Fighting the "Race to the Bottom"

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  • #9975 Reply
    B Minus
    Guest

    Talking about setting a minimum price and such misses the point of what is happening here:

    Like many things, this is pretty much a free market. You can try to set all the limits you want, but then for example one composer can come along and undercut you by $1 to make themselves more profit.

    Educating composers so that they value their work more highly is beneficial for all of us but any ‘moral’ argument is missing the point.

    To turn this on its head – how would you feel if all car manufacturers clubbed together and said they were setting a minimum price for any car at $100,000?

    #9976 Reply
    Art Munson
    Keymaster

    Does that mean 1000 completely unique tracks, or total number of tracks though duplicated across a number of different libraries?

    I would think unique tracks but it could be different depending on your skill set and “luck of the draw”.

    #9981 Reply
    Mark_Petrie
    Participant

    Does that mean 1000 completely unique tracks, or total number of tracks though duplicated across a number of different libraries?

    I would think unique tracks but it could be different depending on your skill set and “luck of the draw”.

    Another way of looking at that – from my own experience, it took 1000 – 1500 tracks to get good enough to be able to charge more for each track. My music is much more polished now than it was when I started out and as a result I make more with fewer tracks. I don’t have to churn them out like I used to. Spending a lot more time on each track has helped accelerate the increase in production quality.

    It was definitely worthwhile churning out as much music as I could for the first 4 – 5 years after I went full time as a composer. If you do this, not all your music will be great but you’ll learn from your mistakes and as long as you’re constantly challenging yourself, you’ll discover the skills you need to spend more time developing.

    #9982 Reply
    Art Munson
    Keymaster

    My music is much more polished now than it was when I started out…

    Great point Mark and agree. Mine has improved with time, or at least I like to think so!

    #16264 Reply
    Desire_Inspires
    Participant

    It was definitely worthwhile churning out as much music as I could for the first 4 – 5 years after I went full time as a composer. If you do this, not all your music will be great but you’ll learn from your mistakes and as long as you’re constantly challenging yourself, you’ll discover the skills you need to spend more time developing.

    Golden advice!

    #16265 Reply
    Pat
    Guest

    I agree that composes should sell for whatever price they want to sell at.
    But just playing devil’s advocate here,what would happen to the rest of the airline industries profits over time if one airline decided to sell all their seats tickets for $50?

    #16266 Reply
    Art Munson
    Keymaster

    But just playing devil’s advocate here,what would happen to the rest of the airline industries profits over time if one airline decided to sell all their seats tickets for $50?

    They would charge more for baggage! 🙂

    #16268 Reply
    MuscoSound
    Participant

    I’d like to point out that people do not shop solely on price. People shop for value. So take this example for what it is worth. You have two pieces of music both similar. One selling for $25 one priced at $30, or whatever. The lowest priced track does not ensure a sale just cause it is cheaper. If the $30 track has better quality, or it sync’s better with the project it will have a better overall value.

    It’s an old lesson that is chapter one in economics or business class. Value is what people buy, and people look for the best value at the best price. As musicians we can build value into our music and charge more. At the same time there is a market at many levels of the licensing game. Some musicians target one market with a particular “comfort zone” of pricing maybe between $25-100. Some target lower priced projects monetized youtube, webisodes, podcasts, super low budget stuff where music between $5-25 dollars might be more comfortable. Others focus on the high end market where the sky’s the limit.

    It really just depends on what type of projects your targeting with your music, and then pricing based on the the “comfort zone” of that market. If your in a library where it’s between the 25-100 zone, if you build enough value into your music you can be successful with a price somewhere in that zone.

    Think of it kind of like the car market. You have the super high end cars thing Lamborghini, Ferrari, ect. Those cars can go for 6 figures or more. Now why can they charge that because they build value into their product. Those high end cars are not competing with the Chevy and Fords of the world. It’s all about market, and value.

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