The recent criticism by Thom Yorke of online steaming service Spotify is the latest indicator of an industry in flux. Once upon a time the music industry had a relatively uncomplicated business model – band or artist records song, record … Continued
Colin Cocaine's insight:
Social media is changing the music industry landscape dramatically. Music fans form their own communities to share opinions, leak extra or new content, and find the latest trends. Social media monitoring tools helps artists and labels track buzz and insight on a specific release. It also measures audience engagement and helps marketers understand the impact of their marketing efforts. "Identifying and engaging with fans is a crucial step in solidifying a band’s relationship with its audience." said contributor Kate Franklin. Social media is a great way to solidify brand relationships and making fan brand and artist loyal. This leads to fans listening to more of their music, buying associated products, and going to shows. It is also important to identify community opinion leaders and market through them. Posts seen from opinion leaders are seen as trusted and more credible then those from brands and marketers.
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