NMS: Day 2

Today was the first full day of the New Music Seminar with participants convening at Webster Hall for a discussion of the state of the music industry. One point raised during the seminar that stuck in my mind was the idea that music has a 10/90 rule: 10% of your fans will give you 90% of your money. Artists need to focus on cultivating a strong base of devoted fans through engagement because having a few passionate fans is more important than having swarms of casual observers. Obviously, before you can engage fans they need to be aware of your existence, which is where having a tool to reach large numbers of people becomes important. Just some food for thought.