A recent piece by Stephen Marcone in the Berklee Music Business Journal makes it clearer than ever as record sales diminish, the increasing importance in creating a new music business model – both for artists and record companies.

From Marcone’s article:

One of the most popular models was explained by Tom Silverman, CEO of Tommy Boy Records, at the New Music Seminar in the summer of 2009.

For Silverman, becoming successful was no longer about selling recordings: the new business model was about converting potential fans to passive fans and then to active fans, hoping some of them would become fanatic fans; as the fans moved up this sequence, the number of fans decreased but the amount of money spent by each fan increased.

Click here to read the full article “The Poverty of Artist Royalties” 

Four years later and the model proposed by Tom Silverman at the 2009 New Music Seminar is still making news as the future of music business!

Don’t miss the chance to join Tom Silverman alongside other visionaries to shape today and tomorrow’s industry at the New Music Seminar this June – click to start your registration now.

Flashback: Tom Silverman at the 2009 NMS