A new digital business model that works

 

 

 

 

 

 

 

 

 
 
We all just love to be helpful and share. In social media today people are sharing everything and feel great about it. We tend to share knowledge, ideas and emotional experiences.  I found something very interesting that’s going on in Norway these days. I got to know this, by “accident”, some weeks ago, and I’ve thought about it, looked at it and wondered if this is just another idea, or if it is an idea that could move business models in the digital area one step further. And I think it might!

It’s called musicnodes.com . Still in an early stage of developement and it looks very promising. To get to the point of what this is: It’s a embedded player, where you can listen to a tune. There’s nothing new in that.
You can buy the tune as well and you can share the tune with your friends and network, nothing new in that either. 
The new is that the content is placed contextual. Another aspect is that it’s not a website, where you go to and find your music and then buy what you want. 
Musicnodes is a play bar that can be located on any website with relevant content. Since this is music, the daily news article, about music is a great place, the online music sites is also a great place to share music. The spread happens when people start sharing the play bar in their respective networks.(e mail, Twitter, Facebook and so on)

Business model
The business model is very interesting. As we know; creators of content holds copyrights. As far as I know all countries have organizations that take care of the business aspect of using someone’s music. Radio/TV, film and others are using music produced by others and have to pay for the usage. On the internet this is also the case, but has become very difficult to manage, since people love to share.  This have created a problem for musicians, for record companies and so on.  Revenues are dropping dramatically in the business as a consequence. 
Musicnodes have set up a model where the musician gets a large part of the revenue created. The publisher also gets a large part. The least part of the income goes to musicnodes. Furthermore when people listen to the tune, and want to share it, the embedded tune is sent by e.g. e-mail, “share on Facebook” and so on – the revenues split follow the tune and the all involved continue to earn on the sale of this tune, each time!
Online publishers will just love this model, and so will the musicians, and other copyright holders. This might provide the music business with a sustainable business model that take care of all involved parties in a manner no one have done up till now.

Contextual advertisement
When is it most likely that you will be the most interested in listening to a tune? Isn’t that when you are in the mindset, like when you’re  reading an editorial story about the genre, the artist or a news article about the music you love? And then, there it is.
For the publisher, it’s not even an advert, it’s just added value for the reader. The best part is that the publishers earn money sharing this added value. For the reader it’s not a “banner ad up in the face”, it’s a neat way to get the tune there and then, no hassle finding a music store (down town, or online), searching for the right tune. It’s right there, easy accessible.
The motivation for the reader, to convert into a buyer is very high, just in that moment. This is in fact a real and functioning example of the semantic web, and behavioral advertisement!  A very strong concept indeed. I’ve written about this in a former posting; HERE.

Network sharing
We are social, this idea appeals to our pattern of behavior. To give someone something makes us feel well and sharing makes us connected with others. Creating a business that “run” by the natural rules of human behavior is very likely to be a strong business model. I believe that this is the case with musicnodes.com .
It’s the same principles that’s behind “six degrees of separation”, viral marketing and whom we trust the most. Social media and networking arenas has grown immensely the last few years and there is no doubt that conducting business are about to get new rules to play by.
I’m looking very much forward to see what happens next, and in which ways this innovative concept will spread. The concept, is as lot’s of you already have started thinking is that it’s not limited to music. There is a whole range of products and services where this will apply.

While waiting for the script (to embedd on my blog) to be approved by www.wordpress.com you may have a look at the new concept HERE 
The tune is by Ingrid Olava, won’t be silenced – catchy title?

Update: I did some statistics: in one hour I had 51 unique visitors on my page. That created 90 Clicks on the node, and 62 that downloaded the tune for free (payed by sponsor) Ingrid Olava earned cash on this, and so did I. Amazing, the network sharing effect really works. Remember this test is with no player (just a primitive link) and I’m not running a music blog, nor is the content relevant for the player/tune

41 Responses to “A new digital business model that works”

  1. Geir –

    Thanks for sharing these concepts, and the application of the concepts in musicnodes.com.

    To me, the exciting features are the possibility of having an “action widget” flow throughout networks, with all parties adding value receiving value on the transaction.

    I also see many other applications of these concepts.

    Exciting times!

    And, I got to listen to Ingrid Olava.

    Thanks,
    Chuck

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