Got a sneaker deal and I ain’t break a sweat. -Drake
Earlier today I had the pleasure of speaking at WORLDZ with Krewella and Jesse K from NUE on what it takes to create a rockstar business plan.
Jesse is a cultural marketing expert with deep roots in music.
In terms of brand sponsorship dollars, it’s interesting to compare sports and music.
Jesse claims brand dollars put forth to sports outnumber music approximately 15 to 1 – this number doesn’t surprise me given the monstrous organizational structure and monetization machine of professional sports.
Yet music has arguably significantly more cultural relevance than sports.
Jesse brings up the fact one great musician can sell out an arena compared to entire sports teams.
However, in music the infrastructure for scaling sponsorship deals is not in place the way it is for professional sports leagues.
While one off artist deals or joint ventures with superstars can reap significant results, it can still be challenging for brands to find creative avenues to buy into multiple artists simultaneously.
While brand dollars toward music are surely increasing, what would it take to make the process more seamless expanding the marketplace and increasing the value for both sides in the process?
This is a question I’ve seen tried to be answered in a multitude of different ways via new age social data and marketing companies.
The grand solution may not be here yet, but it is a tremendous opportunity for future disruption.