Chapter on "Symbiotic Relationship Between Musicians and Fans"

Chapter 6 pages (2730 words) Sources: 5

[EXCERPT] . . . .

The revenue generated per view was $0.65 (IFPI Digital Music Report 2013 Engine of a digital world, 2014).

Direct to Fan (D2F)

Another popular strategy that musicians of the modern era utilize to generate revenue is the Direct to Fan or D2F approach. The musicians and artists engage with the fans on a regular basis using the internet -- the social media and the personal websites. This is but an investment made by the musicians in terms of time and effort to create a strong fan following to whim the musician can fall back upon in times of need-for example, the collecting money for a show or a performance or for similar other efforts (Musicians' Union., 2012). This approach empowers the musicians and the content creators to reach out to their fans and supporters directly and independently. The aim of a direct to fan approach by artists and musicians can be several that can include launching of a crowd-funded campaign, hosting and sharing their audio or videos, opening of a personalized music and music merchandise web store or securing distribution to the leading digital music stores. There are also a number of tools that can be used for this purpose by the musicians that are reasonably cost effective (Musicians' Union., 2012).

Bandcamp, the music and merchandise platform claims that artist have been able to make well over $36 million by suing the website for direct to fan promotions. Kickstarter, another leading crowd funding platform claimed to have helped musicians make over $64.4 million in music related projects from their fans directly (Kastrenakes, 2014).

One of the most notable examples in this aspect is the success story of Amanda Palmer who managed to garner revenues of $1.2 million from a Kickstarter campaign and the self-released success In Rainbows by Radiohead in 2007.

The Rainbow's urged the fans to pay whatever they could for a digital copy of their album and the group managed to sell more than 122000 copies just in the first week of the digital release of the album. This was possible because the group had maintained a yearlong interaction with the fans over the internet. Other examples of effective inter-use by the groups include Trent Reznor who were efficient in successfully connecting with their fans and brought out several schemes for them to buy on a number of occasions such as on the occasion of the Nine Inch Nails release of Ghosts I-IV.

These are examples where the musicians used the 'connect' with the fans through the internet to generate revenue for a number of purposes. Thus the internet presents a huge opportunity to the musicians, not only through the usual format of streaming and advertisement revenues through views of video clips but also by regularly connecting to them and using the fan following to make revenues in a number of legitimate ways.

Methodology

The process of collecting information and data for the purpose of making decisions is called methodology. In academic research, publication research, interviews, surveys and other ways of gathering relevant information techniques are some of the examples of methodological use (Samuels, Biddle and Emmett). Research methodology is also defined as the use of methods that are applied systematically and theoretically for analysis. Methodology is also defined as the analysis of methods that are employed for research into particular topic. Issues like paradigm, model of theories and quantitative and qualitative techniques make up methodology (Welman, Kruger, Mitchell & Huysamen, 2005)

In this study we would deal with both qualitative and quantitative research methods. The paradigm concept of positivist and post-positivist is the approach in quantitative methodology. The concentration of this methodology of research is on the collection of data for the purpose of converting them into statistical forms that can be used for calculations to arrive at conclusions. Maintaining of objectivity and not letting the researcher's personal behavior or attitude getting reflected in the research results is the primary caution in this research methodology (6 & Bellamy, 2012).

Qualitative methodology on the other hand deals with the concept of social constructivism and this forms the basis of this type of methodology. The focus is on the reality that is socially constructed.

This research would primarily be concerned with the collection of information from secondary sources and from indirect methods. Previous research and any data that is available in the public domain is included in this type of data collection (Snider & Nathens, 2010). Published reports, books, journals, government reports, reports by various organization, official company reports and data available in the public domain, published papers by colleges and universities websites and e-journals all comprise the sources of secondary data. The collection of secondary data however would have to follow certain norms. The data collected and the source of the data needs to be authenticated. The data should be of a recent nature and should be directly related to the topic of the research. The data collected should be of a critical nature which means that opposing sides of data also needs to be taken into consideration. The advantage of using secondary data collection method is that it reduces both costs and time of research data collection (Creswell & Plano Clark, 2007). The primary framework that needs to be followed while collecting secondary data and using secondary sources are concerned with elements like authority, seminal, currency and relevance. Such work that has improved research on the topic in a significant manner is described as a seminal element.

References

6, P., & Bellamy, C. (2012). Principles of methodology. Los Angeles: SAGE.

Arnold, S. (2000). The Joy of Six: Internet Content Revenue Models. Arnold Information Technology, 1-8. Retrieved from http://www.arnoldit.com/articles/pricing.pdf

comScore, Inc.,. (2013). 2013 U.S. Digital Future in Focus. Retrieved 18 May 2015, from http://www.comscore.com/Insights/Presentations-and-Whitepapers/2013/2013-U.S.-Digital-Future-in-Focus

Creswell, J., & Plano Clark, V. (2007). Designing and conducting mixed methods research. Thousand Oaks, Calif.: SAGE Publications.

David, R. (2009). The One Bright Spot In The Music Business. Forbes, p. 1.

Gannes, L. (2009). From Monitor to Monetize: The Evolution of YouTube Content ID. Gigaom.com. Retrieved 18 May 2015, from https://gigaom.com/2009/09/28/from-monitor-to-monetize-the-evolution-of-youtube-content-id/

IFPI Digital Music Report 2013 Engine of a digital world. (2014) (pp. 4-30). Retrieved from http://www.ifpi.org/content/library/DMR2013.pdf

Kastrenakes, J. (2014). Bandcamp is going to let musicians offer their own digital subscriptions. The Verge. Retrieved 18 May 2015, from http://www.theverge.com/2014/11/11/7196017/bandcamp-launching-subscriptions-for-individual-artists

Kickstarter.com,. (2015). Kickstarter Stats -- " Kickstarter. Retrieved 18 May 2015, from https://www.kickstarter.com/help/stats?ref=footer

Madden, M. (2004). Artists, Musicians and the Internet. Washington DC: PEW INTERNET & AMERICAN LIFE PROJECT.

McIntyre, H. (2014). At 2 Billion Views, 'Gangnam Style' Has Made Psy A Very Rich Man. Forbes. Retrieved 18 May 2015, from http://www.forbes.com/sites/hughmcintyre/2014/06/16/at-2-billion-views-gangnam-style-has-made-psy-a-very-rich-man/

Musicians' Union. (2012) (pp. 3-11). Retrieved from http://www.musiciansunion.org.uk/wp-content/uploads/2012/12/The-Working-Musician-report.pdf

Rolling Stone,. (2013). Seven Ways Musicians Make Money Off YouTube. Retrieved 18 May 2015, from http://www.rollingstone.com/music/news/seven-ways-musicians-make-money-off-youtube-20130919

Samuels, W., Biddle, J., & Emmett, R. (2009). Research in the history of economic thought and methodology. Bingley: Emerald JAI.

Snider, C., & Nathens, A. (2010). Using mixed methods research to develop an emergency department-based youth violence secondary intervention. Injury Prevention, 16(Supplement 1), A188-A188. doi:10.1136/ip.2010.029215.670

Thomson, K., & Cook, J. (2015). Artist Revenue Streams: A Multi-Method Research Project Examining Changes in Musicians' Sources of Income Kristin Thomson and Jean Cook. https://cyber.law.harvard.edu. Retrieved 18 May 2015, from https://cyber.law.harvard.edu/sites/cyber.law.harvard.edu/files/Rethinking_Music_Artist_Revenue_Streams.pdf

Valencia, B. (2013). New Business Models in the Music Industry. Rethink Music, e Global Entertainment and Music Business program Berklee College of Music -- "… READ MORE

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