(Updated) Are increased merchandise sales helping to offset lower revenue from recorded music sales? Or is that just another bit of new music industry wishful thinking? Just 34% of those that took Hypebot's recent poll thought merchandise was helping all that much. But the poll, while not a scientific survey, did offer insights and a bit of hope for musicians and labels working to develop new income streams. Of the respondents, 34% described themselves as musicians and 22% each said they were labels and managers. Another 22% dubbed themselves “other." The results:
When asked: “How do current merchandise sales compare to sales prior to the recession?" 42.3% said that sales were “about the same"—not bad in a struggling economy. 28.8% said that their sales are up though an equal number reported down sales. Individual results could also be caused by release and touring cycles, as well as, a rise or fall in fan interest for a particular artist.
When asked the size of the average total purchase, 56.3% said $15—$25. 33% reported average total purchases of less than $15 and 10.4% have average sales over $25. These numbers would seem to reinforce other findings that show the importance of offering a variety of price points.
Asked next, “How much of your merchandise sales happens online rather than at gigs?", a surprising 27.3% reported that more than 50% of their sales are made online. 20.5% reported 25-50% and 31.8% reported online sales accounted for 10-25% of their total merchandise sales. 20.5% of musicians clearly need to work on their online presence reporting under 10% of merch revenue came via the net.
Take the survey. And how are you using merchandise sales to increase revenue?
When asked: “How do current merchandise sales compare to sales prior to the recession?" 42.3% said that sales were “about the same"—not bad in a struggling economy. 28.8% said that their sales are up though an equal number reported down sales. Individual results could also be caused by release and touring cycles, as well as, a rise or fall in fan interest for a particular artist.
When asked the size of the average total purchase, 56.3% said $15—$25. 33% reported average total purchases of less than $15 and 10.4% have average sales over $25. These numbers would seem to reinforce other findings that show the importance of offering a variety of price points.
Asked next, “How much of your merchandise sales happens online rather than at gigs?", a surprising 27.3% reported that more than 50% of their sales are made online. 20.5% reported 25-50% and 31.8% reported online sales accounted for 10-25% of their total merchandise sales. 20.5% of musicians clearly need to work on their online presence reporting under 10% of merch revenue came via the net.
Take the survey. And how are you using merchandise sales to increase revenue?
