Deys.ca: The future of getting a return on giving away your content.
Whitney Hoffman
· 1 year ago
Hi Bill- While I think we are building a culture of free, the honest truth is people won't do everything for free forever. People also don't always appreciate what they don't have to pay for, either. Ultimately, you have to find the price point where the basic economics of supply and demand meet. Is your stuff worth $9.99 per song? More? Less? Why or why not? If your music is a product you want to move, would you rather sell 2 at 9.99 or more at $1.99?
Is your goal just "to get your music out there" and have other people enjoy your work? How many people is that? Can you give them a sample for free that tempts them to want more, like selling cheese at the mall? (The first taste is free....the rest costs you).
So ultimately, whether it's music or cars or anything else, the evaluation on whether you should buy something depends on whether you "value" it enough to plunk down money for it, or not. Money keeps score. Just think- you may like a lot of artists, but there's a point where the cost of a concert ticket becomes too much for you, or the thrill of following a group around the world becomes financially untenable, and that line is not uniform for everyone.
And if what you have to sell is special and remarkable enough to catch on, then price becomes less of a sensitive feature- everyone will want one, even if it gets more expensive later on. They're hooked.
billdeys
· 1 year ago
There is an issue of devaluing your own work too. If people have been getting it for free all along eventually they may see your music as having less value. I personally don't feel it's the case but some people do.
chris
· 1 year ago
Interesting thought Bill. I think about this very thing. I wonder about the future of music. There is that old saying that says that which we get easily we esteem lightly.
All Comments
While I think we are building a culture of free, the honest truth is people won't do everything for free forever. People also don't always appreciate what they don't have to pay for, either.
Ultimately, you have to find the price point where the basic economics of supply and demand meet. Is your stuff worth $9.99 per song? More? Less? Why or why not? If your music is a product you want to move, would you rather sell 2 at 9.99 or more at $1.99?
Is your goal just "to get your music out there" and have other people enjoy your work? How many people is that? Can you give them a sample for free that tempts them to want more, like selling cheese at the mall? (The first taste is free....the rest costs you).
So ultimately, whether it's music or cars or anything else, the evaluation on whether you should buy something depends on whether you "value" it enough to plunk down money for it, or not. Money keeps score. Just think- you may like a lot of artists, but there's a point where the cost of a concert ticket becomes too much for you, or the thrill of following a group around the world becomes financially untenable, and that line is not uniform for everyone.
And if what you have to sell is special and remarkable enough to catch on, then price becomes less of a sensitive feature- everyone will want one, even if it gets more expensive later on. They're hooked.