Hurtwood Media A2 - Formula for Future Music Business Model cont.

CwF + RtB = $$$$

Could alternatively stand for something different.

CwF - Connect with Fans

could stand for 

                  Compete with Free

and

RtB - Reason to Buy

could stand for

                Return to Business

Rather than focus on complaining about piracy and worrying about new technologies.

Focus on a Business Model that actually Works.

and although its frustrating to hear for most industries the ULTIMATE thing is that all you NEED to do is:

     CONNECT         give them a REASON      >because it works

WITH THE FANS         TO BUY                    

                                                         for musicians both BIG and small

Renzor is leading others and helping them to use it in their own, unique way all they need to do is use this 

simple formula.

Hurtwood Media A2 - Michael Manick's presentation on Trent Reznor and his Formula for Future Music Business Models

Michael Manick works at the company 'Floor64' where they work to try and help people to understand new media and social media as well as helping to connect with different communities with a mutual benefit.

On January the 17th 2012, Manick gave this 15 minute presentation at MidemNet in Cannes explaining the importance that musician Trent Reznor as had within the music industry and the way in which he has produced a Successful Music Business Model.

Trent Reznor uses this a simple formula (below) that is the basis for making money in the music Business:

CONNECT with FAN's + REASON to BUY = THE BUSINESS MODEL

This has proved to be difficult for those to combine these two elements in a way that actually allows them to make money.

HOWEVER Reznor has proved through many different

ways that this is in fact a very simple process, and used in the right way 

can be EXtremely successful.

Some examples of the ways that Reznor connected with his audience are below:

• Alternative Reality Game
• connection with fans
• energised them, excited them

• USB sticks dropped in his gigs toilets
• engaged with fans
• RIAA were not happy with this leaking and in some ways this limited fans

• His CD changed colours acording to heat, so when it was played
• this gave people the reason to buy a physical copy.

Due to the above reasons Reznor was dropped by his label and was forced to go solo, this in fact enabled him to produce his work in his own way and therefore not liable to anyone else in the process.

> He gave people REASONS as to why they should Buy and Give him money <

With his new 36 track album ' Nine Inch Nails', Trent did just this through a variety of different ways and  techniques.

1. Started with free downloads

• 36 tracks - 9 were FREE
• $5 36 songs
• $10 two disc CD set + 16page booklet

1. $75 Deluxe Addition Package
2. $300 Ultra-Deluxe limited addition package 

• only 2500 of these
• personally signed - makes them Special and Unique

These SOLD OUT in 30 hours!!

This album continued to sell throughout the year of release (2008) and proved that Reznor's 'formula' that he was working by was successful.

Aslong as you can connect with your fans

AND give them a Reason to buy there's plenty of money to be made.

2 Months after Trent Reznor released an album 'The Slip' which was Entirely FREE!!

• Highquality downloads
• Had an option of Mp3 or LossLess version

He also produced a map using Google Earth showing where everyone else in the world was downloading from. Yet another cool way to connect with fans.

When we released this album he also put out the concert dates. 

His live shows were not just a show - it was an ENTIRE entertainment experience, one not to miss.

He also put together an online package showing info and songs of the support acts that would be performing before him on the day. Yet AGAIN giving fans and audience more of a reason to connect and therefore buy his tickets.

Moreover, he put together CD's and Vinyl's with exclusive, limited edition content with a ton of extras.

'You have to CONNECT with Fans all the time and Keep it UP'

A great ad easy way of doing this is through the use of the internet and of course Trent used this to the best of his ability. His website enabled him to have an on going connection to his fans and the public.
Reznor's website was full of all kinds of interesting and technical attributes. He had the obvious:

• music to listen to
• chat
• forums
• community stuff

But Trent wasn't going to let this kind of opportunity go to waste. On his website he included extra things like:

• Aggravated photo's
• collaborations of professional photo's and fans own personal photos.
• Created wallpapers
• able for fans to download
• Use of videos
• a mixture of fans videos and his own.
• there was no legal requirements, enabling people to download and share freely.
• 
  
• concert dates
• co-ordinates for fans to hunt down free tickets to gigs
• hidden tickets
• Trent sent out a 10page survey
• He also sent out an email that made him sounds human! - a very difficult thing to do when in the music industry.

Trent Reznor is constantly experimenting and doing new things.

Which is what makes him so unique

He even went on to give out 450 gigabytes for free - in HD VIDEO quality stating the below:

'I'll bet some enterprising fans could assemble something pretty cool'.