Learn from: The Kaiser Chiefs
As an industry which is seeing declining revenues and has major IP and piracy issues, the music industry is having to become more enterprising in its efforts to persuade fans to part with cash rather than downloading their favourite music for free from the internet.
Earlier this year the Kaiser Chiefs came up with an innovative plan to encourage potential customers to take a legitimate route to obtaining their music – driving the Kaiser Chief’s revenues in the process.
They released their new album via their website - but let fans put their own album together by paying £7.50 to choose ten songs from 20 sample tracks and then pick their own artwork. Other people could then choose to download the configuration those customers had created - and every time they did, the fan responsible got £1 back.
That meant music lovers were encouraged to buy the music legitimately because it meant they would also be given the chance to make money themselves.