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turning auditions into a business, how good is kanye west at making money?

2024-09-17

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kanye west's world tour listening session - haikou station will be held as scheduled during the mid-autumn festival holiday. according to hainan daily, on the day of the performance on september 15 alone, the average occupancy rate of accommodation facilities in haikou was 83.42%, a year-on-year increase of 41.82% and a month-on-month increase of 10.44%; the average occupancy rate of 23 key monitored hotels was 88.3%, and the occupancy rate of 53 tourist hotels reached more than 90%, which is expected to drive the turnover of the accommodation industry to more than 45 million yuan. the city's major scenic spots and rural tourist spots received a total of 73,900 tourists. the sales of offshore duty-free shops in the city were 56 million yuan, a year-on-year increase of 4.5% and a month-on-month increase of 21.5%.

it is reported that the ticket prices for this audition are divided into five levels: 680 yuan, 980 yuan, 1280 yuan, 1680 yuan, and 2000 yuan. judging from the sales of the audition tickets, the tickets for this audition were quickly sold out on the two major ticketing platforms, maoyan and damai, as soon as they were publicly sold, and 96.5% of the people who bought tickets were from outside the island.

while the box office revenue was considerable, the sales of peripherals of this audition were also extremely popular. in terms of the categories and prices of the peripherals, the audition peripherals included hoodies, t-shirts and other clothing in different colors and patterns, and the price was 200 yuan per piece.

since the beginning of this year, kanye west has held a total of 5 listening sessions in the united states, italy and france. according to billboard, the total box office of the above five listening sessions exceeded 12 million us dollars. in addition, it is understood that the peripherals related to the listening sessions are priced at 20 us dollars in the united states and 40 euros in europe.

different from traditional concerts, the performance format of audition sessions is derived from the earliest marketing model of record companies. before the release of a record, the record company invites a small number of professionals and fans to audition the record in advance to collect feedback and facilitate subsequent marketing.

however, kanye west broke the tradition and sold a large number of listening session tickets and peripheral products, allowing everyone from fans to passers-by to participate, turning the traditional listening session into a new marketing model.

"kanye west's listening session is not just a music event, but a commercial behavior that has caused a sensation in the market through the clever combination of art and business. his success lies not only in the music itself, but also in how to innovatively combine art and business." lin xianping, executive deputy secretary-general of the china urban expert think tank committee, said, "in addition, the successful holding of kanye west's listening session in haikou has not only greatly promoted haikou's cultural and tourism consumption, but also promoted the growth of local tourism revenue."

data from the haikou tourism and culture bureau showed that the audition achieved box office revenue of approximately 51 million yuan, with a total of 39,727 audience members attending, driving haikou's tourism revenue to 373 million yuan.

in fact, as kanye west has made listening sessions a hot "new item" in the performance market, more and more singers and companies have begun to get involved. can the performance form of listening sessions become popular? zhang xinyuan, head of research at kefangde think tank, said that the success of a performance and the commercial value it can generate need to take into account many factors, such as market demand, publicity efforts and cultural background.

in the industry's view, the holding of auditions also takes into account the balance between business and art. the influence of celebrities can indeed play a role in increasing attention and attendance to a certain extent, but for fans who love music, the most attractive thing is the atmosphere of the audition on site.

beijing business daily reporter lu yang and intern reporter wang manlei

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