Bob Baker's The Buzz Factor
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June 11, 2010
Great Music Sales Lesson from the Raveonettes
Giving Music Consumers These 3 Choices Leads to More Revenue
Are you pulling your hair out trying to figure out how to make money selling single digital downloads and albums, while also wondering where physical CDs fit into the mix these days?
Well, Scott Cohen may have an answer. He manages a band called the Raveonettes and is the co-founder and international VP of The Orchard. Cohen just wrote an op-ed piece that appears on the Billboard web site. In it he reveals some interesting numbers from music sales data he's been able to crunch.
Here are the figures I found most interesting:
When Raveonettes fans were given a choice between purchasing a full-length digital album for $7.99 and buying a single track for 99 cents, they chose the single track 75% of the time.
As Cohen points out, most of a band's music sales revenue comes from album sales, not single-track purchases. So that wasn't a percentage to celebrate.
So the Raveonettes decided to try something different ...
Read the entire post here.
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Bob Baker is an author, speaker, teacher, indie musician and former music magazine editor dedicated to showing musicians of all kinds how to get exposure, connect with fans, sell more music, and increase their incomes.
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