Here, Just Take It! Download My Music, but Buy the Poster.
This blog was contributed by ZIO editorial assistant, Frances Cirenza.
The Future of Music Coalition Policy Summit, an annual consortium of people in the in music industry, are discussing how to adapt to the challenges presented by internet file-sharing and how the government is affecting their industry.
The most shocking statistic they revealed? Out of the 115,000+ albums released last year, fewer than 6,000 albums sold over 1,000 copies. That means that only 5% of all albums released will reach this incredibly modest milestone.
According to the summit, the new way to make it big isn't a platinum record but extensive marketing. Money from touring, merchandise, ringtones and usage in video game, commercial, and movie soundtracks is the lifeblood of music today, whether you're signed to a major or doing it all yourself.
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