October 16, 2007
Rock Stars Learn About Branding
Check out an article on the Portfolio.com about the incredible changes in the recording industry that have made international news since major acts like Radiohead and Madonna have dropped their labels altogether to give in completely to the advent of downloadable music.
The artists are getting away from the old music industry model by letting their fans listen to the music for free.
Radiohead, Prince and Madonna have all figured out that letting fans have the product for free will bring them to the concerts, where the real money is made. It will also drive up their brand name recognition and sales that are covered by licensing deals. In addition, Radiohead will be selling fans music directly through their website for the amount fans willing to pay, which they seem to honor.
Common Sense Dancing compares big name artists to the Major League Baseball. Yes, we can all watch baseball for free on TV, but it also helps the baseball industry. The MLB exposure fills the stadiums and sold merchandise supports our favorite teams. And how many major brand names, from cars to beer, depend on the sports industry to survive?
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