In the market for a Dave Matthews Band shoulder-bag or a Rihanna perfume? Although they may seem like strange bedfellows, musicians and bands are increasingly looking to creative merchandising strategies to add revenue and strength their brands.
According to an article published by Fortune, while merchandise sales accounted for only about 6% of a rock band’s income in 2011 (and significantly less for jazz and classical musicians), merchandising serves multiple beneficial purposes, such as potentially adding revenue as well as building and strengthening the band or musician’s brand.
Fortune’s article notes some particularly “creative” merchandise concepts such as a Metallica ice pack or DeadMau5 headphones for cats — you read that right, cats! Maybe not every idea is going to be a commercial success, but even the most bizarre — sorry, most “creative” — ideas have the potential to draw attention and create publicity, all of which can build and strengthen a musician or band’s brand.
Over the next few weeks, we will explore some of the legal considerations for musicians and bands seeking to develop merchandising strategies.
