Music videos are important and very crucial to the success of an artist’s brand. It is for this reason that most artists go out of their way to create absolutely great video content.
One of the many questions that I run into from the newbie musicians is:
“Are music videos profitable?”
Music videos can be certainly profitable especially when they are used as a means of promotion. The logic behind music videos is to provide a performance for a record as well as provide some context around the song with visuals. When done right, this could lead to album sales, ticket sales, merchandise sales etc.
Most commercially successful artists make music videos strategically as a means to promote the song which can in turn translate into profit.
This post will take you through the various ways in which music videos can be profitable for musicians.
One of the reasons why musicians do music videos is to promote certain songs. These songs are usually fan favourites or the hit songs on a project.
A music video can serve as an extra boost to the promotion of a record which would greatly influence listeners and give a record more buzz.
This can be great as far as profitability goes because you can monetize more digital sales for your record aswell as hone in on some streams that could reflect back well financially.
With this in mind, we can obviously understand how artists can be able to leverage the power of music videos to push a song harder. With platforms like YouTube, you’re almost guaranteed an audience the moment you post your music video. Which is great because you can pull in some new fans, advertise your record, make a song go viral etc.
This is the very first reason lets get into reason number 2 of how music videos could be profitable moves.
Brand deals and partnerships are something that is not new to the music industry. It has been in existence for a long time and is only getting better now that we have the internet as a weapon in our arsenal.
In this regard, musicians and artists utilize music videos as a way to promote brand and products alike.
Musicians will usually get into brand partnerships with companies, that basically want them to promote a specific product on their platform. These brand deals are usually given to artists with a huge following and possess a brand that is widely recognized.
Music videos are one of the ways in which musicians are able to showcase these products as well promote them. Sometimes musicians will usually have lyrics of the product in songs in order to make the promotion via music video easier.
This is one of the ways that music videos can be used for a profitable cause.
Music albums sell a bit differently now compared to the older days when the internet wasn’t around or not that much of a factor.
With improved ways to sell albums via the internet, we have seen a sudden shift in the way things are done.
Music videos are a great tool that can be heavily utilized to push and promote an album. The music video can serve as a teaser which will entice the audience in to want to listen to the full length project.
This is definitely an effective marketing method and is one that is used by most commercially successful artists signed to record labels.
Record labels heavily rely on monetization of the artist work because they have to recoup their investment and make a profit. Therefore, musical album promotion via music video is always on the table because it make things easier and guarantee some sort of conversion.
Another importance that music videos serve is the means for artist promotion.
As a musician it is difficult to amass a following without people actually knowing who you are or what you like. People always want to connect with artists, and they certainly won’t do it with a voice on a song.
With music videos, you can easily promote yourself while you promote your music as well. This is a great way to engage your followers and put a face to your name and the voice on the records.
Music videos are also a way for artists to also endorse other artists that they are associated with.
The long term goal with using music videos as a way to promote artists is to build a fanbase and create buzz.
After this is done, the audience can now be easily monetized and the profitability of the music video would then come to light.
Music videos are definitely profitable and can help you build a fanbase as well as bring in some album sales. Furthermore, music videos can be used to promote products and services which can build awareness which could then translate into sales.
It is essential that you plan out your music video, from top to bottom.
Know what your goal is..
Once you have a marketing angle, you can then tailor your music video to fit that specific marketing angle, be it promotion, album sales, brand awareness etc.
Don’t make the mistake of simply putting out video content without an apparent goal.
Music is a business and you should ensure that your decisions positively influence and impact your business.