Says that record label marketing dollars vanish with declining sales, but that even pirates end up at a concert, buy t-shirts, and even albums.
Hip hop megastar 50 Cent appeared on the Consumer News and Business Channel (CNBC) recently to promote his new book “The 50th Law,” and during the interview he made some interesting points about P2P and what it means for music artists like himself.
When asked how performers are to make money in the music business these days he points out that even though things have changed considerably it is still possible.
“The technology is absolutely shifting things, and uh the marketing dollars that the major companies were providing for artists in the past is gone with the actual record labels.”
So when it comes to illegal file-sharing 50 Cent believes that it’s simply a “part of the marketing” necessary to make up for what the record labels are no longer able to afford.
For new and emerging artists trying to get people to show up at their concerts and spread the word about their music P2P is absolutely essential. The world is literally at your fingertips and it won’t cost you a dime in marketing dollars.
With studies concluding that P2P actually increases music consumption file-sharing may be an even far better form of marketing for the music industry as a whole than even 50 Cent realizes
Even pirates “end up at the concerts,” he continues, “because they can’t help but fall in love with the material at that point whether they consumed it from downloading it on the actual Internet or they went and purchased the material.”
You obviously can’t pirate the live concert experience, the roar of the crowd, the sights and sounds, so it will always be a stable source of income for music artists.