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Nicholas Lovell - How To Turn Your Freeloaders Into Superfans (Darker Music Talks March '14)

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Published on March 5, 2014

Author: tommydarker

Source: slideshare.net

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Video: soon on http://www.tommydarker.com/music-talks/archive/
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Freeloaders, superfans and the future of business culture Nicholas Lovell @nicholaslovell #DarkerMusicTalks

How do we make money when everything is going free?

• “You can’t make money from apps” • “We’ve got to make people start valuing content again” • “I deserve to be paid for my work”

You need to earn the right

Free does not mean no revenues

Flip your thinking

Amount each person is willing to pay Revenue opportunity Marketing opportunity

The Curve

The Curve – in 3 steps • Find an audience • Use technology to figure out what they value and to talk to them again • Enable superfans

Freeloaders

Source of revenue

Word of mouth

Potential converts

Gawkers

Technology • Understand what your audience values • Earn the right to talk to them again

Superfans

Let those who love what you do spend lots of money on things they truly value

Let those who love what you do spend lots of money on things they truly value

Let those who love what you do spend lots of money on things they truly value

Let those who love what you do spend lots of money on things they truly value

Target: $400,000 Average pledge: $38.28

An unsurprising distribution Number of pledges 60,000 50,000 47,946 40,000 30,000 24,636 20,000 11,530 10,000 1,090 900 148 100 10 4 $250 $500 $1,000 $5,000 $10,000 0 $15 $30 $60 $100 Number of pledges

A very surprising distribution Double Fine Project revenue $1,400,000 1,153,000 $1,200,000 $1,000,000 $800,000 739,080 719,190 $600,000 $400,000 100,000 50,000 74,000 40,000 225,000 $200,000 65,400 $0 $15 $30 $60 $100 $250 Double Fine Project revenue $500 $1,000 $5,000 $10,000

A very surprising distribution • Total raised: $3,336,371 Pledges Money >=$1,000 0.1% 6.0% >=$250 1.3% 15.4% >=$100 14.7% 51.9%

The Curve for music

What are you going to give away for free?

How are you going to earn the right to talk to them again?

What are you going to sell for 10x, 100x, 1,000x the previous “average” price?

Love your freeloaders Love your superfans Love everyone inbetween

Thank you @nicholaslovell www.nicholaslovell.com

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