DEMOGRAPHICS how is music marketed, how will you market a music product?
Known as the starting point or at least the second pit stop in marketing any product, musical or otherwise, demographics are key for anyone who wants to target or corner a selling group. What are demographics? A recent lecture given by our tutor Andy Pettitt incited that, when pertaining to a musical product, demographics are a way of breaking down the general public in order to compartmentalise or this case, classify WHO youre selling to and HOW youre going to sell it to them.
In this presentation I will discuss my understanding of demographics and how they are applied to successfully marketing a musical product. In addition I will be relating this to my Final Major Project and how I might use what Ive learnt to profit from my end product. Returning to the compartmentalisation and classification of the general public, one way this often happens, particularly in the UK is through the class system. THE NRS CLASS GRADING SYSTEM
There are a few reasons why this system doesnt work when determining demographics for marketing music. Why? There isnt a sure-fire way to ensure that ANY of the above criteria will be interested in a specific form or genre of music. You couldnt say for instance that GRADE A WILL LISTEN TO CLASSICAL or GRADE C WILL BE INTERESTED IN ROCKABILLY. Cant do that.
The main way demographics can be used in marketing the sale and distribution of music is by using generalisations that are based on statistics. That being said, marketing methods such as advertising can manipulate what demographic results are produced. Just as easily as the demographics change the way music is advertised.
LIVE MUSIC INDUSTRY
As an introduction to my Music Industry Portfolio I have been asked to complete a proposal for a live music event and compare it to a more major, large scale event that has since passed. This assignment seems to be mainly finance-centric, so there will be a focus on budgeting and an attention to the many areas of service that go into an event like the following. The comparison between my event and the case study will be conducive, to understanding what the rudimentary requirements are for a live music event and which internal/external staff should be considered for a successful endorsement.
In the instance of the case study, it begins with a large promoter (SJM) spotting a profitable opportunity in a free date at Shepherds Bush Empire and then them planning to organise a We Are Scientists concert there. So my opportunity is that Alex Winston is planning on making a visit to the UK this summer so I contact my venue of choice and I now have a prospective date.
ALEX WINSTON w/MOULETTES @ PROUD GALLERIES, CAMDEN
PROUD GALLERIES CAPACITY = 800
REASONABLE TICKET PRICE = 19
800 x 19 = 15200 MAX. REVENUE
This would be my simple proposal. Now the instant differences from the We Are Scientists case study, aside from the profile of the artist, is that not only am I planning on booking a separate support act for the same event but I am also charging less money for a smaller capacity. This presents a slight difference in budgeting because I have to allow enough money for two separate booking agent/management fees. Luckily both artists have representation that both manage them AND are their booking agents. This gives me a simplified rate to negotiate however, the average or going deal between the promoter and the agency is 50:50 but this has to go 3 ways. So assuming I sell out Proud Galleries, Im expecting roughly 5065 in profit. In the W.A.S. case study the booking agent/management insisted a contract standard that expects around 20% of the promoters cut was spent on advertising
MAX REVENUE: 15200 ESTIMATED COSTS: BOOKING AGENT/MANAGEMENT FOR ALEX WINSTON FEE FROM EMMA BANKS of CAA = 5060 BOOKING AGENT/MANAGEMENT FOR MOULETTES FEE FROM FRUSION = 5060 VENUE HIRE = 300 PROSPECTIVE PROMO COSTS RADIO/PRESS = 1015 CONTRIBUTION TO VENUE STAFF AND SECURITY = 750 SUBTOTAL COSTS = 12185
TOTAL ESTIMATED PROFIT = 3015 BANDS MANAGEMENT DEDUCT 10% BEFORE PASSING THE OFFER ON TO THEIR REPRESENTATION (IT NOW STANDS AT 4500) THE REPRESENTATION TAKE THEIR 20% COMISSION AND PASS THE OFFER ON WHICH IS NOW 3600
FROM THIS, THE TOUR MANAGER(S) WORK OUT THEIR BUDGET
ONE WAY THE MOULETTES CAN MAKE MORE MONEY THAN ALEXWINSTON ON THE SHOW IS THAT THEY REPRESENT THEMSELVES, SO THE MONEY ISNT FILTERED THROUGH THE RANKS. NATURALLY THEIR YOUR MANAGER HAS MORE MONEY TO PLAY WITH.
THE TOUR MANAGER(S) FOR EITHER BAND WILL BUDGET SOMETHING LIKE THIS
TOUR MANAGER 2 DAYS @ 150/day = 300 SOUND ENGINEER 1 DAY @ 120/day = 120 MONITOR ENGINEER 1 DAY @ 95/day = 95 LIGHTING ENGINEER 1 DAY @ 90/day = 90 STAGE MANAGER 1 DAY@ 200/day = 200 INSTRUMENT TECHS X 3 1 DAY @ 50 each/day = 150 TRANSPORT, FOOD + LODGING = 1000 EQUIPMENT HIRE = 400 PER DIEMS = 500 INSURANCE = 140
TOTAL COSTS = 3005
This is a worst case scenario however, the small capacity in addition to the affordable ticket price have left the artist Alex Winston and her band with only 16% of their original offer. They will be paid 595 (and she has a big band) Whereas The Moulettes will be left with 36% of theirs as they have no representation beyond their booking agent from the company Frusion paying them 1495, after costs.
DOES ANY OF THAT EFFECT ME AS A PROMOTER? NO COULD DAMAGE MY REPUTATION? YES WHAT COULD I DO? DECREASE MY CUT AND PAY THE BANDS DIRECTLY, AFTER COSTS. EMMA BANKS CCA GETS 560 ALEX WINSTONS MANAGEMENT GET 900 ALEX WINSTON GET 595 FRUSION GET 560 MOULETTES GET 1495