Professor Jamie Anderson shared statistics showing Lady Gaga's popularity and commercial success as a musical artist, including averaging over 85 million YouTube views per month, 200 concerts attended by 2.5 million people that grossed $227.4 million, and selling 23 million albums and 91 million singles. A quote from Troy Carter highlighted how artists now have direct relationships with fans through analytics about what is trending by artist, genre, and country.
27. “I can sit down with the analytics guy from Spotify,
and he shows me what is trending with fans by
artist, genre and country…We've never had this
kind of direct relationship with an audience.”
Troy Carter
A recent consumer survey in UK showed that people’s brand recall of an experience is 60%, while for newspapers only 30% and for TV almost as low as 20%. As more companies start to understand the importance of producing cultural capital, authentic brand experiences are becoming increasingly important in order for brands to connect deeper with their customers and get the desired customer attention. To be effective, the experience of a brand has to be rooted in the story the company tells, and appeal to as many of the human senses – i.e. sight, hearing, touch, smell and taste – as possible, and the more meaningful the experience is, the more cultural capital will be associated with it.