Comments on: Is Pay What You Want Viable? http://www.grindefx.com/is-pay-what-you-want-viable/ Keeping you in tune with the music business. Fri, 14 May 2010 22:39:08 -0400 http://wordpress.org/?v=2.8.5 hourly 1 By: Dante Castro http://www.grindefx.com/is-pay-what-you-want-viable/comment-page-1/#comment-1982 Dante Castro Thu, 01 Oct 2009 22:27:16 +0000 http://www.grindefx.com/?p=2506#comment-1982 McBride's story is both aspirational and inspirational. I will reflect upon my own situation. This model would actually make the most sense in a genre we have come to know as RAP/HIPHOP. The MIX-TAPE is a staple of RAP promotion. People pretty much EXPECT a free product. This is the "taste test". SO... Why not take that FREE product and instead of presenting it as "FREE", present it as free PLUS "pay what you want". In the case of mix-tapes even a SINGLE CENT is more than you would have expected! (It's a WIN-WIN, however the key being not initially presenting as a "free" mixtape. Present it as a PRODUCT.) However, on another note... I see the results of this "pay-what-you-want" scheme as directly reflecting the performance of an artist at a venue. The quality of the artist on that specific date will determine how many people took a disc home and possibly even the ratio of buyers-to-freeloaders. What else can we learn about the people buying our Art? Well, by giving the consumers the ability to choose their own price, we can actively pursue an understanding of how they are "rating" your art. What is your art worth? Is this CD worth a Burrito and a Drink? Considering the average pay-outs are about 4-6$ (Rainbow ref.) it seems to be so! Just thoughts. McBride’s story is both aspirational and inspirational.
I will reflect upon my own situation.

This model would actually make the most sense in a genre we have come to know as RAP/HIPHOP. The MIX-TAPE is a staple of RAP promotion. People pretty much EXPECT a free product. This is the “taste test”.

SO…

Why not take that FREE product and instead of presenting it as “FREE”, present it as free PLUS “pay what you want”. In the case of mix-tapes even a SINGLE CENT is more than you would have expected! (It’s a WIN-WIN, however the key being not initially presenting as a “free” mixtape. Present it as a PRODUCT.)

However, on another note… I see the results of this “pay-what-you-want” scheme as directly reflecting the performance of an artist at a venue. The quality of the artist on that specific date will determine how many people took a disc home and possibly even the ratio of buyers-to-freeloaders.

What else can we learn about the people buying our Art? Well, by giving the consumers the ability to choose their own price, we can actively pursue an understanding of how they are “rating” your art. What is your art worth? Is this CD worth a Burrito and a Drink? Considering the average pay-outs are about 4-6$ (Rainbow ref.) it seems to be so!

Just thoughts.

]]> By: James Robinson http://www.grindefx.com/is-pay-what-you-want-viable/comment-page-1/#comment-1930 James Robinson Wed, 23 Sep 2009 17:19:20 +0000 http://www.grindefx.com/?p=2506#comment-1930 I was very resistant to this model, at first, but I have come around to the idea and now see the endless possibilities in it. Long gone is the "talent/fan" relationship. In order to progress this industry, we as industry insiders, must return power to the consumer and allow them to dictate our every move. The customer is always right. Pay-What-You-Want will, not only generate missing revenue, but give fans the option to support at whatever level they deem just. Retention in harsh times is vital to the stability of your business, or in this case, brand. Great post! I was very resistant to this model, at first, but I have come around to the idea and now see the endless possibilities in it. Long gone is the “talent/fan” relationship. In order to progress this industry, we as industry insiders, must return power to the consumer and allow them to dictate our every move. The customer is always right. Pay-What-You-Want will, not only generate missing revenue, but give fans the option to support at whatever level they deem just. Retention in harsh times is vital to the stability of your business, or in this case, brand. Great post!

]]> By: Chew http://www.grindefx.com/is-pay-what-you-want-viable/comment-page-1/#comment-1924 Chew Wed, 23 Sep 2009 02:05:43 +0000 http://www.grindefx.com/?p=2506#comment-1924 I love this model, I wish more MCs would go this route. nice post man I love this model, I wish more MCs would go this route. nice post man

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