I just read a very smart analysis about how to be successful in the music business. It was written by Terry McBride and Brent Muhle. It’s called Meet The Millenials: Fans, Brands and Cultural Communities.
Terry is one smart cookie. He understands the music business and he understands digital media. His company, Nettwerk, has sold 150 million albums during a time when the industry was crying the blues about lost sales.
One of his artists, Avril Lavinge, has a video on YouTube that has been seen over 90 million times (the report even provides a case study about how they did it).
To me, the most important part of this report on Fans, Brands and Cultural Communities is the insight about the need to experiment and tinker if you want your entertainment business to succeed online.