Making dough "socially" online...

posted 4 Oct 2011, 13:19 by Jess Maher

Secondly if you are a creative content creator, making social contributions online, how do you make money out of this?

If you are a band or artist trying to make a working living, “socially”, its a hard fight. Two polar approaches from bands differ greatly in their approach. Consider them Band A and Band B.

Band A embraces the social aspects of free use, YouTube delivery of latest releases, encouraging sharing of their content. Their approach is to create a “meme”, a social trend aiming at their target audience to encourage them to buy their product and associated merchandise. They have created a brand and are working with traditional venture capitalists to make this business model work for them.

Band B on the other hand takes an alternative approach. They too utilise platforms such as YouTube, but its hard to make a living when iTunes is selling your tracks for only a few dollars. Their approach has been to utilise the wave of a good cause, doing an anti-bullying tour in Australia. This band offers their first album free to download on their website, after all its all about getting your name out there and your content heard. One has to be a rather big deal before any real money can be made over iTunes or from live performances.

What is the better approach is still unknown, they are just different ways of tackling this new digital world, and it is still unproven what the best strategy for making money is, if that is the intention.