Image and Personality Merchandising
Did you know the Spice Girls made more money selling their spin-off memorabilia than the records they sold? So, What is IMAGE OR PERSONALITY merchandising?
It is the practice of using the name and/or image of a popular character (whether real or fictional). However, least known is that it is a multi-million pound business activity, that very few Artist are exposed to.
In the context of music, we focus on the use of name and/or image or performance of an Artist.
How? The name and/or image can be attached to printed objects, such as posters, t-shirts and other objects sold at concerts and other outlines, even online but only with the permission of the rights holder, which you are. You have the right to decide who uses your name and image and how.
This is what we call an exclusive right, you have the right to exclude others from exploiting your name and likeness. However, a third parties can request to use your name and image but need to obtain a licence which would strictly specify the remit of use to use your name and/or image to market their own products as a marketing strategy.
Otherwise you can simply use your own name and/or image, performances* for creating your own memorabilia and whilst creating your lifetime legacy portfolio.*Some performances are owned by the Promoters, you will need to consult a Lawyer to ascertain whether or not you hold any rights pertaining thereto before you commence to exploit them.
How does this tie into the new technological advances of social and digital media?
A great example would be that of Usain Bolt and his numerous endorsements. Usain Bolt is now a universal household brand. This brand can either (a) endorse others or can be (b) be endorsed by others.
Now do you want to know the figures?
Usain Bolt’s Net worth is estimated in the region of $60 million USD.
$30 million came in the form of endorsements. His face has graced ads and packaging for Visa, Gatorade, Hublot, Virgin Media, All Nippon Airways and others. He appears in Temple Run 2, a popular mobile game. His biggest endorsement, with Puma, brings in $10 million a year, Reuters reported in 2013. Bolt first signed with the sportswear company as a teenager, and under the current deal he receives $10 million per year through the 2017 world championships in London, if he competes. Once he retires, he will continue to receive $4 million per year as a brand ambassador, according to Reuters’ source.
Do you need to hear any more – other than you are ready to create your brand?