TGE 2014: Bands offering fans 'value added services’ need to be wary of undervaluing their music, a panel on the first day of The Great Escape has warned.
Chris Carey, music industry economist and Fred Bolza from Sony Music UK made the comments during the Digital Music Trends panel session on the first day of the Great Escape conference in Brighton.
Chris said: ‘I heard at a recent music conference that bands shouldn’t sell recorded music anymore. They should sell t-shirts and gig tickets instead. A much larger proportion of music fans go to see gigs and buy t-shirts than buy records.
‘However, at this point if you’re going to sell recorded music for nothing in order to sell other stuff around it, then you’re giving away a giant chunk of consumers who will take an interest. I love music and own no t-shirts by bands.’
Fred, vice-president of Marketing Services at Sony Music UK, said that one of the key issues surrounding recorded music is the continued use of the word ‘product’.
‘Product is important but to think about our core revenue stream as a product trivialises what we’re trying to do. Giving away music to sell the t-shirt comes from such fragmented rights. It comes from everyone wanting to maximise their piece of the pie to make more money rather than generating a bigger pie.’
He continued: ‘Ultimately, art and commerce have always existed uncomfortably next to each other ... Be an awesome band, make awesome things that people give a shit about and you’ll probably be okay.’
The pair both agreed that when using value added services as part of a direct to fan marketing campaign, bands and record labels need to ensure they are engaging with a variety of fans - from the ‘super fans’ to the more casual listener.
Andrea Leonelli was chair of the panel - he hosts the Digital Music Trends podcast with a panel discussing recent digital music developments and convention topics. Visit the website here.
Chris Carey, music industry economist and Fred Bolza from Sony Music UK made the comments during the Digital Music Trends panel session on the first day of the Great Escape conference in Brighton.
Chris said: ‘I heard at a recent music conference that bands shouldn’t sell recorded music anymore. They should sell t-shirts and gig tickets instead. A much larger proportion of music fans go to see gigs and buy t-shirts than buy records.
‘However, at this point if you’re going to sell recorded music for nothing in order to sell other stuff around it, then you’re giving away a giant chunk of consumers who will take an interest. I love music and own no t-shirts by bands.’
Fred, vice-president of Marketing Services at Sony Music UK, said that one of the key issues surrounding recorded music is the continued use of the word ‘product’.
‘Product is important but to think about our core revenue stream as a product trivialises what we’re trying to do. Giving away music to sell the t-shirt comes from such fragmented rights. It comes from everyone wanting to maximise their piece of the pie to make more money rather than generating a bigger pie.’
He continued: ‘Ultimately, art and commerce have always existed uncomfortably next to each other ... Be an awesome band, make awesome things that people give a shit about and you’ll probably be okay.’
The pair both agreed that when using value added services as part of a direct to fan marketing campaign, bands and record labels need to ensure they are engaging with a variety of fans - from the ‘super fans’ to the more casual listener.
Andrea Leonelli was chair of the panel - he hosts the Digital Music Trends podcast with a panel discussing recent digital music developments and convention topics. Visit the website here.
