Can “Freemium” work for the music biz.?
The concept of Freemium has always intrigued me…. but I wonder if there’s a valid business model in there? Can we give away music for free and find other higher valued services to charge consumers for? e.g. Charge consumers for special limited addition DVDs, merchandise, the ability to interact directly with their favourite musicians etc.
We already see this model manifest itself in the form of the present day music consumer who would download a song through torrents and then spend a considerable amount of money in attending live shows, buying merchandise etc. Under this model its the music marketers that are getting left out! So, if record labels could find a way to sell certain premium services beyond just the music (and hence give away music for free), we might actually have a solution on our hands. I’d like to see what you have to say about FREEMIUM on our discussion board.