Art Sponsorship: What Brands Need to Know
- October 3, 2023
- SponsorPulse Staff
In the sponsorship space—art sponsorship is an often underestimated avenue of exploration. While it may not boast the same colossal audience numbers as sports sponsorship, the world of art sponsorship offers a unique and profound opportunity for brands seeking to connect with a highly passionate and engaged audience. Allow us to shed some light on the benefits of investing in the creative realm:
Vogue x The Met Gala
The Met Gala isn't merely a parade of Hollywood royalty donning extravagant fashion; it's also a vital fundraiser for the Metropolitan Museum of Art's Costume Institute. Organized by Vogue, the event has become a masterclass in monetization. After the Gala's cancellation in 2020 and the impressive $16.4 million generated in 2021, it's now one of the year's most significant events, even as traditional fashion magazine advertising faces digital challenges.
The highest opportunity for monetization is the red carpet, where Vogue started selling advertising space in 2015. The costs for this prime real estate have risen over the years, with the previous year's two livestream ad spaces each fetching a whopping $1 million. When you add in the amplification by influencers and celebrities on Instagram, which is also an event sponsor, the price tag can soar even higher. Interestingly, among Instagram users, 42% engaged with Vogue in the past year—and we don’t think that’s an accident. The brand is iconic, with 36% of Americans engaged, 40% of whom do so on a weekly basis.
With this in mind, it’s unsurprising that Vogue's liveblog is another profit source, offering real-time content and a voting platform for the public to award their favorite outfits. Ad space here is premium-priced. But the high costs are justified by the returns. In past years, the Met Gala's red carpet generated a media value of $543 million, surpassing even the Super Bowl. The live broadcast drew 16.5 million viewers, with an additional 8.2 million views on post-event content in the following three days.
AMEX x Hamilton
Sponsoring Broadway shows offers brands a unique and powerful opportunity to immerse themselves in the captivating world of live theater. The efficacy of Broadway sponsorships lies in their ability to forge emotional connections with audiences. In fact, within the art world, Broadway musicals have the highest SponsorPulse opportunity score, with 38% of Americans engaged, 33% on a weekly basis.
Theatergoers often form deep attachments to the shows they see, and when a brand aligns itself with a beloved production, it can tap into the enthusiasm and passion of the theater community. Not to mention, the social media buzz generated by theater enthusiasts, combined with the show's own promotional efforts, can amplify a brand's message to a broader audience.
In essence, Broadway sponsorships not only offer a touch of glamor and cultural cachet but also a powerful means of engaging with a dedicated and emotionally invested fanbase. Beyond exclusive ticket access and special seating arrangements for cardmembers, brand sponsors can also purchase various assets to maximize their impact—think: prominent logo placement in playbills, pre-show and intermission promotions, and even naming rights to specific theater spaces.
Not convinced? The success story of American Express's partnership with the Broadway sensation 'Hamilton' serves as a shining example. AMEX cardmembers, of whom 45% engaged with Broadway in the last year, had exclusive access to pre-sale tickets and special seating arrangements. Additionally, American Express used its marketing prowess to promote the show, creating buzz and excitement around the production. This sponsorship not only enhanced the brand's reputation for offering unique experiences to its customers, but also aligned AMEX with one of the most acclaimed and popular musicals of its time.
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