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Record Label Marketing, 3rd Edition

Book Description

Record Label Marketing, Third Edition is the essential resource to help you understand how recorded music is professionally marketed.

Fully updated to reflect current trends in the industry, this edition is designed to benefit marketing professionals, music business students, and independent artists alike.

As with previous editions, the third edition is accessible for readers new to marketing or to the music business. The book addresses classic marketing concepts while providing examples that are grounded in industry practice.

Armed with this book, you’ll master the jargon, concepts, and language to understand how music companies brand and market artists in the digital era.

Features new to this edition include:

  • Social media strategies including step-by-step tactics used by major and independent labels are presented in a new section contributed by Ariel Hyatt, owner of CYBER PR.

    An in-depth look at SoundScan and other big data matrices used as tools by all entities in the music business.

  • An exploration of the varieties of branding with particular attention paid to the impact of branding to the artist and the music business in a new chapter contributed by Tammy Donham, former Vice President of the Country Music Association.
  • The robust companion website, focalpress.com/cw/macy, features weblinks, exercises, and suggestions for further reading. Instructor resources include PowerPoint lecture outlines, a test bank, and suggested lesson plans.

Table of Contents

  1. Cover
  2. Title
  3. Copyright
  4. Dedication
  5. Contents
  6. Acknowledgments
  7. About the Authors
  8. About the Contributors
  9. CHAPTER 1 Introduction
    1. Success and Where Is This Going?
    2. What Creates Success?
    3. Music within the Entertainment Industry
    4. So Who Zooms Whom?
    5. Revenue Streams of the Industry
    6. Record Label Survival Today
    7. The 360 Deal
    8. The Advantage of Multiple Revenue Streams
    9. Music as a Tool
    10. Publishing
    11. Ticket Sales and Concert Revenues
  10. CHAPTER 2 Marketing Concepts and Definitions
    1. Selling Recorded Music
    2. What Is Marketing?
    3. The Marketing Mix
    4. Showrooming and Shrinking Retail Inventories
    5. Are the Four P’s Dead?
    6. Conclusion
  11. CHAPTER 3 Market Segmentation and Consumer Behavior
    1. Markets and Market Segmentation
    2. Market Segmentation
    3. Target Markets
    4. Consumer Behavior and Purchasing Decisions
    5. High and Low-Involvement Decision Making
    6. Decision-Making Process
    7. Conclusion
  12. CHAPTER 4 Marketing Research
    1. Introduction
    2. Research in the Music Industry
    3. Types of Research
    4. Overarching Research Issues: Validity and Reliability
    5. The Research Process
    6. Choosing a method
    7. Syndicated Research
    8. Custom Research Firms
    9. Tracking Consumer Behavior on the Web
    10. Conclusion
  13. CHAPTER 5 The Value of Branding in the Music Business
    1. History of Branding
    2. Branding Basics
    3. Brand Architecture
    4. Branding in the Music Industry
    5. Successfully Creating an Artist’s Brand
    6. Defining the Artist and Developing a Brand Identity
    7. Defining the Artist’s Audience
    8. Promoting and Building the Brand
    9. Maintaining the Brand
    10. The Role of Corporate Partnerships in the Music Industry
    11. Finding the Right Brand Partner
    12. Cause Marketing with a Brand
    13. The Future of Music Partnerships
    14. Conclusion
  14. CHAPTER 6 The Marketing Plan
    1. Introduction
    2. Who Gets the Plan?
    3. What’s In the Plan?
    4. Timing
    5. The Importance of Street Date
    6. Marketing Strategy
    7. Conclusion
    8. Roadmap
    9. Sales/Marketing
    10. Radio
    11. Video
    12. Television
    13. Press
    14. Online
    15. Licensing
    16. Branding
    17. Merch
    18. Advertising
    19. College Marketing
    20. Lifestyle Marketing
    21. Assets
    22. Promo Tour at a Glance
    23. Upcoming U.S. Tour
    24. Top Ten Markets
    25. Brand History
  15. CHAPTER 7 The U.S. Industry Numbers
    1. Sales Trends
    2. Genre Trends
    3. Market Share of the Major
    4. Outlets
    5. Catalog Sales
    6. Industry Concentration
    7. Conclusion
  16. CHAPTER 8 Label Operations
    1. Getting Started as an Artist
    2. Business Affairs
    3. Artists and Repertoire: How Labels Pick and Develop Artists
    4. Artist Development/Relations
    5. Creative Services
    6. Publicity
    7. Radio Promotion
    8. Sales and Marketing
    9. Partnership and Branding
    10. Social Media
    11. Independent Labels
    12. Perform, Perform, Perform. Then Perform Some More
    13. Give Away Free Music
    14. Build a Social Media Presence
    15. Make Professional Connections
  17. CHAPTER 9 Record Label Finances
    1. Profitability of a Project … or the Lack Thereof!
    2. SRLP: Suggested Retail List Price
    3. Card Price
    4. Discount
    5. Gross Sales
    6. Distribution Fee
    7. Gross Sales After Fee
    8. Return Provision
    9. Net Sales After Return Reserve
    10. Returns Reserve Opp/(Risk)
    11. Gross Physical Sales
    12. Gross Digital Units/Albums and Singles
    13. Gross Streaming Revenue: SoundExchange (Non-interactive)
    14. Gross Streaming Revenue: Spotify (Interactive)
    15. Total Net Sales
    16. Cost of Sales
    17. Gross Margin Before Recording Costs
    18. Gross Margin
    19. Marketing Costs
    20. Contribution to Overhead
    21. Ways of Looking at Project Efficiency and Effectiveness
    22. SoundScan and Sell Off
    23. As a Predictor Equation
    24. Break-Even Point
    25. A Look at Real P&L Statements
  18. CHAPTER 10 Publicity
    1. Introduction
    2. Publicity Defined
    3. History
    4. Label vs. Indie Publicist
    5. Tools of the Publicist
    6. The Press Kit and EPK
    7. Photos and Videos
    8. Press Release
    9. The Anatomy of a Press Release
    10. The Biography
    11. Press Clippings
    12. Publicity and Branding
    13. The Publicity Plan
    14. Budgets for Money and Time
    15. Publicity Strategy and Outlets
    16. Television Appearances
    17. Charities and Public Service
    18. Bad Publicity
    19. Conclusion
  19. CHAPTER 11 Social Media
    1. The Concept of Tribes
    2. Internet Marketing: Artist and Label Websites
    3. Newsletters
    4. Facebook
    5. YouTube
    6. Twitter
    7. Instagram
    8. Pinterest
    9. Blogs
    10. Conclusion
  20. CHAPTER 12 The Business of Radio
    1. Radio
    2. The Business
    3. The Radio Broadcasting Industry
    4. The Radio Station Staffing
    5. Radio Audiences
    6. Radio Formats
    7. Targets of Radio Formats
    8. What Is Important to Programmers?
    9. Ratings Research and Terminology
    10. Radio Programming Research
    11. The Changing Face of Radio
    12. Satellite Radio
    13. HD Radio
    14. Internet Radio
    15. Getting Airplay
  21. CHAPTER 13 Promotion, Airplay, and The Charts
    1. Radio Promotion
    2. Promotion
    3. Promoting
    4. History
    5. Getting a Recording on the Radio
    6. Promotion Department
    7. Label Record Promotion and Independent Promoters
    8. Satellite Radio Promotion
    9. The Charts
    10. Other Charts That Measure Popularity
    11. Other Sources to Track Music Popularity
  22. CHAPTER 14 Music Video
    1. Video Production and Promotions
    2. History of the Music Video
    3. The Music Video Today
    4. Budgeting and Producing the Music Video
    5. Uses for the Music Video
    6. The Importance of Video in Viral Marketing
    7. Sales and Licensing
    8. Video Streaming as a Source of Income
    9. Programming
    10. Label Staffing
    11. Beyond the Music Video
    12. Video is Everywhere
  23. CHAPTER 15 Music Distribution and Music Retailing
    1. Introduction
    2. The Big 3 and More
    3. Vertical Integration
    4. Music Supply to Retailers
    5. Role of Distribution
    6. Consolidation and Market Share
    7. Digital Distribution
    8. Digital Revenues
    9. Future Trends
    10. The Music Retail Environment
    11. Top 10 Accounts and Forecasting
    12. Pricing
    13. Actual Pricing of Product
    14. Where the Money Goes
    15. Store Target Market
    16. Internet Marketing and Sales
  24. CHAPTER 16 Technology and the Music Business
    1. Introduction
    2. Big Data
    3. Entertainment and Big Data
    4. Billboard and SoundScan
    5. A Look at the SoundScan Data
    6. SoundScan Marketing Reports
    7. The System
    8. Definition of Project Units
    9. Reports
    10. Report Filters
    11. Dashboards
    12. A Deeper Look at all Data
    13. Lifecycles
    14. Classic Product Lifecycles
    15. DMAs and Market Efficiencies
    16. Other Tools Within the Industry
  25. CHAPTER 17 Tour Support and Sponsorships
    1. Tour Support
    2. Tour Sponsorship
    3. Products in the Music
    4. Branded Music
    5. Lifestyle
    6. The Benefits
    7. Soundtracks and Compilations
    8. Enhancing Careers
    9. Product Extensions and Retail Exclusives
    10. Brand Partnerships
  26. CHAPTER 18 Grassroots Marketing
    1. Introduction
    2. The Power of the Word of Mouth
    3. Street Teams
    4. The Blurred Line from Grassroots to Guerilla Marketing
    5. Guerilla Tactics
  27. CHAPTER 19 Advertising in the Recording Industry
    1. Basics of Advertising
    2. Consumer Advertising: The Media Buy
    3. Comparison of Media Options for Advertising
    4. Media Planning
    5. How Advertising Effectiveness is Measured
    6. Coordinating with Other Departments
  28. CHAPTER 20 Epilogue
    1. A New “Rental Culture”
    2. Continued Fragmentation of the Market
    3. More Mobile Than Ever
    4. Watching the Horizon
  29. Index