Marketing in the Music Industry

• Since the 80's record companies have decreased rapidly and now are in crisis
• major companies have failed in both the transition from vinyl to CD and again from Cd to digital

The CD pricing mistake

• One mistake is that Cd's are too expensive due to being over priced
• Instead of setting the price at £10-15 if companies were to set them between £4-5 a lot more would be sold
• Another mistake is that companies push 12-15 songs on an album when in fact only around 3 are actually any good - instead they should have tried new formats 
• The income to the composer and performer compared to record company got a little amount of money from each Cd sold by the record company
• Companies taking the alternative route would ensure they would be rich and never in a crisis

Music Marketing and Apple Inc

• Today Itunes has sold over 25 billion songs
• Consumers can buy songs at 99p each or 3/4 songs for £3/£4 pounds
• Musicians are creative and can write/play a good song which are appealing to customers instead of a lot at a time
• On an album of 12-15 songs you can guarantee 9/12 won't be as good
• It also takes away the stress of weeks of recording and editing  

The big mistake of Record Companies

• A huge mistake from the 80's on-wards was that  compared to the 60's the companies stopped making music they were liking and which the public were liking 
• E.G. the Beatles were making their music and weren't following marketing directives or what the executive told them what the consumers would like
• In the 80's the marketing approach changed for the music companies - they sold music as a mass product
• surveys and market analysis was carried out which meant that executives were telling musicians what they could sell and what pleased consumers- this is what destroyed music and the companies along with it as each genre of music has a niche market

Let the Band Play

• Music is art
• The let the band play is a strategy for marketing which says one thing - all you need is passion and inspiration
• this should be what drives music - the love of making it and the love of listening to it

The Next Logical Step - iTunes

• For apple to develop iTunes to become a huge recording company and replace other companies 

credits: Vertygo Team

link: Marketing in the Music Industry - Analysis
- See more at: http://www.vertygoteam.com/music/music_marketing.php#sthash.Cu5iJjFq.dpuf