Music industry

Illegal Downloading

The music industry has change dramatically over time since technology has developed and the new generation accessing music differently. Artists and bands are now looking at different ways to make money, and this is due to the increase of illegal downloading through websites like Pirate Bay, Napster and Lime wire, which has become very popular amongst young people to illegally download. So, record companies now look at other ways to make money from their artists due to the radical dip in record, CD and MP3 download sale. Some record labels offer the 360 degree deal, this is when the take a certain percentage of the artist profits from their merchandise, tours, book releases and gigs.

 

Endorsement and Merchandise

What is really popular with artist now is making deal with retail companies such as Lana Del ray has released a new collection with H&M and other artist have done so in the past with Top Shop. Interestingly Katy Perry promoted her new perfume by spraying it on her new album Teenage Dream which smelt like candy floss. By doing this she promoted both of her products and because this was such a unique way of promoting, Katy Perry ensured that she maximised sales. Popular way artist make money is by releasing their perfumes and advert deals for cosmetic companies or designer companies.

 

 

Niche Audience

This is when a non-mainstream artist caters to a selected group of people. For instance, Amanda Palmer is an excellent example that conveys how they too can make a living if they approach making sales towards a certain group. She has a very close relationship with her fans so when she released a limited edition albums with various products she made a lot of money in just a few days.