Entertainment and Luxury
The world of luxury brands has forever shared close ties with the entertainment industry. High-end luxury brands have been appearing in dance, theater, films, and many other creative segments of the industry. However, recent times have witnessed a transition from their role as a partner to a producer.
The traditional association of entertainment and luxury has been a symbiotic relationship for both. The entertainment industry got access to exclusive, quintessential, and impressive designer products. In comparison, the luxury industry got a free pass to entertainment advertising. Showcasing their products on prominent platforms increased the opportunity of engaging with the consumer base of the future. They impart them aspirations to own luxury soon!
Let us begin by going through the top trends of entertainment marketing that can be beneficial for the luxury brands across the globe for increasing their sales and reach:
Brands are becoming producers –
Recently, brands have started to take up prediction works such as creating music and other in-house video shoots.
Sponsorship deals –
With the rising trends of music festivals and other such creative events, luxury brands have shaken hands with sponsors to carve a niche for themselves on such platforms.
Elevated product placement –
One of the finest marketing trends that have emerged with the amalgamation of entertainment and luxury is the multifaceted campaigns run by brands. Some also go a step further by creating a unique collection of a specific movie that increases sales of their products by acting as an inspiration point for designers.
New muse and models –
The glitz and glamor of celebrities makes them a fine choice for representing as the face of luxury brands. The brands tend to benefit through the reach of celebrities and their followers.
Competitors from the entertainment industry –
It is no surprise that celebrities are faces of big brands. However, recent trends have witnessed the evolvement of top-notch celebrities into luxury competitors for these global brands. Many celebrities have launched their personal labels foraying well in the industry by providing still competition to traditionally established big brands.
Big screen, theaters, and art festivals have leveraged the relationship of two powerful industries. Significant influencers and celebrities have changed the way of advertisements and have covered a long journey of representing brands on various social media platforms besides featuring in their advertisements. These associations have increased the revenue and engagement of the brands and opened doors to further healthy competition in the industries of glamor and grandeur.
Besides the obviously stated fields, brands have also tried their hand at engaging with video game creators and automakers to design apparel for players and other global events. With the rise of digital media such as mobiles, the luxury industry has discovered that they tend to reach a greater audience by creating these exclusive game-like experiences and making a more significant impact. Soon, the world might witness the blurring of boundaries between entertainment and luxury as industries and change the way businesses and markets have been running for centuries!