Techdirt Experiments With A Formula That Could Save The Music Industry
CwF + RtB = $$$
Connect with Fans (CwF) and give them a Reason to Buy (RtB)
Other artists have since applied similar strategies to sell to their fans and Masnick realized that he was on to something. "That simple formula has resonated incredibly well, to the point that I'm receiving emails daily about it specifically — and not just in the music industry, but many other industries, asking how they can apply it themselves," says Masnick. "After doing all those presentations…
some of us here at Floor64/Techdirt got to talking about ways that they could be applied to other industries — and one thing led to another where we began to wonder why we didn't test them out ourselves. So, we looked at the various models and thought about what could we do along those lines.."
"I certainly love the "tiered" models, where there are numerous options of increasing value that people can buy into," continued Masnick, "and we figured, why not test that out ourselves?"
Check out Techdirt's own experiment with CwF + RtB here.