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Fashion And Music - A Classic Joint Business Venture



by: argilla_educator
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The fashion and music industries have always had many common components and invariably a new movement in the recording business has resulted in the development of new fashion styles for the fans. I still remember when the Beatles were hitting the American shores for the first time, how everyone just "had to have" a John Lennon Beatle Hat. Tie-Dye and low riders are other examples of fashions that had their roots in the music industry. Having said this, it does seem a bit surprising that there has not been a steady flood of ventures issuing forth from these two strongly related industries. Perhaps, then, what was announced last Wednesday will be a sign of things to come. On April 16th, Tommy Hilfiger(a U.S. fashion company) and Sony BMG(one of the largest recording companies in the world today), announced that they were going to start a venture that would include a fashion and music online television/website, the latest sign that the fashion and music industries were moving ever closer in the joint promotion arena. TommyTV, as the new venture will be called, will present live performances by both established and new artists sponsored by Tommy Hilfiger and will include exclusive interviews and backstage footage. Hilfiger also indicated that he envisioned TommyTV hosting regular competitions where young, new artists could showcase their talents. He said that these competitions would offer a venue to the young musicians that they ordinarily would not have and could be a real stepping stone to a successful career. And what is in it for the new partners you ask? For Tommy Hilfiger, who has built a strong, worldwide brand covering thousands of products on a hip and savvy image presentation to U.S. teenagers, he has said that there will be a strong connection between the show and the website. Hilfiger fashions will be prominently displayed and a person will easily and spontaneously be able to purchase fashion products from the site while watching the concerts. For Sony BMG, the hope is that they will catch lightning in a bottle with one or more of the popular artists that will be on display, said Sony BMG Chief Executive Maarten Steinkam. And, while there are no plans to charge for music downloads at the present time, it seems inevitable that this will happen sooner rather than later. While it would seem obvious that these types of joint ventures would be a regular occurrence, some people feel that the music industry really has no choice; what with music sales being down over 10% last year and illegal downloads becoming more and more of a problem. The industry is standing at the threshold of a new era and they must be willing to explore new and promising strategies. This joint venture and strategic planning between Tommy Hilfiger and Sony BMG is an example of two companies trying to develop a strategy that is a "win-win" for both entities with the hope that this will lead to bigger and better things down the road.

About the Author

The auther is a dedicated follower of fashion and has several websites which explore exciting and new fashion creations by designer clothing and accessory companies such as Coach and Kate Spade. You can visit these at http://www.coach-fashions.com and http://www.katespadecollection.com

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Article URL : Fashion And Music - A Classic Joint Business Venture
Article Category : Strategic Planning
Article Author : argilla_educator



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