My Radio

I don’t think I have shared this with you guys yet, but I absolutely adore Beyonce! I know you are thinking “of course you do, who doesn’t?” But, I have been a loyal fan since her “No, No, No” days with Destiny’s Child. This week in class we have been discussion Artist and Product Management and the link between the two. Last year Beyonce came out with her first fragrance called “Heat” (and by the way I am already on bottle number 3). According to the NY Daily News, this product had $3 million dollars in sales during its first month on the shelves. On the very first day of its launch Beyonce visited a Macy’s to promote Heat and promoted the sell of 72,000 bottles.

Beyonce is definitely a super-celebrity, so this already gives her the upper-hand in being able to produce a high volume of sales, but I also think the success of her marketing and advertising strategies helped in this as well. Heat is only sold at Macy’s. This provides exclusivity for Macy’s and gives them the opportunity to brand themselves with this opportunity, as well as provide additional marketing and advertising avenues for the new fragrance. This marketing strategy also shows loyalty through Beyonce’s brand name. It shows that she is not out just to make millions upon millions of dollars, but to also build partnerships and trust through both her buyers and her fans.

Many celebrities have launched perfumes in the past, but no one has seen fragrance numbers like Beyonce’s Heat has. According to figures from research firm NPD group, in 2008, the average celebrity fragrance generated only $2.5 million in the first year. As I stated earlier, Heat generated over $3 million in just the first month!

I will be adding to this number in the next week because as I look over at my vanity table my Heat bottle is almost empty. I will soon be out to purchase bottle number three! If you haven’t had the opportunity to smell it go out to Macy’s and take a whiff. It’s mixture of floral and vanilla is to die for.

For the last couple of weeks in class we have been discussing product and artist management. Since I currently work in radio, I began to think of radio as a product in its own as well as how and why it has seen so many changes throughout the past twenty to thirty years. I came across a video on YouTube that hosts a handful of radio professionals giving their opinion on the current status of the radio industry, and responding to the title of the video, which is “Why The Radio and Music Industry Sucks Nowadays.” I have worked in radio for only 8 short months, but in this time I have become quite fond of my job and the work that I put in everyday. The stories that I have heard from veteran radio executives have had me wishing that I was around for what everyone seems to call the “good ‘ole days.” I have heard stories of account managers making well over six figures by hardly having to even work for the money. Granted, the fall of the radio industry is heavily dependent on the fall of the economy and the lack of funds that businesses now have to invest in advertising, but I’m sure I would have had a great time back in the late ‘70s and early ‘80s when everyone had the big bucks to spend.

Ok, back to the video. I found it very interesting that some of the main points that were brought up in the video directly parallel some of the things that I have heard people recently say about why the radio industry is not what it used to be. Three main points that I took from the video are as follows:

As you can see, besides our economy being in a not so great state right now, the radio and music industry has several other factors working against it. I know that I started working in radio because I have a love and desire for music. Hopefully, more people will start to work in this industry for the same reasons as me, and not just for a paycheck; only time will tell. The question I will continue to ask myself and my co-workers is ….WHAT CAN WE DO TO CHANGE IT?!!??! I want to do two things while building my career path. 1) Make a LOT of money 2) Have Fun While Doing It!