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MusicBiz MBA – Determining The Most Profitable Place to Sell Music Online
Artists have countless options for selling their music and merchandise online these days. Shouldn’t you be directing your fans who want to buy your music or merch to the place where you make the most money on a per sale basis? A quick “contribution margin” analysis can help you identify your most profitable sales channels. Once you’ve identified your most profitable sales channel always be sure to direct your fans to that most profitable channel … Read entire article »
Filed under: Biz Blog, Featured, MusicBiz MBA
What Would John Doe Do? – Should I Keep My Manager?
Editor’s Note: John Doe’s new album KEEPER is now available. Click here to check it out. A Question about Management Hi John, I have a question about whether I’m better off having a manager or not early in my music career. I have a manager now and my friends tell me I’m lucky to have one since I’m not really making much money at this stage. He is a fan of my music and volunteered to be my manager. The … Read entire article »
Filed under: Artist View, Featured, WWJDD?
The Best of 2011
Below are the most read posts on KnowTheMusicBiz.cm during 2011: An Argument Against Fan Funding by Brian Hazard Music Marketing with QR Codes What indie Musicians Should Know About Physical Distribution An Overview of Music Publishing Record Label Contracts: The Basics CD Manufacturing Best Practices for Indie Musicians 10 Ways to Trade a Song for an Email Address A Few Reasons Indie Musicians Should Hope Spotify Succeeds A Fan Found You on Facebook, Now What? 10 Email Marketing Tips for Musicians Thank you for stopping by … Read entire article »
The 21st Century Indie Band Manager
I always like talking with indie bands and band managers about their top marketing priorities and successes in hopes of learning about some innovative new approaches to music marketing. I was talking with a band manager not too long ago about his marketing priorities for the biggest band he represents and was shocked at his answer. This manager told me the key to his band’s success was radio play. What? Really?? I was speechless. Did he … Read entire article »
Income Statements in the Music Business
This post on income statements is part of our Music Biz MBA blog series. An income statement, also commonly referred to as a profit & loss or P&L statement, reports how much money a band or artist makes (or loses) during a specific period of time. The period of time for income statement reporting can be a month, a quarter or even for the duration of a tour. Cash vs. Accrual Accounting The first step of creating an … Read entire article »
Filed under: Biz Blog, Featured, MusicBiz MBA
What Artists Should Know About ReverbNation’s Promote It
Running a Facebook ad campaign is confusing. You bid for ad placement, but the price you pay bears little relation to your bid. What’s the difference between reach and social reach, connections and clicks, CPC and CPM? More importantly, is there any way to tell how many people played, downloaded, and shared your song, or signed up for your mailing list? (answer: no, there’s not) ReverbNation’s new Promote It tool addresses those shortcomings, and then some. … Read entire article »
A Fan Found You on Facebook…What’s Next?
By Patrick Faucher, Founder and CTO, Nimbit, Inc. There’s been a lot of news that’s come out about Facebook Music, but I’ve noticed that a real important point has been missed in most of the coverage, particularly for independent musicians. Everything that was announced had to do with music discovery (Spotify, Rdio, etc.) and you just have to look at the new Ticker to see that more people will be sharing and discovering more music than ever … Read entire article »
