In the streaming world, what’s she truly selling?
In Madonna’s collaborative single “Bring Your Love” with music superstar Sabrina Carpinter, she starts off with a question whispered over house music.
Ask yourself this.
What are you doing it for?
Is it for you?
Is it for them?
The lyrics have been widely interpreted as speaking to the battle between creating art and following the pressures of social media. But in the end, Madonna and all artists are selling us something. Is it the music or something more complex?
The Distribution Approach to Marketing Exchange developed by Brand Strategist Anthony Miyazaki gives us context to understand the value proposition of marketing and the two-way exchange between buyer and seller. The music industry is a clear example.
Flow of Information: Any artist who stands up on a stage will tell you that they are fueled by the response of the audience. While they are delivering their song or product, they are simultaneously collecting information, whether it is applause or silence. They adjust in their performance accordingly. On the flipside of the equation, the music lover will tell you that they feel emotion and connection through the musician’s art.
The same holds true in the commercial marketing context in which the two-way relationship is every easier to build and maintain on digital platforms. Today, record labels and artists like Madonna can look at hard metrics for impressions and measure engagement on social media. Audiences can connect directly with artists via social media and follow practically every move, informing them about almost every aspect.
Flow of Innovation: Madonna was the the face of innovation in the MTV era, revolutionizing music video storytelling. Today, she and other artists continue to innovate as they compete in a highly saturated attention market. For her latest Confessions release, she did that through such activations as a lived streamed concert on a dating app and innovating a music film ripe for clipping on social media. These new products drive connection and loyalty with audiences.
Flow of Compensation: Ultimately, streaming revenue accounts for a very small amount of revenue in the music industry so artists have successfully found a new business model in which the music is serves more of a promotional tool while revenue is driven by merchandising and concerts.
In the end, the relationship between buyer and seller in the music industry is an emotional connection.