I was surprised to read the article titled "For Some, Free Music Is An Investment That Pays Off" by Jon Carmanica that highlighted the benefits of free music for the artist. At first glance, I thought it would discuss that some how free music is lucrative for the consumer, but after reading the article it makes sense that the argument is contrary. With the value of the advertising industry, free advertising is something to be cherished.
Some artists today that are hot on the music scene started out by releasing free videos or audio's online. Carmanica mentions Drake, J Cole and Wale. This material is then tossed from one social media outlet to the next giving an idea of how well received in the public the songs are. Keep in mind, that often the success of the song is timing; an artist will strategically release a new song when already established and highly regarded artists aren't. The numbers reflected from the release is something called pent up demand or proof of concept; which is the strategy for how free releases benefit the artist. Proof of concept is the idea that "an artists virtual fame can translate to fans spending real-world dollars on a product they could easily steal." Basically if a free release hits the top of the charts, there's a greater chance that the public will purchase that song and future songs. However, there's a fault in this model. Without released singles to promise consistent exposure the songs tend to become quickly forgotten and the following two week after the release, the sales tend to plummet.
The most valuable use of releasing free media, is what I think is common knowledge, to get your name and talent out there. While the days of "who you know" are still very present, the internet can be used as a medium to connect to people who you don't know, but who matter.
On the contrary, "The Music Industries New Internet Problem" by Douglas Macmillan brings to light an issue with free music sharing that isn't as advantageous: free online radios. I just about solely listen to Pandora, therefore I am probably case and point for the argument of the article. Macmillan argues that these free online music radios don't serve as a catalyst for purchase. Here's why I agree.
I love the "bookmark" feature on Pandora. It lets me remember what songs I like and then access those that are marked so I can buy the song. The problem in profit for the artist is that I usually only buy one song. I rarely buy the artists album because I know I can just type the artists name in Pandora and hear most of the songs I'd want to hear on the album anyway. And if it plays something I don't want to hear, I just press "skip."
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