The IDPF is wrapping up the second day of their conference here in NYC, and one session I happened to catch covered used content. There wasn't much that was new to me in the session, and I'd written about it before, but a couple details stood out and are worth repeating.
John Ossenmacher, the founder and CEO of the used digital music marketplace ReDigi, was on the panel and he shared a few insights that ReDigi has learned in its 2 years of operations. It turns out that sellers of used music don't just take their money and go away; they turn around and buy more music.
As you may know, ReDigi also sells new music (they have contracts with several record companies), and John told me that ReDigi's partners are reporting decent sales through the site. What's even more interesting is that at least one partner reported seeing a rise in the sale of albums.
Yes, even though single tracks now dominate the digital music market albums seem to be making a comeback (on the ReDigi site, at least). John attributed this to buyers' greater willingness to take risks. He thinks, and I agree, that once music buyers realize that they can sell the music they don't like they are more willing to risk their money.
Music lovers see the ability to sell used music as a safety net that protects them from bad purchases. That is not exactly a new idea; I have written in the past that Amazon's return policy increased the chance that I would take a risk on an ebook:
I am a little surprised at the number of authors who don't realize the importance of Amazon's return policy. While a few people use it to cheat, the rest of us see it as a promise that we can return a crappy product. This increases the probability that we will take risks with unknown authors.
I know that a lot of creators live in fear of the day when customers could be able to resell used digital content, but as ReDigi is already showing there is a silver lining to this cloud.
- ReDigi Responds to Amazon’s Used eBook Patent and Convinces Me That I’ll Never Use Its Service
- A Flawed Decision Costs ReDigi the First Round of Court Case Over Reselling Digital Music
- ReDigi Plans to Launch a Used eBook Marketplace Soon, Still ReSells Used Digital Music
- Used eBooks 101: How Amazon Can Legally Resell eBooks