While you make some great points, there's a big elephant in the room. Selling the product of education is directed at a very specific audience - people who want to make music. So if these people then sell the product of education to others who want to make music, it's like turtles all the way down. The general public enjoys music for its own sake, so these people will not be the target of this new way of generating money. So, the problem still stands. Artists can't make money from their music, they can only make money from teaching others. (Full disclosure, I make the vast majority of my income from creating online courses.)
Agreed! In the short term this is a good path for an artist, but what are the long term effects of this? Is my best career advice for a 16 year old I teach for him to learn video editing so he can sell courses on YouTube one day to make a living?
This is a great point, but let me explain my thinking.
I look at education not as the long-term and only solution, but the initial stepping stone for artist to get over the initial hurdle of being unknown (and broke). If they can generate ROI from education-based products, they can reinvest that into general marketing and advertising to go out and reach traditional "fans".
It's exactly what we're doing with our signed artists... we're building an initial fanbase that comes in for the education, and reinvesting in traditional marketing that reaches everyday fans. Eventually she'll be able to monetize directly without the need for the education-angle.
Education is just the initial flint to get the fire started (I think that's the right analogy). Does this make sense?
Sorry, just seeing this (didn't get an alert that you had answered, Michael). But, to your point - there's nothing new in what you're saying. Even Chopin and Mozart had to teach to generate revenue. So, I ask this in all sincerity - what exactly are you saying here that's going to fix the music industry? Because that's a bold claim, but so far, you've said we need to teach in order to get money to promote our music. That's not exactly fixing the music industry.
Spot on Michael! It’s almost even a bit sadistic looking at music as a marketing vehicle for streaming. That alone devalues the concept. But I’m loving the search for solution. 🙏🏻
While you make some great points, there's a big elephant in the room. Selling the product of education is directed at a very specific audience - people who want to make music. So if these people then sell the product of education to others who want to make music, it's like turtles all the way down. The general public enjoys music for its own sake, so these people will not be the target of this new way of generating money. So, the problem still stands. Artists can't make money from their music, they can only make money from teaching others. (Full disclosure, I make the vast majority of my income from creating online courses.)
Agreed! In the short term this is a good path for an artist, but what are the long term effects of this? Is my best career advice for a 16 year old I teach for him to learn video editing so he can sell courses on YouTube one day to make a living?
Hey Marina + Colin!
This is a great point, but let me explain my thinking.
I look at education not as the long-term and only solution, but the initial stepping stone for artist to get over the initial hurdle of being unknown (and broke). If they can generate ROI from education-based products, they can reinvest that into general marketing and advertising to go out and reach traditional "fans".
It's exactly what we're doing with our signed artists... we're building an initial fanbase that comes in for the education, and reinvesting in traditional marketing that reaches everyday fans. Eventually she'll be able to monetize directly without the need for the education-angle.
Education is just the initial flint to get the fire started (I think that's the right analogy). Does this make sense?
Sorry, just seeing this (didn't get an alert that you had answered, Michael). But, to your point - there's nothing new in what you're saying. Even Chopin and Mozart had to teach to generate revenue. So, I ask this in all sincerity - what exactly are you saying here that's going to fix the music industry? Because that's a bold claim, but so far, you've said we need to teach in order to get money to promote our music. That's not exactly fixing the music industry.
I've essentially come to the same conclusion and doing the same as well with my own unique offer given myself as an artist
Yes
Spot on Michael! It’s almost even a bit sadistic looking at music as a marketing vehicle for streaming. That alone devalues the concept. But I’m loving the search for solution. 🙏🏻
Yes... well unfortunately you have to call a spade a spade if you want to understand what you're up against.