Many consumers of social media want a better connection with the creators of content they enjoy, and those fans are ready to pay a premium for it. This is a lot to ask for a new artist, but you will have hungry fans willing to pay. The question is whether this is necessary if you’re new. Why is this so overwhelming as more new tech comes at us? To overcome this, you just need to pace it out and watch the money roll in.
What is Social Media 2.0?
Social Media 2.0 goes beyond the standard platforms like Instagram, TikTok, and YouTube (akin to ABC, NBC, CBS) to more premium experiences similar to HBO, Showtime, and Cinemax. This means offering ads, better value, and improved communication. As many of these new user-run networks come online, fans will only join those of the creators they truly love. This shift allows artists to offer everything they wanted to due to cost restrictions and charge a premium to make it worthwhile for both parties.
What is an Artist-to-Fan Community?
An artist-to-fan community is akin to OnlyFans or Patreon but includes a space for followers to communicate among themselves on the platform (like Discord). It costs a monthly fee, and the contents inside can be upcharged again. Fans sample your work through social media, and you let them know there is a premium option where they can get exclusive content and connect with you and other fans. It’s like an online club that’s always poppin’. If your community is engaging and people enjoy themselves, they’ll stick around for a while. However, this community must be maintained.
Inconsistent Artists Will Not Survive This Model
If you’re inconsistent in delivering value to your fans or don’t know how to communicate with them, this model will not work. Communities must be maintained, and you must care for your subscribers. If you don’t offer them things to do, watch, or look forward to, they will not continue to pay and stay a member of the community.
Superfans Need a Place to Congregate
Because superfans need a place to congregate, build it for them. This is a place where trolls can be controlled when priced right. If you already know what they like from you in a sample-based social media form, develop something they would love in a premium package. Superfans have money to spend but don’t pressure them to overpay.
Some Fans Want the Whole Meal
Physical meet-and-greets are the final stop for a superfan. They will pay a premium to see you in an intimate setting that is not a concert. Live shows aren’t the end-all-be-all of meeting and seeing fans in person. This physical meetup can be a special part of the premium community and only available to those who are part of it. The revenue potential is endless.
What Community Networks Are Available Right Now?
There aren’t many community platforms, but they are starting to roll out. Even.biz has group chats for your fans after they pay for access to products. Grouped, Mighty Networks, Circle, and Uscreen are also available for content-based folks. These networks are for premium subscribers who want a more immersive experience in the world of the artist without getting lost in the social media crowd.
Will Premium Networks Turn into Major Aggregate Channels?
This is the testing ground period to see how fans like to communicate with other fans and their artist of choice within a controlled community. Eventually, we might see the rollout of community networks costing an all-in subscription fee.
How Much Money Can We Make?
Because your cost of entry is monthly, depending on where you set your price, this can self-fund your music career once you get to a certain level of notoriety. It doesn’t take much to start making 8-12x your current revenue, depending on how much you plan to deliver.
Check This Out!
If you're a music creative or executive looking to build your label or publishing company in 60 days or less, grab the 60-Day Record Label Course and get it done today! You’ll gain the ability to get real funding, avoid contractual pitfalls, and keep the middleman out of your pockets. Click the link below to get started now! If you’re skeptical, grab the free guide, "10 Ways to Increase Your Record Label Profits," which comes with a free split sheet download.
If You Decide to Build a Community
It will not be easy; you’ll have to maintain standard networks as well as premium networks. But at the end of the day, your fans will be more connected, more responsive, and your income will have a bit more consistency as an artist.
If You Do Not Decide to Build One
It’s not the end of the world. Maintaining one social media platform is difficult in and of itself. However, this is the wave, and as soon as the wave rises, it will be harder to get people to pay for your community after they begin paying for many others.
Conclusion
If you were struggling with finding a way to bring in consistent income, this is another way to do that with skills you already have. Building and maintaining an artist-to-fan community can provide a steady revenue stream and deepen your connection with your most dedicated fans.
Comments