In the 1980’s, Music Videos generated interest and helped to drive album sales; which made money for the artistes and their management. The album Thriller sold 26 million copies and made a lot of money for everyone connected with the industry but the bestselling album in 2011 sold 2.5 million copies which goes to show that times have changed.
Music videos on their own generally don’t make any money but, they serve as marketing tools to promote records and keep artists relevant and with some creative thinking, artistes and their management can exploit channels like product placements, Youtube ads and other platforms to generate revenue, from their music videos.
The artist/label can have brand sponsors in the video based on their own arrangement and this can help to generate leads and sales to the sponsoring brand.
When considering the revenue generated from platforms like youtube, what you make is probably based on the amount of hits, the likelihood the watcher clicks the ad, and then the likelihood the watcher buys the product, and based on our research, this amounts to a fraction of a cent or a couple of cents per watch. So you must be making millions or even hundreds of millions of hits for this revenue stream to amount to something tangible over time.
in all, artistes should not be scared to monetize their videos as long as it doesn’t seem too commercial and as long as it relates your message and keeps the audience entertained.
Contact us for your music videos and we can help you brainstorm on more ways to monetize your music.