Via HypeBot: a free 96-page book in PDF form, “20 Things You Must Know About Music Online.” This seems to be targeted at musicians trying to figure out how to use the Internet as a distribution mechanism for their art, but many of the concepts could apply to anyone trying to market anything using the latest Web 2.0 fads. Pretty interesting read.
The most interesting piece to me is “The Death of Scarcity.” This is a concept that the conventional music industry definitely doesn’t get:
There may have been a time where you would press a thousand copies of a CD, give away a couple of hundred as promos, and try and sell the other eight hundred. Now, you can press a thousand, give away a million, and still sell the thousand.
The death of scarcity makes a nonsense of the notion of the ‘lost sale’. If someone would never have bought your music in the first place, but acquires the music through some other means (perhaps as a recipient of one of those million promotional copies), you haven’t “lost a sale”, you’ve gained a listener.
More importantly, you’ve gained attention (remember that word — it becomes important).