Music as Product
Engaging in the music business is all about products. Whether you’re releasing an LP, putting on a show, or selling merchandise, you’re bringing a product to the market.
LP, EP, or single: The ultimate music product made up of your best creative work, this is the main content you sell as an artist.
Price: Determined by the streaming platforms or your own subscription platform (i.e., Patreon).
Packaging: Cover art and promotional materials.
Place: Streaming platforms like Spotify, Apple Music, Soundcloud, and Napster.
Events: This is the main way of engaging the music industry in earnest, and is also the most resource-intensive.
Price: How much a ticket costs should be determined by artist demand, venue location, and scope of the show.
Packaging: The concert poster and related materials you use to promote the show, as well as the experience of the show itself from the buyer’s perspective.
Place: The venue your event is held at.
Merchandise: This is the easiest way to make a profit in the music industry.
Price: The cost of your merch depends on the market price. A general rule of thumb is to price for a profit of 10-30%.
Packaging: Your merch is your brand and the people who buy and wear it are those who advertise it.
Place: You can sell your merch on platforms like Redbubble, Teespring, Etsy, Depop, or your own website. You can also sell it to thrift shops and rummage sales.
