The Future Is FREE
In this video Chris Anderson, author of Free: The Future of a Radical Price
Use free to reach a mass audience, and use paid to monetize the people who value it most.
We’ve seen musicians use this strategy already, Trent Rezner and Amanda Palmer are two of the more well known success stories, and it very much comes under Mike Masnick’s “Cwf + RtB” idea that we’ve discussed a lot. Giving your music to fans for free in order to strike a connection, then providing something of extra value that your more serious fans will eat up.
When you give your music away for free, you are increasing the chance of more people hearing it and broadening your fanbase. As your fanbase widens, you will have more people wanting to support you by buying merch, concert tickets, special editions etc., your imagination is your only limit. Amanda Palmer sold one of her fans an empty wine bottle for $300!
I urge you to experiment and find a business model that works for you. What is successful for someone else may not be successful for you, think outside the box and try out different things with your fans. You’re not going to be right all of the time, but it only takes one great idea!
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