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Okay, Bela Fleck making the front page of US Today would have gotten a writeup from me in any case. That it's about his business model only serves to make it easier.
A look at banjo master Fleck and how he runs his business in the digital age shows how drastically the industry has changed. A new CD release gets attention, but with many young customers bypassing CD purchases for free pirated songs on the Internet, touring pays the bills. Fleck says concerts reflect 70% of the band's income, records 20% and merchandising 10%.
Fleck will realize 40% of his yearly touring income crisscrossing the country to perform with his jazz/bluegrass/world music band at amphitheaters, auditoriums, amusement parks — even a farmer's market in Kansas City. In summer, audiences swell from 1,000 to 2,000 people nightly to anywhere from 4,000 to 20,000. The Deer Valley show sold out, at 4,000 tickets.
Totally worth your time to read.
Thanks to Rob for the tip.
Posted by Casper at August 7, 2004 01:38 AM