Hip-Hop and Strategic Marketing Converge
LONG have I waited for the place where urban music, advertising and artist relations converge.
With the creation of Translation Advertising, the brainchild of Hip-hop and business mogul Jay-Z, 38, and entrepreneur Steve Stoute, 37, this fantasy is finally realized.
Translation Advertising will be a part of Translation Consultation and Brand Imaging which last year Stoute sold to Interpublic, the third largest agency company, for an estimated 15 million.
Interpublic has a 49 percent stake in Translation Advertising while Stoute and Jay-Z maintain 51 percent.
According to a NY Times article, the Interpublic venture is indicative of the intensifying interest on Madison Avenue in minority consumers which account for $2 TRILLION in consumer buying power.
Translation is expected to announce their first clients soon and my guess is that the roster will include more progressive companies such as Apple or GEICO.
A NEW AGE IN HIP-HOP: With the music industry in a time of restructure and labels standing to lose millions, product endorsements will soon become the bread-and-butter for artists and their labels.
The ideal business structure for Translation Advertising is to facilitate the evolution of the Hip-hop music and culture and to progress its immense influence on the mainstream.
Ideally, Translation will allow big business a better understanding of the urban mindset and will provide insight on how to market to an urban audience with less of a cultural disconnect.
Here are Jay-Z’s thoughts:
Article Tags: Beneath the Brand | Hip-Hop Culture | Kelliann McDonald | Music Industry | Product Endorsements | Record Labels | Translation Advertising
Filed under: Advertising, Industry News, Marketing Trends, Miscellaneous, Music Marketing, Strategy
How do you feel about this new age? I’d be curious what you think about corporate sponsorship and the literal “branding” of artists…is this good for hip hop, or music in general? I personally have doubts but it reads like you don’t — I’m wondering why it excites you.
Justin, thanks for your response!
I think this is the beginning of the inevitable growth and evolution of Hip-Hop business. I for one am not afraid of change… in fact, change in itself excites me. After all, the only option is to progress with the times or become stale and stagnant.
This “new age” might not mean much for the artistry of the music, but it isn’t meant to. This is the progression of the business side of things.
As you know, without the business side, the artistry lacks the exposure it needs to create any wide spread influence. Isn’t that what Hip-Hop is about - sharing one’s experiences and view of the world?
Real artistry will always prevail. I’m not afraid that the business side will kill it.