You don't have to be rich to get this album. The industry formerly known as a profit-maker may be headed towards a shift, and Prince is the one blazing the trail. Though his new venture may not give him a huge boost in earnings, his new PR tactics are certainly getting his name in the media again. Sales numbers in the music industry are dropping overall, and instead of waiting for sales reports from stores, artists and the record companies that represent them are coming up with innovative tactics to increase revenue. While iTunes offers downloads a-la-carte, and other sites offer free download of one or two album tracks, Prince has decided to take it further.
On Sunday, July 14th, anyone in the UK who received The Mail was also given a free copy of Prince's album -- the entire thing. On top of that, he gave out free albums to everyone that purchased a ticket to his London concert. There are controversial views on Prince's approach, but the bottom line is that the man is in the media again, and he's getting the publicity his career was in need of.
Oddly enough, none of his music videos are available for download on YouTube.
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Trend Themes
1. Free Album Giveaways - Offering free albums to boost publicity and increase revenue is a trend in the music industry.
2. Alternative Revenue Sources - Artists and record companies are seeking innovative tactics to increase revenue amidst dropping sales numbers.
3. Controversial Marketing Tactics - Controversial marketing tactics are a trend artists are using to generate publicity and revenue.
Industry Implications
1. Music Industry - The music industry is seeking alternative revenue sources and innovative marketing tactics to counter dropping sales numbers.
2. Publishing Industry - The publishing industry could adopt alternative revenue sources such as giving away free content to increase readership and generate advertising revenue.
3. Entertainment Industry - Controversial marketing tactics, such as the ones used by Prince to generate publicity, could be adopted in the entertainment industry to increase revenue and boost brand visibility.