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mandag 31. mars 2014

Music Lessons by Seth Godin

Seth Godin was inducted into the Direct Marketing Hall of Fame in 2013 one of three chosen for this honor. He is the author of 17 books that have been bestsellers around the world and have been translated into more than 35 languages. He writes about the post-industrial revolution, the way ideas spread, marketing, quitting, leadership and most of all, changing everything.

His web site is full of interesting articles, and one of them is of special value for those of us who try to build a music artist career. The article is named "Music Lessons", and it starts off like this:

Music lessons
Things you can learn from the music business (as it falls apart)

The first rule is so important, it’s rule 0:

0. The new thing is never as good as the old thing, at least right now.
Soon, the new thing will be better than the old thing will be. But if you wait until then, it’s going to be too late.  Feel free to wax nostalgic about the old thing, but don’t fool yourself into believing it’s going to be here forever. It won’t.

1. Past performance is no guarantee of future success
Every single industry changes and, eventually, fades. Just because you made money doing something a certain way yesterday, there’s no reason to believe you’ll succeed at it tomorrow.

The music business had a spectacular run alongside the baby boomers. Starting with the Beatles and Dylan, they just kept minting money. The co-incidence of expanding purchasing power of teens along with the birth of rock, the invention of the transistor and changing social mores meant a long, long growth curve.

As a result, the music business built huge systems. They created top-heavy organizations, dedicated superstores, a loss-leader touring industry, extraordinarily high profit margins, MTV and more. It was a well-greased system, but the key question: why did it deserve to last forever?

It didn’t. Yours doesn’t either.

2. Copy protection in a digital age is a pipe dream
If the product you make becomes digital, expect that the product you make will be copied.

There’s a paradox in the music business that is mirrored in many industries: you want ubiquity, not obscurity, yet digital distribution devalues your core product.

Remember, the music business is the one that got in trouble for bribing disk jockeys to play their music on the radio. They are the ones that spent millions to make (free) videos for MTV. And yet once the transmission became digital, they understood that there’s not a lot of reason to buy a digital version (via a cumbersome expensive process) when the digital version is free (and easier).

Most items of value derive that value from scarcity. Digital changes that, and you can derive value from ubiquity now.

The solution isn’t to somehow try to become obscure, to get your song off the (digital) radio. The solution is to change your business.

There are eleven more rules, and you can study them here.

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