Despite being free to the public, the event generates stratospheric values
The show Madonna on Copacabana beach, this Saturday, the 4th, is already considered a second New Year’s Eve. The number of tourists that the singer brought to the Rio de Janeiro It is registered in airports, hotels and shops in the capital of Rio de Janeiro. According to the city hall, 1.5 million people are expected to attend the event. And, despite being free to the public, the event generates stratospheric values, such as the R$ 17 million fee for the pop diva.
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In addition to the investment of the Municipality of Rio de Janeiro so that the singer can take the stage later in the evening, the event has important sponsors, such as Itau AND Heineken – The bank, in fact, was responsible for bringing the queen of pop to Brazil. Given the investments, many may wonder: what are the interests of these brands and how do they make money from a free show?
Marcos Machado, professor at the FIA Business School, explains that the initiative works like an investment, since the financial gain is not immediate.
“For sponsors, the gain from association with an event is brand image. Of course, the financial return can come later, as a result of strengthening the brand,” he adds.
Jaime Troiano, president of TroianoBranding, a brand research and management consultancy, also says that sponsorship is a way to bring the company closer to its stakeholders (parties interested in its products). The key to success are two dimensions and both sponsors meet the requirements well.
“The first [chave] it is the potential affinity that exists between the personality of the sponsoring brand and the nature of what it sponsors. The second is the extent to which the sponsor has an easily identifiable presence within the group of sponsors involved in the same project,” he explains.
Madonna’s show will start at 9.45pm and last two hours. This will be the last show of the tour The celebration, which celebrates the artist’s 40-year career. With the show, Madonna will have performed in Brazil four times. She has already enchanted the Brazilian public with her tour The girls’ show, in 1993; THE Sticky and sweet tour, in 2008; and the MDNAin 2012.
“When the public remembers the experience of the event and the presence of the brand, they will make a natural transfer, bringing the meanings they were looking for to the brand. The fact that the event is free changes this process little. There is always a part of people who rationalize the process and understand that the brand pays the price for that experience”, adds Machado.
Source: Terra
Earl Johnson is a music writer at Gossipify, known for his in-depth analysis and unique perspective on the industry. A graduate of USC with a degree in Music, he brings years of experience and passion to his writing. He covers the latest releases and trends, always on the lookout for the next big thing in music.
