. James New Music Business Model
  2. 2. 1 WHAT YOU NEED TO KNOW WHAT YOU NEED TO DO HOW YOU SHOULD DO IT Q&A DISCUSSION Three Big Chunks 2 3 4
  3. 3. <ul><li>All Music in this decade must: </li></ul><ul><li>Make the Listener experience an emotion </li></ul><ul><li>Fit into a Part of Someone’s Life </li></ul><ul><li>Be Authentic </li></ul><ul><li>Be Accessible for Sale </li></ul><ul><li>Be Produced and Mastered Professionally </li></ul><ul><li>Be Immediate and Plentiful </li></ul><ul><li>Be on YouTube for Free Streaming </li></ul><ul><li>Be Id Tagged </li></ul><ul><li>Be Available in Instrumental Form and Vox only </li></ul>Music Is Important! This model is dependent on Music- we need great music
  4. 4. 78% 90% Watched online Music Video Downloaded a digital song from iTunes Chose a YouTube link over MP3 There is a Trend here <ul><li>Lessons </li></ul><ul><li>You Must have Video </li></ul><ul><li>You Must be on iTunes </li></ul><ul><li>You Must be on YouTube </li></ul>What You Need to Know Sources: MIDEM/Nielsen: Global consumers Jan 2011 for previous month Trendpoint: US Consumers, Music Supervisors dgroup- Performer Mag. Songs w/Video licensed at $10k+ 57% 50%
  5. 5. Big Label Stats CD Sales Plummeting! Digital is not making up for it! Piracy is rampant! The peak of albums released was in 2009 - 106,000. In 2010- only 75,000 releases about same as 2006 Number of albums selling more than 10,000- 1,219 And none of these numbers include or matter to you.
  6. 6. Estimated Combined New Album Releases: CD Baby, Oasis, Discmakers, Aggregates The Other Half Example artist driving growth 2010 2009 2008 2007 Extreme Growth in Independent releases Estimate by Troy van Veen Pres. CdBaby 1 2 3 4 175,000 est 125,000 90,000 NA
  7. 7. The New Face of Music?
  8. 8. Ronald Jenkees Independent Artist Independent Record Company Sold 10’s of Thousands of CDs Independently No Major Label made a Dime Worked with Papa Roach Total Views on YouTube: 50 mil + Soundcloud: 1 track in 4 mos. 67,000 Countless Music Licenses.
  9. 9. The New Experience of Music? <ul><li>More People have </li></ul><ul><li>Heard this one song </li></ul><ul><li>and </li></ul><ul><li>b) Seen him play Live … </li></ul><ul><li>than </li></ul><ul><li>Everyone’s music in this room combined... </li></ul><ul><li>ever. </li></ul><ul><li>So Far…. </li></ul><ul><li>5.5 million hits and counting. </li></ul>
  10. 10. Why are We Haters? Independent Artist Independent Record Company Songwriter/Producer like most Solo No Major Label made a Dime Laugh but she’s been Covered, licensed, played on Network and more. Glee Top 5 iTunes ASCAP Royalty 1Mil hits = $25 YouTube Ad Partner, 1 Mil hits = $2500 ($350,000 roughly) Sales? iTunes 100k+ est. double that ($100-$200k) + Ringtones $100k Covers: Glee “Friday” is #5
  11. 11. <ul><li>If you have ever written a song, you are a Music Publisher. If you have ever paid to record one, you are a Record label. </li></ul><ul><li>Want a Record or Publishing deal? Congrats, you got one. You’re just doing it wrong. </li></ul><ul><li>You must set up an LLC with the state to act as your licensing rights holder. A Federal Tax ID will allow you to get paid from other businesses and do transactional deals. </li></ul><ul><li>You must have this in order to have a true Publishing company to collect on Royalties and negotiate copyright transfer. </li></ul>Congratulations On Your 360 Deal
  12. 12. Create a Split Sheet- detailing Writers/Publishers, and dates Create a Lyric/Chord Sheet file Register it with your PRO /Copyright <ul><li>You Must Also Learn these: </li></ul><ul><li>SoundExchange </li></ul><ul><li>BDSonline.com </li></ul><ul><li>Gracenote: Lyrics </li></ul><ul><li>Rovi: data </li></ul>What You Must Do… Every Time You Write A Song Song Security Demo a rough of it by any means
  13. 13. Create a Split Sheet detailing Writers and Producers, any samples used and musicians signing off on recording-non writer interest Make a .Wav file from Master, MP3 320k and Full Metadata contact info in Comments <ul><li>You Must Also Learn these: </li></ul><ul><li>ISRC Codes: check CDBaby </li></ul><ul><li>Send to BDSonline.com </li></ul><ul><li>iTunes dist. Reverbnation or TuneCore </li></ul><ul><li>YouTube Channel </li></ul>What You Must Do… Every Time You Record Song Longevity Flexibility Agree on price for delivered mix mastered + Instrumental mix, Vox only, and your DAW Archive Session Files- BEFORE you record Create personal Video (s) of the upcoming song(s) and post it immediately. Then post all songs for stream on YouTube Channel-even with the cover
  14. 14. Re-Format your music from disc to Wav to MP3 320k v1 and v2 in your iTunes Tonight Upload every song you have to YouTube Tomorrow Gather Split sheets, make songfiles This Week Setup your Stores and sites Create an LLC for Publishing and Recording payments This Month 1 2 3 4 Current Finished Songs Prepare for Your Next Songs Write More Songs! What You Need To Do… Now 5 This Year Gather all songs and do a compilation copyright for 1 price
  15. 15. <ul><li>Bandcamp : Sell your music here </li></ul><ul><li>Reverbnation : Streams and Live integration </li></ul><ul><li>YouTube : Sell yourself here, personally and musically </li></ul><ul><li>Twitter: Just be involved and funny, Big Payoffs. Decision makers interact immediately here. </li></ul><ul><li>Facebook: Future is uncertain on Band pages, but events, messages and general friendship all are worth the risk. </li></ul>The Best Things Are Free 5 sites you must be on:
  16. 16. Lead with your best 2-3 Singles 1 2 3 4 A cover or Public domain song even it is just video 2- 3 Singles Record an X-Mas or holiday Track before September 2-3 Singles 2-3 Singles A cover or Public domain song even it is just video <ul><li>You will end up with: </li></ul><ul><li>8-12 singles if you must print an album </li></ul><ul><li>2 Covers and a Holiday song </li></ul><ul><li>8-12 Alt/acoustic tracks </li></ul><ul><li>Instrumentals and a cappellas for remixes </li></ul><ul><li>Remember: Each Run </li></ul><ul><li>Every 2-3 months </li></ul><ul><li>2 Finished Singles </li></ul><ul><li>2 Alt. or Acoustic versions </li></ul><ul><li>2 Instrumental Bed Tracks </li></ul><ul><li>2 a capella tracks </li></ul><ul><li>A Video Opportunity </li></ul><ul><li>Live show change </li></ul>The Core Model
  17. 17. Video the Process Get a Video Director Use Stock Footage Do a photo album Video Shoot Your own. Shoot Live Shows. Use Free: animoto, Xtranorml Treatment Video Stream rehearsals-Livestream Interview members Go do pranks as a band Show us your bus Show Gear, Backstage Encourage Fans to shoot and share Let People in. Shoot the Band Updates Fan Song Ideas Vote on Covers What studio you’re going to Songwriting Process Get on the webcam pimp songs and process. Create a connection
  18. 18. <ul><li>A note on Producers and recording at home or at a studio </li></ul><ul><li>Building the Independent Ecosystem: Producers, Mixers, Session Players, Artists, Mastering, Studios </li></ul><ul><li>Why the old record player down there? Quality, authenticity and musical experience. </li></ul><ul><li>Video. People buy from people they fell they know. Let your fans know you or who you want them to know. </li></ul>How You Should Do It
  19. 19. <ul><li>More Quality Music, More Frequently: </li></ul><ul><li>Focus on your best songs. Work at your craft. </li></ul><ul><li>If you release 2 great songs, it is impressive and will get industry and fan attention for the next release in a few months. If you release 2 promising songs, same thing. One bad album- I won’t check in for years. </li></ul><ul><li>Learn how to be a recording artist by small steps, build relationships with producers. 10,000 hours </li></ul><ul><li>Focused rehearsals and direction for a band- Momentum. </li></ul><ul><li>A “CD” release party every 2-3 months and new music for your core fans </li></ul><ul><li>Less Risk --- Higher Reward </li></ul>The Key To This Model
  20. 20. Digital Twin Single Alt or Acoustic 1 Alt or Acoustic 2 Main Song 2 Treatment Video Sell as package Bandcamp for $10 Main Song 1
  21. 21. <ul><li>2-3 songs every 2 months with Producer, studio, mastering= $2000 </li></ul><ul><li>An average band of 4 needs to make $250 (1 gig) per week or each member </li></ul><ul><li>contributes $60 a week. Or borrow it, but 2k is much easier to get than 10k </li></ul><ul><li>You can get a video shot for under $500 as well or DIY. Many great HD cameras are </li></ul><ul><li>under $200 and your band should have a video camera before monitors. </li></ul><ul><li>Use Crowdfunding as a source for promotion money or touring costs. </li></ul><ul><li>Kickstarter, Pledge Music. </li></ul><ul><li>Release Digitally- No Cost </li></ul><ul><li>Promotional Video on YouTube- No Cost </li></ul><ul><li>Sell a signed, limited edition Jacket CD or slimline homemade printed CD at </li></ul><ul><li>your gigs in conjunction with another item: Hat, T-shirt, Burrito, Beer </li></ul><ul><li>anything. $20 -> Creative, homemade, personal ->outsells all else at this level. </li></ul><ul><li>See if the Bar will allow a CD on fan’s tab, look into a Square card reader. The </li></ul><ul><li>majority of your sales will come from Credit Cards if you offer it. </li></ul><ul><li>Use all monies from Digital sales to fund the next project, but do not stop </li></ul><ul><li>gigging or saving. </li></ul>No Debt/Don’t Wait
  22. 22. <ul><li>Why do I say this? </li></ul><ul><li>You are most likely not good enough to do a full album. </li></ul><ul><li>The data shows it will most likely be your last. 3 in 10 </li></ul><ul><li>We must turn Fans around to value and not expect them to buy what they do not want. It’s all of our fault. </li></ul><ul><li>*Until you can sell 10,000 singles, (1000 fans buying 10 singles or combo) you don’t have a large enough fanbase to sell albums. </li></ul><ul><li>Too expensive to market, reproduce and not enough reward. It is a singles world, sorry. </li></ul><ul><li>The rule is: spend the same amount on promotion as you did on recording- you cannot afford that. </li></ul>Never Record An Album Again!*
  23. 23. CD in Jacket Accept Credit Cards Should You Ever Print CDs? Couple with Merch Price at $20 With Hat, Tshirt, DVD, Panties,etc . Square, Phone reader 5 Song EP + video $1) <ul><li>Yes, but NEVER sell them alone </li></ul><ul><li>Use for booking or contact as a business card </li></ul><ul><li>Sell with something a Fan cannot make </li></ul><ul><li>If you sign it they will buy it </li></ul><ul><li>Part of Ticket Price </li></ul><ul><li>Enlist Bartender/Waitress to deliver it. </li></ul>
  24. 24. <ul><li>Cloud Music </li></ul><ul><li>Subscription </li></ul><ul><li>MySpace Demise </li></ul><ul><li>Licensing Tips and Tricks. </li></ul>Q&A- Discussions
  25. 25. Michael St. James Thank you! New Music Business Model

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