How has the cost of music videos affected today's artist?
Is the music video still important to artists today? This was a question I was asked recently and I thought for a minute before I answered. I thought about what a music video is used for. A music video is used as a promotional & marketing tool for the artist and that particular song/single. If promoted right and liked by people it can work wonders for an artist. Case in point Beyonce's "Single Ladies"!
I thought about the outlets available to promote your video. Have they grown or shrunk? Well the traditional outlets such as MTV, VH1 & BET play less & less music videos since the advent of reality television and other alternative programming but with the internet the options are endless. Bloggers, social media sites, websites dedicated to the playing of music videos & that artist's or label's website are all places that can be used to promote the artist & song.
And then I thought about the "cost" of the average music video as compared to the results of the video. If we go with the premise that the marketing dollar budgeted is based on the projection of sales then as a "new" artist costs to make a video should be very low when, if you are realistic you will understand that there is a 90% chance your sales will be minimal. In 2011, the industry released 76,875 new albums that sold at least one copy, and they accounted for 34% of the year's sales; 90% of that take was from the top-selling 1500. This statistic proves what I said! So, in short, I believe videos are still an important marketing tool when costs make sense! I say take the 3C approach! Creative, Cool & Cheap!
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