Kaiser Chiefs beat Illegal Downloading
June 3, 2011
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How do you stop people stealing music? Give them a cut of the profits. This is exactly what Kaiser Chiefs have done on their latest album, which they surprisingly released today. Basically, the listener pays 7.50 pounds to choose 10 of 20 new Kaiser Chiefs tracks, and create an album from. They can then on-sell this to other listeners and take a 1 pound profit of each additional sale. It’s all explained on the Kaiser Chiefs website.
But here’s the economic perspective. With such a sudden release, there’s minimal marketing costs. By doing something original, there’s going to be a large degree of word-of-mouth marketing as well. But most importantly, the financial incentive to each individual consumer will mean that they are going to be more inclined to buy an album in the first place. Of each additional sale, 6.50pounds will still go to Kaiser Chiefs. I personally think it is a very clever idea.
But at the end of the day, the best way to make money in the music industry is just to write good songs. I haven’t had a chance to make an opinion on this album yet.