Nettwerk chief Terry McBride gave his words of wisdom to aspiring London based singer songwriter James Yuill at that previously reported MusicTank 'Meet The Millennials' event last week. The event followed the publication of McBride's 'Meet The Millennials' report by MusicTank earlier this year, and saw the Nettwerk man and other industry experts put his philosophies regarding music marketing to the test in the context of a new artist - Yuill.
We'll have a report, including some of the words of wisdom that came up while planning Yuill's music career later in the week. In the meantime, one interesting McBride quote that came out of the day-long conference, as reported by Paidcontent.org. Talking about the importance of digital for his artists, like Avril Lavigne, he said record companies, while making some positive moves in the digital domain, still had a lot of work to do. For example on price point - he thinks the price for downloads should be 25 cents per track and two dollars an album, so to better compete with free. He told the conference: "You'd see a huge shift; we haven't even given kids the choice to show us this tipping point yet ... the profit margin in the digital space is about 300 percent that inside the physical space".