Thursday, January 19, 2012

SOPA and How the entertainment industry can profit from Piracy

So this new bill called SOPA (Stop Online Piracy Act) was a poor attempt to try to govern the internet. Now don't get me wrong i think Piracy is totally not cool, people work hard to bring you that entertainment. Does that stop me from doing it? Not so much. The simple fact is, it happens. I don't think all these people downloading songs, movies, tv shows and other entertainment are intentionally thinking I am going to steal from all this stuff. Doesn't make it any less wrong but it is how this age is running things. It is the age of free information and the sharing of anything you want. In a time where the internet is constantly asking us "What's on your mind" and "Share this with your friends", it's no wonder all this "piracy" is going on.

Here is my thought on it. It's not going to stop. We are moving forward and even with a Wikipedia black out we are not turning back to traditional ways of sharing information. We are an age of getting it right now. If you have so many people that pirate your property why not capitalize on that? I mean come on! We are Americans, the innovative thinkers of not doing things the same way. I am shocked that the entertainment industry is stuck so far in the past. Clearly the old way of selling vinyl records is not how this age is doing it. We are sharing it with all our friends. Peer to Peer. Record labels should love that their music is being shared and downloaded so much. The reason they aren't is because they don't see a dime from those downloads. Why not corner that market? There is money to be made here. Simply stopping access to certain websites is not going to even put a dent in illegal downloads. The nerds will find a way around it. Don't stop what is going on. There is a lot of good that can come from it.

I get it, it's copy right infringement, it's illegal, you shouldn't do it. The point is though that it is happening, no matter how many lawsuits you have. Down goes limewire but up comes frostwire. How can you capitalize on it? Give it away for free! Wait. What was that? Give it away for free? How does that solve anything? People can't steal or "pirate" what you have already given to them. I know what you're thinking, "There is no money in free!" That is where you are wrong. What are some of the biggest and best online companies? Facebook, YouTube, Google, Wikipedia, and tons more. What do they have in common? They are all free to their consumers! Why would you not follow the greatest examples of business? There is money there and tons of it. Can we get some free music and knock off this whole lawyer and gavel nonsense. Stop fighting your consumers. Market to them! They already love your product and are getting a hold of it without your knowledge. Give it to them and know where your hard work is going.

Now I couldn't offer a crazy idea like Free Entertainment without giving a viable solution for making money. Here is how you monetize this. I am going to provide a scenario, think outside the box here. You are the largest Record label with the top artist and you are making tons of money. Problem is there is millions of people that are just taking your hard work and enjoying it without paying you anything. That's not right. You should shut down all those millions of people from ever getting access to your products, right? Wrong. You should monetize those individuals and turn nothing into something. How? Give them what they want. Free music. Doesn't sound like it solved your issue does it? Wait for it. Launch a website that gives away your artist's music. Instantly have the top website in the world! It would cost major bank to get an ad up there and companies would kill for a spot on a page like that. Instant cash there and now you are getting paid for those free loaders. Don't stop there though. What's hot right now? Social networks! Produce a music network where everyone is sharing their favorite music and getting it for free. You have to have an account of course and with that account comes more marketing. Not only will you be able to build a profile of what's hot and what's not but you've now got a network of what's trending and what's being talked about. That's marketing gold!

There is more to this. You want to track your songs and where they are going. You want to know where that download goes once it leaves your page. Track devices that have to music installed on it and market to that. Track how much it is listened to and market that. It's easy! Simple code put into each song can organize all this data into simple marketing techniques. You would own the entertainment industry. Stop fighting your consumers and start giving them what they want. That will solve your Piracy problem.

It's that simple. No need to pass a bill. Just start making money. This is America, the birth place of the next best idea. So give up the fancy ties and suits and start owning the oil fields that have been untapped, "Pirates"!