Earn more from your physical release
Blog by Music Business School under Creative & Branding, Music Training & Careers, Selling & Distributing Your Music
We consistently hear that the future is digital when it comes to selling and listening to music. Does that mean that it’s time to stop producing and selling physical product when it comes to releasing your music? This week Steve Melhuish from the Music Business School looks into this topic; one that is much discussed among students at the school whether they are preparing to launch their own label, run a management company or indeed enter any other part of the music business.
One of the great things about leading the Managing a Music Business Enterprise (MMBE) course at the Music Business School is hearing each week from the range of guest speakers we welcome into each session. These guest speakers, all of whom are at the top of the UK music business give us some great insights. One thing that comes up in discussion regularly is how important physical product is in this age of digital music.
Physical represents just under 49% of record label revenues in the UK according to British Recorded Music Industry trade body the BPI. However, anecdotally at the School we hear about small labels and new artists that have much higher physical sales than these industry wide trends. Why is this? From the exchange between our guest speakers and the students it’s clear that fans buying CD’s and Vinyl at shows and via independent traders drives this figure.
So how can you harness the enthusiasm of those early adopter music fans that seek out new artists and earn more from your physical release? Here are 2 ideas that if you take the time to put them in place should reward you with a higher financial return on your music.
Idea One: Produce Premium Product
Fans who are early on the scene in discovering a new artist or label are often keen to support your efforts in a tangible way. The huge growth in direct to fan funding platforms like Pledge Music are proof of this. Fans will purchase a product that is cheaply packaged but like any of us, they really value product that the artist or label has taken time and effort to produce. Limited edition runs and premium packaging are seen as collectable items and often fans who are travelling the journey with you from unsigned to buzz band and finally breakthough artist, genuinely want you to offer quality items for them to collect.
Also, if you are going to produce vinyl then make sure you get to know the management and staff of any independent record stores in your area. Indie retailers account for over 33% of vinyl sales in the UK according to the Entertainment Retailers Association and overall in 2013 they have seen a rise of 44% in sales of albums.
Also, if you are going to produce vinyl then make sure you get to know the management and staff of any independent record stores in your area. Indie retailers account for over 33% of vinyl sales in the UK according to the Entertainment Retailers Association and overall in 2013 they have seen a rise of 44% in sales of albums.
Idea Two: Make Your Merch Display Look Brilliant
If you’re going to produce premium packaged music then then make sure you do a brilliant job of displaying the merch at the venue. It’s easy to jump online and pick up CD display stands and even a half-mannequin to stick a t-shirt on. Invest a day with bandmates or sacrifice a rehearsal session to sort out how the display is going to get put together at the venue. Get a nice cloth to cover that dilapidated table at the venue and perhaps a length of rope light to draw attention to it. If your display is top notch your sales will be too.
Make sure the merch table is attended, especially at the end of the gig, and get someone from the band down to the merch table as soon as reasonable after the show to sign product and pose for pics with the fans. I know that I’ve suggested premium merch in the section above but you can make the merch table a hot spot by also having a few little giveaway items. Badges are a hot property at present and fans like to wear them as a badge of honour.
Make sure the merch table is attended, especially at the end of the gig, and get someone from the band down to the merch table as soon as reasonable after the show to sign product and pose for pics with the fans. I know that I’ve suggested premium merch in the section above but you can make the merch table a hot spot by also having a few little giveaway items. Badges are a hot property at present and fans like to wear them as a badge of honour.
Attending the Music Business School in London can arm you with a strong understanding of how all the sections of the UK music business fit into your plans for your music career. Our next course starts on September 4th. Enquire now about an interview to see if a short course of study is right for you.
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music business school, music industry training, music business, music qualification, steve mulheish, music courses, band merchandise, music merch, physical music sales, cd sales, vinyl sales
