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For Consumer Product Strategy Professionals
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February 23, 2010 Music Strategy For Brands: When Brands And Bands Collideby Mark Mulligan with Sonal Gandhi, Laura Wiramihardja |
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Executive Summary
As the effects of the music industry meltdown bite, record labels and artists alike are turning to brands and product companies for new revenue opportunities. 2009 saw music tapped more heavily than ever before as a tool for differentiating products and brands, and this trend will accelerate in 2010: 65% of brands and product companies that Forrester interviewed stated that they will spend more on their digital music strategies in 2010 than they did in 2009. But marketing professionals must subjugate their job titles in favor of their role as media product professionals when working on music strategy. Failure to do so will result in poor execution that will damage the profile and perception of both the artist and the brand.
Keywords
- music industry
- branded music industry
- music marketing
- digital music
- brands
- music downloads
- media meltdown
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