New Embryonic Business Models for Music
The quest is still on to find new business models for music. MusicLessons an European Commission funded project has investigated some and published a report. They list a number of rather conventional online business models – nothing new -, but also look into some p2p related business models. Its a good report
, but its a shame they have not done many case studies. This is why the next phase of the OpenBusiness Wiki will be interesting, where will look directly at the business models – their pros and cons.
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I am launching a promotional digital media asset management system for record labels with a partner who has been doing digital media strategy for 10 years and has 16 record labels as customers. We will be offering RSS feeds of premium content and we are currently negotiating various partnerships with enterprises working in both the web and mobile phone space. I want to do more than compete in the “attention economy” and I’d like to explore revenue modles that provide a return for all the participants and in particular give back to the artists who create the content for our feeds.
I am concerned about competition from VC funded entities without a revenue model who are focused on getting attention and then getting acquired by Yahoo. I am new to this site, so I don’t know yet about the extent to which others have posted models that will assist me.
An example of a new model that monetizes feeds would be bundling downloads with other merchandise, e.g. “get a free download when you buy these jeans.” And of course advertising of all sorts is growing rapidly.
I am interested in hearing from others creating new business models for new media. Our website is http://www.mediarica.com