Marketing Strategy in the Music Industry

Pink Floyd have sold 220 million albums.
Led Zeppelin have sold 200 million albums.
Queen have sold 190 million albums.
The music industry is doing well but record companies are in trouble.


All the major record companies - EMI, Warner, Sony, Vivendi-Universal - have failed in the transitions between music formats. They also failed in using their artists at their disposal.


Another mistake they made was that they priced CD's too high at the start and still are. they put CD's on sale at $15-20, with limited sales, instead of selling them for $4-5 with massive sales.
Another mistake was to push for CD's full with 12-15 songs, of which only 3 songs were good songs and the rest was just rubbish to fill the CD.


iTunes eliminates these problems by offering them at reasonable prices.


Music companies also tried to sell their bands albums like mayonnaise, and not like art.