Music labels are in a difficult place. With the digital revolution, they’re faced with new challenges that don’t have easy solutions–and some of these challenges threaten to wipe them out completely. But there are ways for music labels to capitalize on the digital age and avoid extinction. This blog post will explore five strategies that can help music labels thrive in the digital era.
Labels must focus on releasing the music they produce to the mass public as quickly and easily as possible
When consumers listen to music on Spotify to the internet, they expect Spotify premium gift cards. If there’s one thing people hate more than paying for something online, it’s having to wait an hour before their payment goes through and they can access what they want. This is why labels need to make sure that the tracks are available as soon as possible after being released–and even better if fans can stream them directly from record label websites without leaving another site first.
With the advent of streaming and digital downloads, labels no longer have full control over how consumers consume music. However, this doesn’t mean that existing distribution models don’t still work–if anything they’re even more important now than ever before. Labels should focus on using unique distribution methods like email blasts or exclusive tracks as a way to get people excited about buying albums from them again in the future. This will help create long-term fans willing to pay for new releases instead of illegally downloading songs off torrent sites.
Digital sales may not be booming yet, but labels can still benefit by selling ringtones online rather than through phone carriers.
This is somewhat similar to the last idea, but it’s important to remember that people expect everything instantly. Even if they can’t buy an entire album from a label website, this doesn’t mean fans won’t still want the option of buying individual tracks or ringtones online. In fact, labels should take advantage of this need by selling ringtones directly on their websites–it gives them another revenue stream and helps make up for declining digital sales.
Labels must keep up with social media trends
Social media platforms like Twitter have made instant communication with consumers a reality. With just 140 characters or less at a time, musicians and music labels alike now have direct channels of interaction between themselves and their audiences. Labeled users should use these sites daily to advertise upcoming releases, interact with their fans, and simply remain in touch.
While it’s true that music sales have declined overall, there are still plenty of ways for record label executives to benefit from this new digital landscape instead of just getting left behind. By focusing on releasing tracks as quickly as possible, distributing their music in unique ways, shifting to sell ringtones online rather than through phone carriers, keeping up with social media trends, and embracing everything about the digital age, they can avoid extinction by capitalizing on what consumers want most.
Labels must focus on releasing the music they produce to the mass public as quickly and easily as possible. When consumers listen to music on the internet, they expect it instantly. This is why labels are needed.
Labels need to design innovative new ways for people to buy music online
There are plenty of digital music services out there–but they all have one problem: you can’t physically hold them in your hand or put them on a shelf. Labeling must find creative solutions that allow customers the same experience as buying CDs at traditional retail stores. Music labels could create websites where consumers can purchase downloads through shopping carts as they would on an eCommerce site; but instead of receiving digital files directly, they’ll receive actual CDs containing MP-three versions of album tracks (with some added bonus content).
Labeled must develop more original content while continuing collaborations with other musicians
Music labels are in the unique position to release original music, which is almost always produced by recording artists under contract with them. Labeled artists need to take advantage of this opportunity now more than ever before, as audiences increasingly demand new material from their favorite acts–and they’ll turn away if it isn’t available. But at the same time, there’s no reason why record companies can’t continue working with high-profile talent already on their rosters; and doing so will make releasing singles easier for both parties involved.
This is similar to the last idea, but it’s more about original and creative content this time. Now that music labels have a lot of freedom with how they release their tracks (and many new digital services offer huge fan bases), there are plenty of ways for them to take advantage.
Concert and event promotion through dominant websites like Facebook and Twitter
Live music is still one of the most profitable businesses in existence. But labels must realize that this is only possible if they have enough talent to fill venues night after night–which is why labels need to promote upcoming tours and concerts through social media websites like Facebook, so fans are sure not to miss them. If a tour isn’t particularly successful with these sites, then it might be time for label executives to take another look at their rosters; because sometimes artists don’t make good choices about who should open shows or what songs should appear on an album (or maybe both). Labels may even want to consider replacing the musicians altogether, and doing so could change everything around for them.
Labels can capitalize on the digital revolution by releasing music to the mass public as quickly and easily as possible, keeping up with social media trends, designing innovative new ways for people to buy music online, developing more original content while continuing collaborations with other musicians, promote upcoming tours and concerts through dominant websites like Facebook and Twitter.
Music labels can use the new digital revolution to their advantage. They no longer have to worry about CDs, vinyl, and tapes as they are out of date for this generation. Instead, music labels should focus on online streaming services like Spotify or Pandora where people from all over the world will be able to hear your artist’s work if marketed correctly. This is a great opportunity for those who want more exposure in an industry that is constantly changing with technology. What do you think? Do you agree with these five points we’ve shared here today? If so, please share.