{"id":1926,"date":"2014-07-07T16:12:56","date_gmt":"2014-07-07T23:12:56","guid":{"rendered":"http:\/\/vakseen.com\/site\/?p=1926"},"modified":"2014-07-07T16:12:56","modified_gmt":"2014-07-07T23:12:56","slug":"10-big-things-that-have-changed-about-the-music-industry-over-the-last-15-years","status":"publish","type":"post","link":"https:\/\/vakseen.com\/site\/10-big-things-that-have-changed-about-the-music-industry-over-the-last-15-years\/","title":{"rendered":"10 Big Things That Have Changed About the Music Industry Over the Last 15 Years"},"content":{"rendered":"

Here are ten big things that HAVE\u00a0changed about the music industry over the last fifteen years:<\/strong><\/h3>\n

1. Monetization is about experience, not sales<\/strong><\/h3>\n

A decade ago, monetizing music was still mostly about CD\u00a0sales and publishing royalties.<\/p>\n

<\/span>The formats have changed, of course, and we\u2019ve seen the dominant trend shift from CD sales to MP3 downloads to streaming (via services like YouTube and Spotify) \u2014 but the central point is this: monetizing music is no longer about convincing a fan to purchase something.<\/p>\n

For many people, ownership is old news. Today it\u2019s about the social aspect of music. Now you make money when you enable your fans to do something WITH\u00a0your music, such as:<\/p>\n

* sharing it with their friends on social media<\/p>\n

* adding it to a\u00a0Spotify playlist<\/a><\/p>\n

* creating\u00a0a video on YouTube that uses one of your songs<\/a><\/p>\n

* and more<\/p>\n

The lesson: Don\u2019t be stingy with your music. Let people have it, love it, share it, and use it.<\/em><\/strong><\/p>\n

2.\u00a0Media ain\u2019t monolithic<\/strong><\/h3>\n

Years ago, it really mattered if\u00a0your music got\u00a0written about\u00a0in\u00a0Rolling Stone, SPIN, The Source<\/em>, etc. Those outlets had a big impact on how\u00a0music listeners responded to\u00a0new artists and new releases. Nowadays, there are far more outlets (online and off), serving every niche and genre; so you have a greater chance of\u00a0getting press coverage<\/a>. That\u2019s the good news. The bad news is that reviews don\u2019t matter as much.<\/p>\n

Because there\u2019s a bazillion bands and a bazillion blogs willing to write about your music, any single review, interview, or story\u00a0won\u2019t reverberate through the music industry or\u00a0amongst a larger\u00a0community of listeners in the same way it might\u2019ve 15 years ago. Even big online review sites like\u00a0Pitchfork<\/em>\u00a0don\u2019t wield a magic wand; many bands they\u2019ve celebrated have had little success to show for it (in terms of sustainability), while many acts they\u2019ve skewered have done just fine.<\/p>\n

The lesson:\u00a0The music press is more diverse, and its power is more diluted.<\/em><\/strong><\/p>\n

3. \u201cRadio\u201d can mean\u00a0something else entirely<\/strong><\/h3>\n

Turn on your car radio and, yes, music still comes\u00a0out of the speakers. But corporate, terrestrial radio (over the airwaves) is no longer the only option for listeners\u00a0who want to discover new music programming. The most exciting and innovative music in almost every genre is being played elsewhere: satellite radio, online stations, customizable music services like\u00a0Pandora<\/a>, podcasts, and more.<\/p>\n

To get significant radio play on corporate radio as an independent artist, you\u2019d need a miracle, many tens of thousands of dollars, the right radio promoter, and another miracle. In contrast, not only is it possible\u00a0for you to get\u00a0your music onto community and college radio, as well as satellite and online radio,\u00a0it\u2019s fairly easy to do<\/a>! But just like my\u00a0point about media, radio play on any of those other outlets won\u2019t be nearly as powerful as a successful commercial radio campaign.<\/p>\n

The lesson:\u00a0You probably won\u2019t be the next Katy Perry without the help of a major label, but unlike 15 years ago, you CAN get meaningful plays and build a fanbase through NON-commercial radio.<\/em><\/strong><\/p>\n

4. Labels are a last resort<\/strong><\/h3>\n

15 years ago, almost every band that was serious about reaching a larger audience wanted \u2014 even needed (unless you\u2019re Fugazi) \u2014 a major label deal. Now most bands understand that you can actually do better\u00a0financially by staying independent, owning your master recordings, keeping your publishing, and determining the course of your own career.<\/p>\n

Savvy indie artists like Macklemore & Ryan Lewis were able to build professional teams around them for distribution, publicity, booking, and such \u2014 all without having to sign a traditional major label contract. Nowadays, the artist IS the label.<\/p>\n

The lesson:\u00a0Being your own label is hard work, but you reap all the rewards.<\/em><\/strong><\/p>\n

5. Email is more important than social media<\/strong><\/h3>\n

If you were making music 15 years ago, you may\u2019ve had some experience building a list of your fans\u2019 email addresses. But you\u2019ve missed (at least the on the music biz\u00a0side of things) the rise and fall of MySpace, as well as the surge and decline of interest in Facebook as a music marketing tool. Both these examples demonstrate that social media trends come and go, internet habits change, but email is forever. That\u2019s why\u00a0building your email list should be your #1 music marketing goal<\/a>. And one of the best places to begin building your email list is your own website, a place where\u00a0YOU control the user experience<\/a>.<\/p>\n

The lesson:\u00a0The relationship between you and your fans should be owned by\u2026 you and your fans \u2014 NOT somebody in Silicon Valley.<\/em><\/strong><\/p>\n

6. Your fans can help you fund your recordings, videos, and tours<\/strong><\/h3>\n

\u2026 and I don\u2019t mean by simply buying your products, concert tickets, etc.<\/p>\n

Platforms like Kickstarter, PledgeMusic, RocketHub, and IndieGoGo now enable\u00a0artists to more easily raise funds for their projects. Here\u2019s the concept: many fans make small donations that add up to a significant amount of money. Sound like a form of glorified begging? Think again.\u00a0Crowdfunding (particularly when it comes to funding recording projects) is basically a pre-order process where your fans, friends, and family have the opportunity to buy your music in advance. In addition, they get to demonstrate their support, feel a sense of satisfaction that they\u2019re helping you bring your music\u00a0to the world, AND receive cool things from you in return.<\/p>\n

The lesson:\u00a0You don\u2019t have to go into debt to a label (recouping your\u00a0advance, tour support, and recording budget) in order to get your music out there.\u00a0Now your fans can help you foot the bill\u00a0<\/a>\u2014 and you get to keep your copyright.<\/em><\/strong><\/p>\n

7. People are making albums on their computers that sound as good as studio albums from the 1960\u2032s<\/strong><\/h3>\n

Technology! You no longer need a big room, top-of-the-line outboard gear, and a $5000-mic in order to create magical recordings. Sure, nothing replaces the ears and experience of a great audio engineer, but now affordable digital tools are at your fingertips that can help YOU develop those engineering and production skills yourself. Sometimes all the\u00a0tools you need can even\u00a0fit into an iPad, so you don\u2019t need to pay rent on a huge studio space either.<\/p>\n

The lesson:\u00a0home-recording still requires great ears, but if you\u2019re willing to put the work in, you can make an album on your own that sounds just as good as anything else you\u2019d hear on the radio (except for maybe a few classic albums from the early 1970\u2032s which will never be surpassed in terms of sound quality by anyone, anywhere, ever ; ).<\/em><\/strong><\/p>\n

8. You can actually get your music used in\u00a0films, TV shows, commercials, and video games<\/strong><\/h3>\n

15 years ago, it was pretty much unheard of for big film, TV, and game producers to use independent music for their projects. Now it\u2019s the norm.\u00a0Sync licensing<\/a>\u00a0has become one of the best ways for an independent artists to make money, gain a following, and establish credibility. The downside to this, like all new opportunities, is that EVERYONE is trying to do it \u2014 so you\u2019ve got lots of competition. And when supply is high, the amount you get paid per placement is usually lower because there are a million other acts who\u2019d love to get the exposure. However, in the case of television, you stand to earn more money in the form of performance royalties every time a show that uses your music airs.<\/p>\n

Another consideration for sync licensing is that\u00a0how old your music is doesn\u2019t matter.<\/a>\u00a0Unlike radio where DJs usually favor new releases or proven songs from the past, music supervisors who choose songs for film and TV productions don\u2019t care about the age of the music (or if it was ever commercially released in the first place); all they care about is that the song is right for the scene.<\/p>\n

The lesson:\u00a0Your entire catalog of recorded songs can earn you sync fees, so\u00a0it\u2019s a good idea to get ALL of your music into a\u00a0sync licensing catalog<\/a>.<\/em><\/strong><\/p>\n

9. YouTube might be\u00a0more important than anything else<\/a>\u00a0in your music career<\/strong><\/h3>\n

\u2026 besides the music itself, of course.<\/p>\n

YouTube has become the #1 search engine for music. It\u2019s also the #1 preferred listening platform for younger music fans. Plus, YouTube videos are highly sharable via social media.\u00a0As someone who\u2019s been away for a while, you\u2019ll want to get all\u00a0your songs onto YouTube; otherwise you\u2019re missing out on another chance to make money from your music (in the form of\u00a0YouTube ad revenue<\/a>). You don\u2019t have to make a dozen fancy music videos, but you should think about at least uploading album-art videos for every song.<\/p>\n

10. For today\u2019s artists, many revenue streams form a river<\/strong><\/p>\n

As I said above, monetization, more and more, is about experience \u2014 and social music sites like Spotify and YouTube are making it easy for your fans to share your music. The more your music is shared, the more money you make.<\/p>\n

That being said, there are still billions of people on the planet who prefer to buy CDs, and many millions more that prefer vinyl (yes, vinyl \u2014\u00a0it\u2019s back<\/a>), so you obviously want to continue offering your music in physical formats \u2014 especially if you\u2019ve got any leftovers from your last pressing all those years ago. In addition to revenue from digital and physical music sales and streaming, you should be\u00a0collecting your global publishing royalties<\/a>\u00a0(includingmechanical royalties<\/a>), trying to find sync placements for your songs, touring, crowdfunding, and seeking out sponsorship\/endorsement opportunities with like-minded brands.<\/p>\n

The lesson:\u00a0To quote an investment cliche, \u201cdiversify!\u201d As an independent artist, you have MORE opportunities today than ever before to make money from your music. But there\u2019s no single path to success;\u00a0there\u2019s no single way to finance your career. You need to be taking advantage of every possible source of income. Altogether, it can add up to something big.\u00a0<\/em><\/strong><\/p>\n

\u2014-<\/p>\n

I\u2019m sure plenty of other things have changed too, but that\u2019s just a little crash-course to get you back into the music world sooner than later.<\/p>\n

\u201cI haven\u2019t put out an album in 15 years. What\u2019s changed?\u201d<\/h3>\n

If you\u2019re asking this question, let me say\u00a0congrats<\/em>\u00a0on getting back into the music world; welcome to a brand new game.\u00a0Limp Bizkit and Creed are no longer feuding (or making music). Will Smith has stopped rehashing 70\u2032s disco hits. And most kids these days think that \u201cEverlast\u201d is the name of a battery.<\/p>\n

On the bright side, a few\u00a0things will feel familiar. Eminem is on the radio. Evil corporations rule the large\u00a0live event and\u00a0ticketing infrastructures. Most music is made\u00a0using any combination of the same 12 notes.\u00a0And artists\u00a0still create music wanting people to hear it.<\/p>\n

Lastly, the size of that artist\u2019s\u00a0audience (as always) depends on some combination of talent, charisma, smarts, hard work, and luck. That part of the music biz should feel familiar too.<\/p>\n

But here are ten big things that HAVE\u00a0changed about the music industry over the last fifteen years:<\/strong><\/p>\n

1. Monetization is about experience, not sales<\/strong><\/h3>\n

A decade ago, monetizing music was still mostly about CD\u00a0sales and publishing royalties.<\/p>\n

<\/span>The formats have changed, of course, and we\u2019ve seen the dominant trend shift from CD sales to MP3 downloads to streaming (via services like YouTube and Spotify) \u2014 but the central point is this: monetizing music is no longer about convincing a fan to purchase something.<\/p>\n

For many people, ownership is old news. Today it\u2019s about the social aspect of music. Now you make money when you enable your fans to do something WITH\u00a0your music, such as:<\/p>\n

* sharing it with their friends on social media<\/p>\n

* adding it to a\u00a0Spotify playlist<\/a><\/p>\n

* creating\u00a0a video on YouTube that uses one of your songs<\/a><\/p>\n

* and more<\/p>\n

The lesson: Don\u2019t be stingy with your music. Let people have it, love it, share it, and use it.<\/em><\/strong><\/p>\n

2.\u00a0Media ain\u2019t monolithic<\/strong><\/h3>\n

Years ago, it really mattered if\u00a0your music got\u00a0written about\u00a0in\u00a0Rolling Stone, SPIN, The Source<\/em>, etc. Those outlets had a big impact on how\u00a0music listeners responded to\u00a0new artists and new releases. Nowadays, there are far more outlets (online and off), serving every niche and genre; so you have a greater chance of\u00a0getting press coverage<\/a>. That\u2019s the good news. The bad news is that reviews don\u2019t matter as much.<\/p>\n

Because there\u2019s a bazillion bands and a bazillion blogs willing to write about your music, any single review, interview, or story\u00a0won\u2019t reverberate through the music industry or\u00a0amongst a larger\u00a0community of listeners in the same way it might\u2019ve 15 years ago. Even big online review sites like\u00a0Pitchfork<\/em>\u00a0don\u2019t wield a magic wand; many bands they\u2019ve celebrated have had little success to show for it (in terms of sustainability), while many acts they\u2019ve skewered have done just fine.<\/p>\n

The lesson:\u00a0The music press is more diverse, and its power is more diluted.<\/em><\/strong><\/p>\n

3. \u201cRadio\u201d can mean\u00a0something else entirely<\/strong><\/h3>\n

Turn on your car radio and, yes, music still comes\u00a0out of the speakers. But corporate, terrestrial radio (over the airwaves) is no longer the only option for listeners\u00a0who want to discover new music programming. The most exciting and innovative music in almost every genre is being played elsewhere: satellite radio, online stations, customizable music services like\u00a0Pandora<\/a>, podcasts, and more.<\/p>\n

To get significant radio play on corporate radio as an independent artist, you\u2019d need a miracle, many tens of thousands of dollars, the right radio promoter, and another miracle. In contrast, not only is it possible\u00a0for you to get\u00a0your music onto community and college radio, as well as satellite and online radio,\u00a0it\u2019s fairly easy to do<\/a>! But just like my\u00a0point about media, radio play on any of those other outlets won\u2019t be nearly as powerful as a successful commercial radio campaign.<\/p>\n

The lesson:\u00a0You probably won\u2019t be the next Katy Perry without the help of a major label, but unlike 15 years ago, you CAN get meaningful plays and build a fanbase through NON-commercial radio.<\/em><\/strong><\/p>\n

4. Labels are a last resort<\/strong><\/h3>\n

15 years ago, almost every band that was serious about reaching a larger audience wanted \u2014 even needed (unless you\u2019re Fugazi) \u2014 a major label deal. Now most bands understand that you can actually do better\u00a0financially by staying independent, owning your master recordings, keeping your publishing, and determining the course of your own career.<\/p>\n

Savvy indie artists like Macklemore & Ryan Lewis were able to build professional teams around them for distribution, publicity, booking, and such \u2014 all without having to sign a traditional major label contract. Nowadays, the artist IS the label.<\/p>\n

The lesson:\u00a0Being your own label is hard work, but you reap all the rewards.<\/em><\/strong><\/p>\n

5. Email is more important than social media<\/strong><\/h3>\n

If you were making music 15 years ago, you may\u2019ve had some experience building a list of your fans\u2019 email addresses. But you\u2019ve missed (at least the on the music biz\u00a0side of things) the rise and fall of MySpace, as well as the surge and decline of interest in Facebook as a music marketing tool. Both these examples demonstrate that social media trends come and go, internet habits change, but email is forever. That\u2019s why\u00a0building your email list should be your #1 music marketing goal<\/a>. And one of the best places to begin building your email list is your own website, a place where\u00a0YOU control the user experience<\/a>.<\/p>\n

The lesson:\u00a0The relationship between you and your fans should be owned by\u2026 you and your fans \u2014 NOT somebody in Silicon Valley.<\/em><\/strong><\/p>\n

6. Your fans can help you fund your recordings, videos, and tours<\/strong><\/h3>\n

\u2026 and I don\u2019t mean by simply buying your products, concert tickets, etc.<\/p>\n

Platforms like Kickstarter, PledgeMusic, RocketHub, and IndieGoGo now enable\u00a0artists to more easily raise funds for their projects. Here\u2019s the concept: many fans make small donations that add up to a significant amount of money. Sound like a form of glorified begging? Think again.\u00a0Crowdfunding (particularly when it comes to funding recording projects) is basically a pre-order process where your fans, friends, and family have the opportunity to buy your music in advance. In addition, they get to demonstrate their support, feel a sense of satisfaction that they\u2019re helping you bring your music\u00a0to the world, AND receive cool things from you in return.<\/p>\n

The lesson:\u00a0You don\u2019t have to go into debt to a label (recouping your\u00a0advance, tour support, and recording budget) in order to get your music out there.\u00a0Now your fans can help you foot the bill\u00a0<\/a>\u2014 and you get to keep your copyright.<\/em><\/strong><\/p>\n

7. People are making albums on their computers that sound as good as studio albums from the 1960\u2032s<\/strong><\/h3>\n

Technology! You no longer need a big room, top-of-the-line outboard gear, and a $5000-mic in order to create magical recordings. Sure, nothing replaces the ears and experience of a great audio engineer, but now affordable digital tools are at your fingertips that can help YOU develop those engineering and production skills yourself. Sometimes all the\u00a0tools you need can even\u00a0fit into an iPad, so you don\u2019t need to pay rent on a huge studio space either.<\/p>\n

The lesson:\u00a0home-recording still requires great ears, but if you\u2019re willing to put the work in, you can make an album on your own that sounds just as good as anything else you\u2019d hear on the radio (except for maybe a few classic albums from the early 1970\u2032s which will never be surpassed in terms of sound quality by anyone, anywhere, ever ; ).<\/em><\/strong><\/p>\n

8. You can actually get your music used in\u00a0films, TV shows, commercials, and video games<\/strong><\/h3>\n

15 years ago, it was pretty much unheard of for big film, TV, and game producers to use independent music for their projects. Now it\u2019s the norm.\u00a0Sync licensing<\/a>\u00a0has become one of the best ways for an independent artists to make money, gain a following, and establish credibility. The downside to this, like all new opportunities, is that EVERYONE is trying to do it \u2014 so you\u2019ve got lots of competition. And when supply is high, the amount you get paid per placement is usually lower because there are a million other acts who\u2019d love to get the exposure. However, in the case of television, you stand to earn more money in the form of performance royalties every time a show that uses your music airs.<\/p>\n

Another consideration for sync licensing is that\u00a0how old your music is doesn\u2019t matter.<\/a>\u00a0Unlike radio where DJs usually favor new releases or proven songs from the past, music supervisors who choose songs for film and TV productions don\u2019t care about the age of the music (or if it was ever commercially released in the first place); all they care about is that the song is right for the scene.<\/p>\n

The lesson:\u00a0Your entire catalog of recorded songs can earn you sync fees, so\u00a0it\u2019s a good idea to get ALL of your music into a\u00a0sync licensing catalog<\/a>.<\/em><\/strong><\/p>\n

9. YouTube might be\u00a0more important than anything else<\/a>\u00a0in your music career<\/strong><\/h3>\n

\u2026 besides the music itself, of course.<\/p>\n

YouTube has become the #1 search engine for music. It\u2019s also the #1 preferred listening platform for younger music fans. Plus, YouTube videos are highly sharable via social media.\u00a0As someone who\u2019s been away for a while, you\u2019ll want to get all\u00a0your songs onto YouTube; otherwise you\u2019re missing out on another chance to make money from your music (in the form of\u00a0YouTube ad revenue<\/a>). You don\u2019t have to make a dozen fancy music videos, but you should think about at least uploading album-art videos for every song.<\/p>\n

10. For today\u2019s artists, many revenue streams form a river<\/strong><\/p>\n

As I said above, monetization, more and more, is about experience \u2014 and social music sites like Spotify and YouTube are making it easy for your fans to share your music. The more your music is shared, the more money you make.<\/p>\n

That being said, there are still billions of people on the planet who prefer to buy CDs, and many millions more that prefer vinyl (yes, vinyl \u2014\u00a0it\u2019s back<\/a>), so you obviously want to continue offering your music in physical formats \u2014 especially if you\u2019ve got any leftovers from your last pressing all those years ago. In addition to revenue from digital and physical music sales and streaming, you should be\u00a0collecting your global publishing royalties<\/a>\u00a0(includingmechanical royalties<\/a>), trying to find sync placements for your songs, touring, crowdfunding, and seeking out sponsorship\/endorsement opportunities with like-minded brands.<\/p>\n

The lesson:\u00a0To quote an investment cliche, \u201cdiversify!\u201d As an independent artist, you have MORE opportunities today than ever before to make money from your music. But there\u2019s no single path to success;\u00a0there\u2019s no single way to finance your career. You need to be taking advantage of every possible source of income. Altogether, it can add up to something big.\u00a0<\/em><\/strong><\/p>\n

I\u2019m sure plenty of other things have changed too, but that\u2019s just a little crash-course to get you back into the music world sooner than later.<\/p>\n

Via CD Baby<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Here are ten big things that HAVE\u00a0changed about the music industry over the last fifteen years: 1. Monetization is about experience, not sales A decade ago, monetizing music was still mostly about CD\u00a0sales and publishing royalties. The formats have changed, of course, and we\u2019ve seen the dominant trend shift from CD sales to MP3 downloads to streaming (via services like YouTube and Spotify) \u2014 but the central point is this: […]<\/p>\n","protected":false},"author":2,"featured_media":1927,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[6],"tags":[14],"class_list":["post-1926","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry-tips","tag-music-business"],"_links":{"self":[{"href":"https:\/\/vakseen.com\/site\/wp-json\/wp\/v2\/posts\/1926","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vakseen.com\/site\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vakseen.com\/site\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vakseen.com\/site\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/vakseen.com\/site\/wp-json\/wp\/v2\/comments?post=1926"}],"version-history":[{"count":1,"href":"https:\/\/vakseen.com\/site\/wp-json\/wp\/v2\/posts\/1926\/revisions"}],"predecessor-version":[{"id":1928,"href":"https:\/\/vakseen.com\/site\/wp-json\/wp\/v2\/posts\/1926\/revisions\/1928"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vakseen.com\/site\/wp-json\/wp\/v2\/media\/1927"}],"wp:attachment":[{"href":"https:\/\/vakseen.com\/site\/wp-json\/wp\/v2\/media?parent=1926"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vakseen.com\/site\/wp-json\/wp\/v2\/categories?post=1926"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vakseen.com\/site\/wp-json\/wp\/v2\/tags?post=1926"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}