In the pursuit of enhancing audience lifetime value, leading entertainment labels have harnessed the potential of QR technology to strengthen their robust retention strategies. The rationale behind this approach is clear: QR technology provides an instantaneous means of capturing and maintaining the audience's attention, reaching them right where they are—on their mobile devices.
This multifaceted strategy operates on two fronts: Firstly, QR technology serves as a dynamic gateway, channeling fans toward websites, merchandise sales pages, or streaming platforms that harbor additional avenues for long-term and recurring monetization. Entertainment brands tap into a wealth of opportunities for sustained revenue generation by ushering fans through this virtual door. Secondly, integrating QR codes into customer relationship management (CRM) systems empowers these brands to execute precise re-targeting initiatives. This capability proves instrumental in driving supplementary ticket sales, merchandise drops, and new releases.
Delving into the statistics further underscores the potential impact of this strategy: A staggering 64% of U.S. consumers' time is spent not on the internet directly, underscoring the significance of having direct access via mobile devices. The licensed merchandise market is predicted to burgeon to a colossal $445 billion by 2027, indicative of a burgeoning monetization avenue that entertainment labels can tap into through QR-enabled engagement. Additionally, the pay-per-view livestream market is poised to reach a substantial $2 billion by 2027, further emphasizing the opportunities that QR technology can help seize.
Merchandise is the timeless cornerstone of the music and entertainment world. Despite not being the latest tech trend, its role in branding and event profitability is rapidly gaining momentum. Exciting opportunities are on the horizon as the licensed merchandise market is expected to reach a whopping $445 billion by 2027!
The pandemic triggered a merch resurgence. When live gigs' income vanished, merch production rose, tapping into production-on-demand models. Everpress, a creative merch marketplace, doubled sales during the pandemic, with 25% of t-shirt sales credited to musicians. Rapper Travis Scott smashed revenue records by selling $1 million of merchandise at his London 02 shows.
Merch goes beyond revenue, offering limitless creative freedom. Fashion-forward shirts, hats, and bags become stylish statements, gracing Balenciaga and Louis Vuitton catwalks and earning their place as classics in retail aesthetics.
But wait, that’s not all! Don't underestimate merch resale value! Streetwear resale site StockX reported a jaw-dropping 553% premium on a "Kids See Ghosts" sweatshirt from Kanye West and Kid Cudi's project.
With streaming revenue limited and ticket sales prone to fluctuations, merch provides artists with a rock-solid income stream. It's not just for megastars; even emerging artists can earn more from merch than record sales. Head of A&R at Sandbag, Jordan Gaster, even stated, “Unless you’re a mainstream pop artist, [artists are] making more money on their merchandise than they are from a record.”
Unleash your merch magic and seize the stage for unparalleled success! Let your branding soar, fans connect, and revenue flourish. The time is now—tap into the boundless potential of merch! 🌟
Consumers' preferences and behaviors constantly evolve in the entertainment industry, driven by technological advancements, social media trends, and shifting cultural norms. Audience tastes change rapidly, making it essential for entertainment industry marketers to stay attuned to these shifts to remain relevant. CRM collection provides a data-driven approach to understanding consumer behavior. It enables marketers to gather insights on what content resonates with their audience, what platforms they prefer, and how their preferences change over time. This knowledge empowers marketers to tailor their strategies, ensuring they can effectively target and engage their audiences amidst these evolving trends.
The entertainment industry has experienced a significant digital transformation, with digital platforms dominating content consumption and advertising. Digital channels, from streaming services to social media, are crucial in reaching audiences. CRM collection allows marketers to navigate this digital landscape by aggregating data from various digital touchpoints. They can analyze customer interactions across these platforms to comprehensively view their audience's online behavior. With this information, marketers can optimize their digital marketing efforts, allocate resources to the most effective channels, and ensure their messages reach the right audiences at the right time.
Content overload is a prominent challenge in the entertainment industry, as numerous artists, movies, TV shows, and music compete for audience attention. Standing out and creating a lasting impression amidst this saturation requires targeted and personalized content. CRM collection equips marketers with customer insights, enabling them to understand what specific content resonates best with their audience. By tailoring content based on this data, marketers can create experiences that capture attention and foster a connection with fans, increasing engagement and brand loyalty.
Additionally, consumers have shorter attention spans in today's fast-paced world, making it challenging to convey messages effectively. The entertainment industry relies heavily on captivating storytelling and engaging narratives to connect with audiences. CRM collection assists marketers in understanding their audience's preferences and behavior, enabling them to craft concise and impactful content. By leveraging data on customer interaction times and engagement levels, marketers can optimize content for maximum impact, ensuring that their messages resonate with their audience within the limited attention window.
The loyalty game has changed, here is how brands are adapting.
Unleash the power of merch with Flowcode's game-changing QR technology! Integrating Flowcode's QRs into your merchandise opens a world of possibilities for your fans. From hidden content and exclusive discounts to limited edition items, Flowcode provides an enticing gateway that keeps fans coming back for more.
Our revolutionary "scan-to-buy" feature takes fan convenience to the next level, streamlining the purchasing process and igniting new revenue streams. Experience a surge in incremental sales as fans embrace the seamless shopping experience Flowcode offers.
Don’t believe us? The success stories speak for themselves. Flowcode boasts a 25% scan rate at live events and an incredible 70% email conversion rate, In one instance, X Group collaborated with Flowcode to develop interactive experiences at Lyric Theatre using seatback signage. In a mere 2 weeks, they were up and running. Ultimately, this strategic partnership led to X Group increasing their revenue by nearly 50% every night the show ran. Plus, they underwent a 48% revenue lift per show, a 27% conversion rate, and 1 in 3 attendees scanning the Flowcode nightly.
Ever wondered how to bridge the gap between offline users and online platforms in a flash? The answer lies in the showstopping world of Flowcode! Witness its star power as it captivates music and entertainment industry audiences. With a jaw-dropping 25% scan rate at live events and an incredible 70% email conversion rate, Flowcode is the secret to an extraordinary experience.
For a global pop star’s 20-stop tour, Flowcode supported a merchandise commerce activation. The results of this campaign were impressive, generating $100,000 in additional merchandise sales, with 19% of attendees scanning the code and 7.7% of scanners making purchases. This translated into $500 in hourly revenue and a 100x ROI.
Flowcode has taken the music and entertainment industries by storm, revolutionizing live events with astonishing engagement rates. How do we do it? Our secret lies in customizable QR codes and mobile-responsive landing pages that effortlessly capture attention and make scanning a breeze.
But Flowcode goes beyond numbers; it's about creating an enduring fanbase. Through Flowcode, brands have achieved remarkable campaign results, fostering authentic connections between fans and artists. With opportunities to connect, access exclusive content, and purchase merchandise, Flowcode allows you to build an unbreakable bond with your audience.
Loyal fans are the cornerstone of an artist's success. To strengthen these connections, artists embrace Customer Relationship Management (CRM) as a vital tool. Enter Flowcode's cutting-edge CRM collection feature, empowering artists to gather valuable fan data seamlessly. Track engagement metrics, identify dedicated supporters, and gain priceless insights into your audience's preferences. This data-driven approach allows artists to curate tailored content, merchandise, and experiences that resonate deeply, resulting in heightened satisfaction and unwavering loyalty.
By integrating with CRM systems, Flowcode streamlines fan engagement, making it easier to collect and manage fan data and nurture valuable relationships. In one instance, Flowcode contributed to a 99% expansion of an artist's fanbase by capturing new contact information, with an impressive 70% conversion rate. The music industry's use of big data analytics and platforms like Flowcode and CRM integrations has transformed how artists connect with fans, leading to more personalized and meaningful experiences and allowing the industry to forecast trends and make data-driven decisions for amplified success.
Learn how to leverage this same engagement for your brand by utilizing the script of top labels.