June 2, 2010 Jill

What the heck? A business model actually:

Third Man RecordsConnect with Fans (CwF) and give them a Reason to Buy (RtB). CwF+RtB=$$$.

techdirt is trying out with price points ranging from $5 in return for their gratitude and a badge for your profile to $1,000 for which you get to hang out with Mike Masnick and the Techndirt staff for a day, have breakfast and lunch, come to the techdirt offices, get a t-shirt and more. Techdirt goes so far as to consult their community about what promotions to offer as part of the CwF+RtB initiative.

Jack White of the White Stripes has tried the model too. His label, Third Man Records, has an online subscription service called The Vault that gives fans exclusive access to the artists. They get first dibs on tickets, exclusive videos, photos and more.

But Nine Inch Nails and Trent Reznick are really the masters of this technique. Here’s a great video featuring Mike Masnick presenting a case study on Reznick’s business models. Reznick applies this to music, but it can apply to any content.

Michael Masnick The Trent Reznor case study

Comments (3)

  1. This is a really good examination of the CwF + RtB = $$$ model – and I know the Bare Naked Ladies are also being rather effective in their efforts in this regard. As you said, this ‘should’ work with other media outside of music but I’m not really able to come up with any other than The Guild & Dr. Horrible which both benefited from a pre-built avid fan base. Interesting. Hmmm.

    I’m trying to believe.


  2. admin

    Thanks Rob. I fixed the typo. It was late…
    As to rocking that particular business model, I think we could come up with a good idea or two.

Comments are closed.