The biggest value creation that any artist can aspire to is leveraging their fandom to start a multi-million and potentially billion dollar brand. It's not easy, and many don't work out. But when the artist is able to pinpoint the values they stand for and create a brand out of it, the potential scale they can hit is beyond anything else their career has seen. Take Jay-Z. In 2006, Roederer’s Cristal was the Champagne brand for hip hop. Rappers featured it in their lyrics and and were seen drinking it in their videos. But Frédéric Rouzaud, Roederer’s MD, wasn't too stoked about the association. He said in an interview that ‘we can’t forbid people from buying it’. Jay Z soon issued a statement announcing a boycott of Cristal. In the same year, Jay Z releases the video for ‘Show me what you got’. In it, he’s seen refusing a bottle of Cristal. Then he’s brought a silver case: it’s opened, and inside is a bottle of Armand de Brignac in all its golden glory. Ace Of Spades is inscribed on it. It took Jay-Z close to a decade to entirely acquire ownership of Armand De Brignanc, but his rebranding and positioning of the bottle was integral in growing it to what it is today. It is a hyper luxury champagne that can retail for $65,000 at the top end. In 2021, he sold half of his stake to the world's most coveted luxury empire, LVMH for an undisclosed amount. This comes two years after Jay-Z helped facilitate a collaboration with LVMH for Rihanna, an artist managed by his agency Roc Nation. He's created an empire of luxury and become a confidante to the world's second richest man in the process. Maybe that dinner with Jay-Z is worth it. Jay-Z's story is just one. I'm going to showcase a few more, namely Dr Dre, P. Diddy, Rihanna, Selena Gomez, to show how musicians have created billions of dollars in value through their own brands. With Indian companies like House of X and artists like King and Zaeden starting their own journey, hopefully we can see similar trends growing inside the country. #musicindustry #musicbusiness #luxury #lvmh #aceofspades
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Founder Brand Rap Studios | Making Raps, Music Videos & TVC for the Coolest Brands | A Gen Z who understands Gen Z
10moHe always had the brains. Even his book promotion campaign was something i've never seen before. He didn't even need to do all that. Could have easily become a bestseller just by 'Written by Jay Z' but that man is a business inspiration for all the rappers