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Today is Tuesday, May 22nd, 2012
Since completing his earlier major record label contract, musician Trent Reznor has been experimenting with a variety of new and unique business models for his band, Nine Inch Nails, to reach and connect with fans. This case study explores Reznor’s experiments, examining what has worked and what has not – and why. Speaker: Michael Masnick (Editor/President & CEO, Techdirt Blog/Floor64)
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Comment by tuncvidinli on 31 December 2010:
NIN is a globally well known group. Unless you shut your company, with such reputation, you will keep on selling as long as produce and be on the eye sight. Does anybody have any idea how to be a NIN from scratch with only a home studio and few bottles of beer? That would be a real case study. That’s my opinion and any thoughts are welcome.
Comment by SheliaVanessae on 31 December 2010:
There is Trying to Asian brides “busizz4me.info”
Comment by KurtCobainof21 on 31 December 2010:
@terriblyill Your contradicting yourself a bit.
I dont think there is a “lets breakdown this business model here” i think simply put reznor’s model worked because he had fans willing to make it work.
I think its naive to expect Trent doesnt have a model. He does wanna make money. He’s not a charity. The only difference is he wont compromise on his music just to sell more records.
I saw Trents interview in some Internet business awards in which he accepted saying of course I wanna make money
Comment by J0NNO on 31 December 2010:
@PaintboarderLIVE
why?
Comment by Seagerash on 31 December 2010:
reznor is generous, intelligent and a pioneer. You don’t have to be a fan of nine inch nails to see that
Comment by PaintboarderLIVE on 31 December 2010:
this guys an idiot.
Comment by floyded2 on 31 December 2010:
@RigoKellerColas radiohead offered you to “pay what you want” for a limited time. then the price went normal.
Trent was the first to still give them out for free.
Comment by rageneox on 31 December 2010:
That’s true but Radiohead’s intention was only to see how the public would react to it. It wasn’t even offered in a bitrate higher than 192kbps and ultimately, the campaign was ended and people had to pay from then on.
Reznor had a much more focused goal of using this technique to succeed where many big record labels are now failing: giving the consumers a legitimate reason to purchase music. His vision and execution was far more surgical and effective than Radiohead’s.
Anyway, trolling fail.
Comment by RigoKellerColas on 31 December 2010:
Radiohead did it first!
Comment by terriblyill on 31 December 2010:
What if reznor just thought hed give back to his fan base community by giving the slip away for free and putting on a concert so insane that it cost more to produce than the revenue it gained?
Maybe he connects with his fans because he actually likes his fans?
I dont think there is a “lets breakdown this business model here” i think simply put reznor’s model worked because he had fans willing to make it work.
Comment by Commanderloochy on 31 December 2010:
@Stefmanovic
Yea Reznor is a little unique because he started off like most other people gaining fans with a traditional record label and did what most other people did at the time. Like you said record companies are loosing money because they aren’t adapting,i don’t think piracy should take all of the blame. But I would argue that you can gain just as many fans with the use of the internet and still make some money, it gives you a lot more exposure. We’re at a transitional time right now.
Comment by Stefmanovic on 31 December 2010:
It is the reason why they are losing money. They are not selling enough because they still use their economic doctrines which are based on pre-internet ideas. Reznor “worked around it” by adapting to the times.
Reznor however acquired those fans through the use of this old business model. New technology can enable things, but not in the same scale as the olden days. At least, not yet…
Comment by Commanderloochy on 31 December 2010:
@Stefmanovic
thats the point, there will always be people like you, i dont mean this in a bad way, who will never pay for their music. but thats ok, the point here is that trent reznor has a found a business model that lets him workaround that, because he can still make money from his loyal/hardcore fans. and thats the point of this presentation, piracy/free music isnt the reason record companies are loosing money
Comment by spidrmage on 31 December 2010:
i am only going by what trent reznor said as far as people paying thousands, you can probably find some interviews if you google them or watch the digg interview. apparently they were all over ebay and craigslist as well
Comment by mschallau on 31 December 2010:
even if that’s true it doesn’t negate the point, in fact it strengthens it. nin is giving their (his?) fans a reason to buy that is so strong theyll pay thousands for it. but i would really like to see your evidence people paid thousands for them
Comment by halonone on 1 January 2011:
Living in America is expensive.
Comment by calibanman on 1 January 2011:
Cool presentation! The constant changing slides keep you concentrated
.
Comment by spidrmage on 1 January 2011:
not true about #2. most people bought that package for that price and sold it for thousands more on ebay. a $300 investment is nothing if you’re going to make tons of money off it. he should’ve called that one “connect with fans to make them rich”.
Comment by StaticPallour on 1 January 2011:
You are so very wrong, on so many levels. Do your research pal.
You guys need to stop messing with NIN fans. We school you every time.
Comment by Stefmanovic on 1 January 2011:
3) Ok…I don’t know that band. But ok, 10 euro ticket, 10 euro cd. How high are their costs? How big is their fanbase? How often do they play? How much music have they brought out? Why should I want to buy it if I could download it for free?
Comment by Stefmanovic on 1 January 2011:
1) I dunno…the tickets arent much more expensive than other tickets for big bands. Besides, Masnick’s story is about the sale of cd’s, not so much the price of concert tickets.
2) There were various options available for the fans, if you simply want the music you could get it for free. However, money needs to be made and people need a reason to buy it, hence the fancy $300 set which was very limited.
Comment by rosemwelch on 1 January 2011:
And Masnick’s Law rears it’s ugly head…
Comment by Majdaily on 1 January 2011:
I’m impressed, it was very interesting to watch.
I am and have been Trent Reznor fan for many years now and he always amazed me. Not only NIN music, which is obviously a defferent galaxy in this point, but also he’s attitude in business. He’s brave, he’s real, his music is real, I believe that.
Comment by BeanieBasstard on 1 January 2011:
You’ve missed the entire point by miles.
Comment by redwolf2222 on 1 January 2011:
1. A good show ist worse the costs
2. No, the album costs 7$. The premium pack costs 300$
3. I take a look