Mike Masnick: Trent Reznor Paving Way for Future’s Music Business
At this year’s Midem, Mike Masnick from Techdirt gave a presentation focussed on how Trent Reznor/NIN is doing music business. It is worthwhile watching the video. Masnick’s accompanying article can be found here. You will find additional comments there.
Unsurprisingly, there are some issues mentioned which might be familiar if you read my previous articles on here. Discussing the “Ralph Lauren Model” I pointed out how important the added value to a generic content is. Masnick again summarises the five most important facts:
- Motivate consumers by involving them.
- Add real value to generic content.
- Create hype to promote the product in the long run.
- Implement a pricing strategy that makes use of long tail strategy.
- Most importantly: There’s a wide variety of strategies to choose from. Be creative.
In case you are reading this within your email feed, the video might be missing. Do yourself a favour and visit my blog to watch it.