Record executives have been struggling for years to retain customers, because fewer and fewer buyers will pay full price for music they can get from streaming services or illegal downloads. Last week, though, Beyonce showed how musicians — at least those with a rabid fan base — can address that problem.
Most major album releases are preceded by elaborate marketing campaigns that go on for weeks, during which eager fans can download tracks that leak to the Internet before the release date. In contrast, Beyonce never let it slip that her new self-titled album was even on the way. She released it with little fanfare early Friday exclusively on iTunes (physical copies will hit stores next week), and within two days had sold over 500,000 copies. Moreover, the album retails at $15.99, well above the cost of many albums on the site, and fans can’t download individual songs. In return, buyers get a set of exclusive music videos paired with each track on the album.
The outcome was noteworthy: As fans gushed over Beyonce’s new songs and videos on social media, actually paying for the album was the easiest way to get access. It’s unclear whether less popular artists can pull off what Beyonce did, and a backlash by traditional retailers like Target upset by her digital-only format might dig into her sales. Still, “Beyonce” proves that consumers are willing to spend more on music if they are caught off guard and the songs are accompanied by high-caliber videos.