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Welcome to the Music Industry

Welcome to the Music Industry. How to thrive & survive as a public relations practitioner. The Digital Age. At the beginning of the digital revolution it was common to ay that digital was killing music. Now, it could be said that digital is saving music . – Edgar Berger.

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Welcome to the Music Industry

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  1. Welcome to the Music Industry How to thrive & survive as a public relations practitioner

  2. The Digital Age At the beginning of the digital revolution it was common to ay that digital was killing music. Now, it could be said that digital is saving music. – Edgar Berger

  3. Nielsen Soundscan 2011 • Overall: +3% • Digital album: +19% • Digital tracks: +8.5% • Digital album sales accounted for 31% of all album purchases 2012 • Overall: -1.8% • Digital album: +14% • Digital tracks: +5% • Digital album sales accounted for 37% of all album purchases • More albums sold in digital music stores than any other strata • Global revenues: +0.3%

  4. Nielsen Soundscan

  5. Piracy & Licensing • 1 in 5 American Internet users downloaded music through a P2P service in 2005 • 1 in 10 American Internet users downloaded music through a P2P service in 2012 • 40% of people decreased P2P use because of streaming services • 95% of music downloaded online is illegal • Pirates purchase about 30% more music In the race to adopt new technologies, the music industry historically has finished just ahead of the Amish. – Stan Cornyn

  6. Online Stores – The End of An Era Single downloads  streaming

  7. Festival Fashionista More than in the past, I’ve noticed high-end designers are looking to the streets and music festivals to find elements to include in their lines. –Tana Ward

  8. Listen Up Tape. 8tracks. Spotify. Sirius. Last.fm. Piki.Rdio. Rhapsody. Napster. MOG. CD. Vinyl. MySpace Music. Satellite. Streaming.Radio. Pandora. Analog. Ex.fm. Songza. Grooveshark.

  9. Streaming Services • Currently about 20 million paying subscribers to music streaming services worldwide • Average American spends $17/year on music  $17/month • Profitability • Royalty rates

  10. Streaming Services Artists didn’t make big money from CDs when they were introduced, either. They were a specialty thing, and had a lower royalty rate. Then, as it became mainstream, the royalties went up. And that’s what will happen here. – Donald Passman

  11. Words from the Wise There has been a lot of money lost in artist investment…in the future I see ourselves as advertising agencies. The industry won’t look the same as it used to (nor should it), and it won’t be structured in the same manner, but the industry is retooling in a way that bodes well for music (if not for the salaries of music industry executives).

  12. Words from the Wise Right now, we’re just in a little chaos. Things are resettling and re-shifting and people are trying stuff, people are getting laid off. Fewer records are being sold every day. The people left in the business are, I think , the best, the people who were there because they cared and have new ideas.Everyone else is gone. – Ben Folds Musicians do need labels…You may not call it a label, but whatever your team is, who’s going to do marketing, who’s going to do billing, who’d going to monetize the assets and the brand? – Tom Silverman

  13. Strive to Thrive DO… • Know the industry moves fast • Manage expectations • Be honest • Remember it’s a game of “musical chairs” • Have a “side hustle” • Pump the breaks • “Work” the company • Remember that it’s a business of who you know • Network with caution • Look for opportunities for growth • Understand business as a whole • Learn niche publications

  14. Strive to Thrive DON’T… • Get too comfortable • Pigeon hole yourself • Hype a project • Count on one form or revenue or marketing driver • Rush to claim an idea • Be afraid to voice your opinions • Get involved with artist’s personal affairs • Forget lower personnel • Start pop and then try to go back to other worlds

  15. PR is Here to Stay • “Artist-independent” world • Publicity and public relations functions more necessary than previously • Cost-benefit • Hired internally by company

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