An auction event organised by Julien’s auctions (of Darren Julien), sold a Jackson album ‘Goin’ Back to Indiana’ for $33,750. The auction also featured other collections of Michael Jackson, Marilyn Monroe and Elvis Presley. Social networking sites have also not let-go this opportunity and have done everything possible to give their users real-time updates.
Twitter and Facebook are alleged to be the first ones to break the news of Jackson’s death. Twitter saw up to 5,000 Jackson-related messages being posted per minute and eventually his death emerged as the most discussed subject on the portal. Facebook saw a similar response; with the number of postings tripling during the hour after the news of Jackson’s death broke. Talking on these marketing techniques, Barry states, “Some companies license rights to use a dead celebrity’s image, movie clips, or music and incorporate those things into TV ads or promotional materials. Others just pay homage to the dead celebrity to gain a marketing association with the individual.”
Even IT giants are getting enamoured by the potential of this mammoth business. Corbis, the digital image company set up by Bill Gates, has bought a Beverly Hills company, which owns the image rights to more than 50 deceased celebrities. Corbis takes a 20% cut of the profits from any endorsement, double the usual rate for a living celebrity endorsement. Even celebrity Promotion Companies like CKX rely heavily on dead celebs for their bottom-line. They purchase the intellectual property rights and thus churn out huge money.
And if you thought that only the big brands and consultants can take advantage of legends that have passed away, you could not be more wrong. Just walk the streets of New York, London or Rio De Janeiro and you’ll see markets flooded with Che Guevara, Marilyn Monroe and now even Jackson merchandise, ranging from T-shirts, handkerchiefs and coffee mugs to sundry decorative brick bracks. True, dead celebs make for hot brands, hotter than even the living ones! May their souls Rest In Peace!
For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2009
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
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Twitter and Facebook are alleged to be the first ones to break the news of Jackson’s death. Twitter saw up to 5,000 Jackson-related messages being posted per minute and eventually his death emerged as the most discussed subject on the portal. Facebook saw a similar response; with the number of postings tripling during the hour after the news of Jackson’s death broke. Talking on these marketing techniques, Barry states, “Some companies license rights to use a dead celebrity’s image, movie clips, or music and incorporate those things into TV ads or promotional materials. Others just pay homage to the dead celebrity to gain a marketing association with the individual.”
Even IT giants are getting enamoured by the potential of this mammoth business. Corbis, the digital image company set up by Bill Gates, has bought a Beverly Hills company, which owns the image rights to more than 50 deceased celebrities. Corbis takes a 20% cut of the profits from any endorsement, double the usual rate for a living celebrity endorsement. Even celebrity Promotion Companies like CKX rely heavily on dead celebs for their bottom-line. They purchase the intellectual property rights and thus churn out huge money.
And if you thought that only the big brands and consultants can take advantage of legends that have passed away, you could not be more wrong. Just walk the streets of New York, London or Rio De Janeiro and you’ll see markets flooded with Che Guevara, Marilyn Monroe and now even Jackson merchandise, ranging from T-shirts, handkerchiefs and coffee mugs to sundry decorative brick bracks. True, dead celebs make for hot brands, hotter than even the living ones! May their souls Rest In Peace!
For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2009
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
IIPM fights meltdown, places 2300 students By Education Mail Bureau
Delhi/ NCR B- Schools get better By Swati Sharma
Event at IIPM
Detail of all IIPM branches
IIPM set to beat economic slowdown
IIPM Admission Detail
IIPM, GURGAON
