Originally posted by iTim:People still buy albums?
Originally posted by iTim:People still buy albums?
Originally posted by ahn1991:[..]
Album sales and other merchandise are how artists make money. Tours, believe it or not, are not at all profitable.
Originally posted by iTim:People still buy albums?
Originally posted by BonoVox05:[..]
You can't be serious.
Originally posted by ahn1991:[..]
I'm dead serious.
At least as of 2013. I did extensive research for a speech regarding the RIAA's anit-piracy laws and how artists are adapting to the rapid availability of music online. I used U2 as the model of the direction artists must take if they wish to survive in the new industry. U2 makes the majority of their profits from touring. I talked about the ways U2 has made sure 360 was profitable, mainly focusing on the Claw's design which maximized available GA space and lower tiered pricing to ensure shows would be sold out. U2 is an exception, not the rule. Most artists make much more money through album sales (physical and digital). Taylor Swift was my prime example of that model because her tour profits were negligible compared to her album sales.
I also talked about profits from radio playtime and potentially though streaming sites such as Spotify, which was still new back then while Pandora was the predominant streaming service. Another strategy artists employ is to crank out material constantly. Most hip hop/pop artists will do this. With U2 we're used to seeing one album every 5-6 years, but most artists will be constantly pumping out material. They may not always be full albums, but they will pump out singles, EPs, etc. They may have enough material to release a full LP, but in the interest of marketing it makes more financial sense to split that album and market it as several EPs, then re-issue it as a full album.
Another thing to think about is that touring has HUGE start-up costs. Venues and crews must be booked well in advanced. Plus, there is stage design and construction that can take countless man-hours. All of this is done at the risk of not knowing if people will actually show up to your show. One way to offset this is to perform a festival tour. Festival tours are nice because all of the muscle work is already done and all the artist has to do is show up.
Originally posted by BonoVox05:[..]
You must be drunk! Please, just be drunk!
Originally posted by BonoVox05:[..]
You must be drunk! Please, just be drunk!