Business of Music
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When it was first unveiled , Apple’s new iTunes LP format -– codenamed “Cocktail” and introduced at a “rock and roll event” in San Francisco -– promised to give consumers a new reason to buy albums instead of individual songs. Offering expanded cover art, lyrics, videos, animation and other digital goodies, iTunes LP was intended to evoke the feeling of spinning an LP record and holding the jacket in your hands. Especially when paired with a tablet computer (then rumored, now real ) that would provide a new way to view large-format art, consumers were promised a digital experience that mimicked a physical one. Six months later, however, iTunes LP doesn’t prompt much consumer recognition, and none of the industry sources with whom I spoke said they viewed it as being anywhere close to game-changing from a format perspective. Rather, it’s considered more of a curiosity.
Yet another great blog post by Ariel Hyatt, exploring how musicians are embracing the concept of focusing on the true fans to build a modern business model -- this time looking at how musician Ellis Paul was able to raise $100,000 from just 300 fans . The actual concept appears quite similar to what we've seen elsewhere before, in that he put together a set of "tiers" for support . The Ellis Paul story actually sounds quite similar to the Jill Sobule story -- both musicians who have been around for many years, bouncing around in the old system before realizing that a big label doesn't make much sense, when you have a strong fan base and really aren't selling the amount of albums the big record label really needs to consider you a success. Like Sobule, Paul has focused on really building up a loyal audience, and figuring out ways to communicate with them. What's interesting here, is that it took just 300 fans buying into tiers to get Paul to that $100,000 mark. Not bad.