As you know from reading this blog we think that 50 Cent is a genius and probably the smartest entertainer of our times. In a recent interview on live TV in Zagreb 50 Cent had this to say:
Pal Nordseth:“How are G-Unit Records doing in these times of file-sharing?
“Not so good….The advances in technology impacts everyone, and we all must adapt. Most of all hip-hop, a style of music dependent upon a youthful audience. This market consists of individuals embracing innovations faster than the fans of classical and jazz music.”
“What is important for the music industry to understand is that this really doesn’t hurt the artists.”
“A young fan may be just as devout and dedicated no matter if he bought it or stole it.”
“The concerts are crowded and the industry must understand that they have to manage all the 360 degrees around an artist. They, (the industry), have to maximize their income from concerts and merchandise. It is the only way they can get their marketing money back.”
“The main problem is that the artists are not getting as much help developing as before file-sharing. They are now learning to peddle ringtones, not records..They don’t understand the value of a perfect piece of art.”
This is brilliant stuff and exactly what the music industry doesn’t get. If we really break it down, the artist doesn’t make that much money from their album sales. We’ve all heard things like a Tribe Call Quest only make 30K from their record sells. The money comes in through endorsements, appearances, and concert sells. Kids will then buy the hat, mug, t-shirt, sneaker, eyewear, or sugar water that the artist pushes there after. The artist then makes a ton of money, the label makes back their marketing budget, and everyone is happy.
I will only buy albums from 3 artist: Prince, Me’shell Ndege’Ocello, and Janet Jackson. Other then those there are no other artist out there i would spend money
on to buy their album. But if they gave it to me for free and I found I liked that artist then i would support other things that artist does. Thus building a new relationship when there was otherwise a $10 fee to get a relationship between the listener and the artist going. But if the product doesn’t deliver then that $10 feels wasted and the fan is left with a bitter taste in their ears.
And lets be real…those leaded album on the Internet…85% of them are leaked by the marketing agency. It’s a great way to get a press story and make some people believe that buying the retail album will give you extra stuff found only on the retail CD. But they build that stuff into their marketing plans.
MAKE ALL MUSIC FREE! MAKE ALL MUSIC FREE! MAKE ALL MUSIC FREE!
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