The Wu-Tang Clan recently made headlines by announcing it would only release a single copy of their new album, this from me, 5WPR CEO Ronn Torossian. Many people immediately started to wonder why in the world the group would do that, but it is actually a genius marketing ploy that is going to bring about all sorts of attention to the new album and most likely increase the number of individuals who obtain digital copies of the music. Of course, there are a few bits of information that need to be noted in order to truly understand why the group is doing this and what exactly it means.
For starters, yes the group is only releasing a single copy of the album, but this does not mean the group is not going to allow other individuals to obtain their music. After all, if this served as the only actual music release, than the FBI and other authorities would immediately know who ripped the CD and gave a copy to their friends. This is not how it is going to work. The group is still going to sell its music via download through iTunes and other services, so that is not going to be a problem. In fact, when you think about how many individuals actually go out and purchase a CD from the store, that list is probably pretty small. Outside of special deluxe packages, most fans don’t purchase CDs from the store.
So, if everyone can still purchase the music online, what is the big deal? For one, it is now the most valuable collectors item associated with Wu-Tang. And the more rare an item, the more valuable it is. According to Forbes, there are already bids for the CD that are going over $5 million, and the bidding hasn’t even started. This means the single CD could easily reach almost $10 million. That would be the equivalent, value wise, of the album going instant platinum in its first day on sale. So, essentially it would probably make more money by selling a single album than by releasing an unlimited number.
Lastly, how often do you actually pay attention to a single album hitting the shelves? Unless it is your favorite band, you probably don’t really care. However, when a pulls this kind of publicity stunt, everyone takes notice and now, suddenly, the next Wu-Tang album is even bigger than it ever would have been, if they simply sold an unlimited number. This is what I call a great public relations plan.
It was reported that Electronic DJ Skrillex, purchased the album for $5 Million Dollars. Shortly after this announcement, Skrillex’s reps denied the accounts. We want to know; would you shell out the dough for the new project?
About Ronn Torossian
Ronn Torossian is the Founder and CEO of 5W Public Relations. He is an experienced leader in the public relations industry with over 20 years of experience. Ronn Torossian has been named as Public Relations executive of the year by the American Business Awards, and has run countless award-winning Public Relations programs.