Driving back from Zurich, today, I recorded a quick podcast on 3 key trends that I have observed as far as music (and other content) commerce on the Internet is concerned.
The 3 trends are:
Freemium: provide something that does not cost you very much but that has real value to the fan i.e. the potential buyer, for free. Get your audience hooked, and then convert between 5% – 50% of them into paying users. Do what Google, Skype, Ning, LinkedIn, Habbo Hotel, Flickr, Linux, RedHat, Pandora and many others have done. I have written a lot about this, here on the MidemNet blog, and otherwise. Freemium strategies will be very successful in the newly forming music industry, so…be sure to investigate this.
Following: the complete reversal of traditional, push and centralized marketing. Don’t push anything – get the fans / consumers / aka your users to follow you, rather than forcing them or interrupting them with expensive advertising. Twitter is the best example for this (please note that in the podcast below, I say ‘Flickr’ by mistake -which works, too – but I meant to say Twitter of course – sorry!)
Flat Rate: yes, the much discussed ‘Music Like Water’ and public digital music license concept is indeed going to become reality. It’s been almost 7 years that I have been proposing this (riffing off David Bowie’s NYT comments in 2002), along with my “Future of Music” book co-writer Dave Kusek – and it’s finally happening in Denmark, in China, in the Aisle of Man, maybe in Canada, maybe in Germany, maybe in Iceland. Read more at MusicLikeWater.com or search my first book for ‘music like water’ using Amazon’s fancy tool.To record this Audioboo (yes… I was wearing a headset) I used my iPhone and the pretty cool Audioboo app, which allows you to record and publish to the web all in one go, and then share it via a widget (see below).