Dan Hodges Music Nashville
At a time when sales for a majority of artists are slender compared to years before the digital age, New and inventive marketing techniques need to be in place to recoup lost revenue and future recoupment in a down market. This is an example of one idea I feel could change the grim horizon for Major and Independent labels at a time when it has all turned to a “singles” market.
Here is my $1.29 worth, or should I say $1.59 in a nutshell.
As a teenager I remember walking in to a big box store and purchasing a “single” CD for $3 and it had the current single and 2 album cuts on it. Before that I remember purchasing a “Single” Cassette which was sold with the “A” side as the current single and an album track as the “B” side. Adapting these old habits and formulating them in to today’s market may bring a new horizon on the industry as whole including the consumer.
Consumers want more for their money and labels, distributors, publishers, and songwriters want more revenue for the services or products they produce. I feel adapting and packaging an A&B single to the digital download generation will produce more revenue and allow the consumer to get more bang for their buck.
The standard now is selling a digital single for $1.29, which is working well but there is still lost revenue off of the album cuts which most consumers won’t purchase due to CD sales become stagnant. What if we could change the way we market singles to an A&B side. If you packaged digital singles for $1.59 and included the single and one album track that the label knows won’t be singled at any point, it could generate money for that particular album track that never would have been purchased, and the best part is there would be little to no cost to the presenting label. I myself as a consumer would not have a problem buying the single for a higher price feeling that I am getting more for my money. The fans are also getting their hands on more tracks from that artist that wouldn’t normally purchase a complete record. This marketing would generate more income whether the label pushes 2 or 5 singles from any particular artist. But for those few artists that can push 5 singles off a record has now collectively sold more units as a whole.
I feel it could be a win-win for everyone. Most of all it could generate more revenue for those that are involved with producing and distributing records.