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Leveraging the Digital Music Revolution for Profit

The biggest question in my mind these days regarding the music industry is “where are things going and how does an aspiring artist or band succeed?” By this, I mean, what will be the blueprint or prevailing philosophy or method that independent, DIY artists use to “make it” in this business?

As everyone knows, the traditional record industry in a complete free fall, rendering record sales less relevant every day. Radio is becoming less effective at a similar rate, since the advent and exponential growth of iPods, iTunes, Pandora, and other on-demand music mediums. And the market (especially in Portland, Oregon) is more saturated and super-competitive than it has ever been in the history of mankind. And need I mention the rising costs and expenses a performing artist must endure to mix, master, and manufacture new music, let alone attempt to go on the road and share their creation. Wow. It’s a crazy time to be in the music biz.

From time to time however, I come across smart and unique strategies that give me a glimmer of hope during this uncertain time. By themselves, I have yet to find any single strategy or tactic that is anywhere close to being “the answer.” But it doesn’t mean they aren’t worth learning about and filing away as something that may combine to be one small piece of a puzzle, which could, maybe someday soon, evolve into a solution. Take Radiohead‘s release of In Rainbows. Brilliant idea…but in an of itself, it’s hardly the answer for your typical indie artist, right?

One small tactic that I came across today that is worth sharing, is something that good ‘ol Seattle rockers Pearl Jam have recently integrated into their strategy – leveraging the digital music revolution as a means of making profit and building their fan base. Personally, I think they’re on to something. Read about it here:

The Seattle PI: Pearl Jam offers more bootlegs

Eddie Vedder of Pearl Jam


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