As reported by Digital Media Wire, in a panel entitled Band as Brand at the Canadian Music Week’s digital music & media summit, Terry McBride of Nettwerk Music Group suggests that in order to align the Artists’ interests with those of their record label or management company, they should get stock options, much like the company executives get. That way, it would be a true partnership in building the artists’ brands for the long run.
He also went on to talk about how the music business can “monetize free” and used the example of how Gillette almost gives razors away for free in order to make money off selling razorblades.
“If you see the Artist as a brand, then all of a sudden you have several verticals of monetization at your disposal. It could be ring-tunes, clothing or live-shows etc…“
Additionally, McBride points out that record labels don’t have the marketing muscle of some of the consumer products companies anymore. So he expects we’re going to see a lot more of ‘brand alignment’ over the next 18 months.
Terry McBride: “A True 360 Deal Should Include Stock Options” | Digital Media Wire
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