Monday, January 10, 2011

Free Making Money

As we get ready for John Boehner to take the gavel from Nancy Pelosi on Wednesday, I find myself thinking back to the last time a Republican speaker took control of the House from a Democrat -- and reflecting on how far down the wrong road we have traveled since then.

It was January 1995, and Newt Gingrich, now considered a right-wing bomb thrower, was taking the gavel from Tom Foley. After taking the oath of office, he delivered a speech that praised FDR as "the greatest president of the 20th century" and presented concern for the least among us as a shared national objective. "The balanced budget is the right thing to do," he said. "But it does not in my mind have the moral urgency of coming to grips with what is happening to the poorest Americans."

For the incoming Republican speaker, reducing poverty and lifting the poor into the middle class was a moral imperative beyond the left vs. right battlefield -- not just the purview of lefties, socialists, and community organizers:

I say to those Republicans who believe in total privatization, you cannot believe in the Good Samaritan and explain that as long as business is making money we can walk by a fellow American who is hurt and not do something.... If you cannot afford to leave the public housing project, you are not free. If you do not know how to find a job and do not know how to create a job, you are not free. If you cannot find a place that will educate you, you are not free. If you are afraid to walk to the store because you could get killed, you are not free.

So now, with poverty higher than it was 16 years ago, with greater income inequality, and with the middle class struggling to hold on, what will Speaker Boehner make his number one priority? According to the Washington Post, it's "cutting spending," followed by repealing the healthcare law, and "helping get our economy moving" (no specifics on how he plans to do that).

Yet we saw on 60 Minutes that he's very aware of how fragile the American Dream has become, telling Lesley Stahl, "I can't go to a school anymore. I used to go to a lot of schools. And you see all these little kids running around. Can't talk about it." And he choked up when he did try to talk about "making sure these kids have a shot at the American Dream, like I did. It's important."

Interestingly, in his first speech as speaker, Gingrich also talked about being moved by the woes of school kids.

"I have seldom been more shaken," he said, "than I was after the election when I had breakfast with two members of the Black Caucus. One of them said to me, 'Can you imagine what it is like to visit a first-grade class and realize that every fourth or fifth young boy in that class may be dead or in jail within 15 years? And they are your constituents and you are helpless to change it?' For some reason, I do not know why, maybe because I visit a lot of schools, that got through. I mean, that personalized it. That made it real, not just statistics, but real people."

But the trajectory of our political discourse over the last decade and a half has meant that taking on poverty has gone from a moral imperative and shared national objective to an afterthought -- or no thought at all.

The question is, is there anything that can be done to help Boehner make the connection between the policies he supports and the effect those policies have on the kids who bring him to tears?

Newt Gingrich failed to follow through on the moral imperative he identified in his first speech as speaker, trading in his moral vision and replacing it 15 months later with an announcement that the Republican agenda could be reduced to six words: "Earn more, keep more, do more."

Will Boehner's take be "Earn more, keep more, cut more"? Or is there a chance he will surprise us? Maybe it's because it's close enough to Christmas that I still believe in miracles, but wouldn't it be great if the John Boehner who takes the gavel on Wednesday is the one who weeps at the thought of kids denied a shot at the American Dream?

If Pettitte does decide to retire, it's been rumored that the Yankees might make an aggressive pursuit for Soriano to create a lock-down bullpen, one that the Yankees haven't had since the days of Rivera and John Wetteland in 1996.

If the Yankees were to get Soriano, they would have to surrender a first-round draft pick to the Rays, but the Yankees also can be compensated with a draft pick due to Javier Vazquez signing with the Marlins.

As of right now, the Yankees don't have an imminent heir to Rivera's closer job if he retires anytime soon, and they don't have a main setup man after Kerry Wood turned down more money to return to the Cubs this winter.

The Yankees could consider Joba Chamberlain and David Robertson for the setup role, but both have had their struggles in the past, so Soriano would be an instant upgrade to the bullpen and a much better option to follow in Rivera's footsteps.

The White Sox are said to be interested in Soriano after letting Bobby Jenks go, and the Angels have expressed interest after losing out on Adrian Beltre and Carl Crawford this winter as well. But the Angels also signed Scott Downs to a three-year deal, plus already have Fernando Rodney as their current closer.

Although Soriano is a solid closer and could easily get a closing job this winter, he has said he would be a setup man for only one team, meaning the Yankees.

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Transfer news: Chelsea boss Carlo Ancelotti targets AC Milan ...

Chelsea boss targets AC Milan striker, Aston Villa plot player swap for Newcastle star and Real Madrid warn Man United, Man City and Chelsea off defender.

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Friday, January 7, 2011

personal finance books

By the end of 2010, Harlequin Enterprises will have sold a grand total of more than 6 billion books in the company's 60-year history. But on Dec. 28, Harlequin will try to sell its first personal finance book.

The Frugalista Files, written by former Miami Herald personal finance blogger Natalie McNeal, is a diary of the year that one 34-year old spent trying to pay off her credit card debt -- "without giving up the fabulous life."

McNeal's book is written in a diary format, with all the personal details and emoticons entailed in that approach: "I admit it. My name is Natalie. I am a spending slut." It's certainly not a book that targets my college-age demographic, but many readers will find her story inspiring. If Natalie can do it, so can you.

"My book is for anyone who is a promiscuous spender and is looking for real-life tips on how to be financially chaste," McNeal tells DailyFinance. "It's highly personal personal finance."

Katherine Orr, Harlequin's vice president of public relations, sees the move into financial advice as a logical step for the world's largest publisher of romance novels.

"For 60 years, we've provided escape from problems, and now we can help solve the problems," she says. She calls McNeal's book "very prescriptive. It's clear and simple, and it's helping young singles navigate in a tough world."

Harlequin first began publishing nonfiction in October 2008 with a book from syndicated radio host Delilah. Subsequent titles have included fitness guru Tosca Reno's best seller Your Best Body Now: Look and Feel Fabulous at Any Age the Eat-Clean Way, along with titles like The Happy Baker: A Girl's Guide to Emotional Baking; Life Beyond Your Eating Disorder; The Dog Who Healed a Family; and Queen of Your Own Life.

The market for pink-covered personal finance books for women hasn't been especially strong. None of financial adviser Suze Orman's mega-bestselling money books have boasted a pink cover, and none of the slew of recently released girl-talk guides for women have sold well. Titles like Shoo, Jimmy Choo!; Bitches on a Budget: Sage Advice for Surviving Tough Times in Style; andA Purse of Your Own: An Easy Guide to Financial Security have all failed to register much of an impact in terms of sales.

Kimberly Palmer, the personal finance editor with US News & World Report and the author of Generation Earn, says many financial guides for women are marketed as "simplified [and] dumbed-down."

"Women don't like to be talked to as if we're bad with money, because we're not," she says. "Too many books for women assume that we overspend on shoes and cosmos when we're really just looking for the same kind of smart, solid financial advice that men want."

But if there's one publisher in America that knows what women are looking for when they buy a book, it's Harlequin. Perhaps it'll be able to reach a segment of the population badly in need of financial advice -- one that other publishers have so far been largely unable to connect with.

Posting for a friend:

Last week I was cleaning out my desk when I noticed a wad of 20s sticking out from one of the books on the shelf above my desk ($200 total). At first I got super-excited, thinking I'd stashed some cash and forgotten it. But then I realized that the cash was actually sticking out of a card in the book. I remembered that the book (which I hadn't gotten around to reading) was a gift from a family member, L, for my birthday in the winter of '07-08.

I looked at the card and saw that L had written an inscription asking me to donate the cash to the Obama campaign in my name. Uh-oh. Obviously I did not do this. In fact, I have absolutely no memory of receiving this money or L's request. Normally I'm not a forgetful person, but that winter was an insane period in my life. Still, I feel absolutely and completely horrible about this. I completely abused L's trust.

So now I need to figure out what to do with this money. Just keeping it is not an option. I could give it back to L with a profuse apology. This makes the most sense but I'm worried that she'll be angry that I never did this and hurt that I paid so little attention to her present - not only did I not read the book, but I never even opened it!

I could donate the money to a charity I know she would support, like Planned Parenthood. I could wait until 2012 and donate it to Obama's reelection effort.

What would you do in my case?
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Thursday, January 6, 2011

Making Free Money Online

(Yes, I really want to start using the word ‘pivot’ in more headlines in 2011 – it’s one of my New Year resolutions).

ZapTunes.com is a gigantic scam. They used to trick people into believing they could sign up for the service – handing over their credit card details in the process – and instantly gain access to an online music catalog of more than 8 million DRM-free songs they could legally download. For $25 a month.

Of course, the ‘startup’ was quickly and diligently called out for being a devious fraud, by TorrentFreak for one. Of course, it wasn’t so hard to identify ZapTunes as a huge scam – they were stupid enough to claim they’d signed a licensing deal that enabled it to offer music from The Beatles (this was way before Apple got to that point).

Anyway, they announced their shutdown just months after launching, to no one’s surprise but undoubtedly not after taking some gullible people’s money.

In their own press release, they stated that “from the very first day of its launch, ZapTunes had been struggling against numerous DMCA complaints and lawsuits that were brought against it by a handful of label companies”.

This morning, however, the fraudulent company announced its return, this time billing itself as a social music discovery network. They will stop offering free music downloads, and all existing subscriptions are to be canceled as soon as the new website is launched.

Although ZapTunes mentions how it has struggled to “get to a point of profit” to date, the company says it has attracted 25,000 subscribers to its free music download service, which, again, sets those users back $25 per month.

I sincerely hope that, too, is a lie, and far fewer people got tricked by these fraudsters.

The reason for this post is simple: I want as many people as possible to land on this blog post or the ones I linked to above when doing a search for ZapTunes, in the hopes of making them realize they should stay far, far away from it.

Ok Go Explains There Are Lots Of Ways To Make Money If You Can Get Fans

from the everything's-possible dept

Over the last few years, we've covered many of the moves by the band Ok Go -- to build up a fanbase often with the help of amazingly viral videos, ditch their major record label (EMI), and explore new business model opportunities. In the last few days, two different members of Ok Go explained a bit more of the band's thinking in two separate places, and both are worth reading. First up, we have Tim Nordwind, who did an interview with Hypebot, where he explained the band's general view on file sharing:

Obviously we'd love for anyone who has our music to buy a copy. But again, we're realistic enough to know that most music can be found online for free. And trying to block people's access to it isn't good for bands or music. If music is going to be free, then musicians will simply have to find alternative methods to make a living in the music business. People are spending money on music, but it's on the technology to play it. They spend hundreds of dollars on Ipods, but then fill it with 80 gigs of free music. That's ok, but it's just a different world now, and bands must learn to adjust.

Elsewhere in the interview, he talks about the importance of making fans happy and how the band realizes that there are lots of different ways to make money, rather than just selling music directly:

Our videos have opened up many more opportunities for us to make the things we want to make, and to chase our best and wildest ideas. Yes, we need to figure out how to make a living in a world where people don't buy music anymore. But really, we've been doing that for the last ten years. Things like licensing, touring, merch, and also now making videos through corporate sponsorship have all allowed us to keep the lights on and continue making music.

Separately, last Friday, Damian Kulash wrote a nice writeup in the Wall Street Journal all about how bands can, should and will make money going forward. In many ways the piece reminds me a bit of my future of music business models post from earlier this year -- and Kulash even uses many of the same examples in his article (Corey Smith, Amanda Palmer, Josh Freese, etc.). It's a really worthwhile read as well. He starts by pointing out that for a little over half a century, the record labels had the world convinced that the "music" industry really was just the "recorded music" industry:

For a decade, analysts have been hyperventilating about the demise of the music industry. But music isn't going away. We're just moving out of the brief period--a flash in history's pan--when an artist could expect to make a living selling records alone. Music is as old as humanity itself, and just as difficult to define. It's an ephemeral, temporal and subjective experience.

For several decades, though, from about World War II until sometime in the last 10 years, the recording industry managed to successfully and profitably pin it down to a stable, if circular, definition: Music was recordings of music. Records not only made it possible for musicians to connect with listeners anywhere, at any time, but offered a discrete package for commoditization. It was the perfect bottling of lightning: A powerful experience could be packaged in plastic and then bought and sold like any other commercial product.

But, he notes, that time is now gone, thanks in large part to the internet. But that doesn't mean the music business is in trouble. Just the business of selling recorded music. But there's lots of things musicians can sell. He highlights Corey Smith and Smith's ability to make millions by giving away his music for free, and then touring. But he also points out that touring isn't for everyone. He covers how corporate licensing has become a bigger and bigger opportunity for bands that are getting popular. While he doesn't highlight the specific economics of it, what he's really talking about is that if your band is big, you can sell your fan's attention -- which is something Ok Go has done successfully by getting corporate sponsorship of their videos. As he notes, the sponsors provide more money than the record labels with many fewer strings:

These days, money coming from a record label often comes with more embedded creative restrictions than the marketing dollars of other industries. A record label typically measures success in number of records sold. Outside sponsors, by contrast, tend to take a broader view of success. The measuring stick could be mentions in the press, traffic to a website, email addresses collected or views of online videos. Artists have meaningful, direct, and emotional access to our fans, and at a time when capturing the public's attention is increasingly difficult for the army of competing marketers, that access is a big asset.

...

Now when we need funding for a large project, we look for a sponsor. A couple weeks ago, my band held an eight-mile musical street parade through Los Angeles, courtesy of Range Rover. They brought no cars, signage or branding; they just asked that we credit them in the documentation of it. A few weeks earlier, we released a music video made in partnership with Samsung, and in February, one was underwritten by State Farm.

We had complete creative control in the productions. At the end of each clip we thanked the company involved, and genuinely, because we truly are thankful. We got the money we needed to make what we want, our fans enjoyed our videos for free, and our corporate Medicis got what their marketing departments were after: millions of eyes and goodwill from our fans. While most bands struggle to wrestle modest video budgets from labels that see videos as loss leaders, ours wind up making us a profit.

Of course, that only works if you have a big enough fanbase, but that doesn't mean there aren't things that less well known bands can use to make money as well. He talks about an up-and-coming band in LA that doesn't even have a manager that was able make money:

The unsigned and unmanaged Los Angeles band Killola toured last summer and offered deluxe USB packages that included full albums, live recordings and access to two future private online concerts for $40 per piece. Killola grossed $18,000 and wound up in the black for their tour. Mr. Donnelly says, "I can't imagine they'll be ordering their yacht anytime soon, but traditionally bands at that point in their careers aren't even breaking even on tour."

The point, Kulash, notes, is that there's a lot of things a band can sell, focusing on "selling themselves." And, the thing he doesn't mention is that, when you're focusing on selling the overall experience that is "you" as a musician or a band, it's something that can't be freely copied. People can copy the music all they want, but they can't copy you. "You" are a scarce good that can't be "pirated." That's exactly what more and more musicians are figuring out these days, and it's helping to make many more artists profitable. And, no, it doesn't mean that any artist can make money. But it certainly looks like any artist that understands this can do a hell of a lot better than they would have otherwise, if they just relied on the old way of making money in the music business.

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Monday, January 10, 2011

Friday, January 7, 2011

Thursday, January 6, 2011

Ok Go Explains There Are Lots Of Ways To Make Money If You Can Get Fans

from the everything's-possible dept

Wednesday, January 5, 2011

For more Social Media coverage:

Tuesday, January 4, 2011