CRI 540 Chapter Notes - Chapter 3: Socalled
18 Jan 2017
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Document Summary
Does betting on a list talent make sense? looking at european soccer clubs who live and die by the same kinds of market economies that affect businesses in many other sectors of the entertainment industry. Real madrid has put a huge bet down on its strategy of signing superstars. Many of today"s biggest stars are brands in their own right and they can often be a deciding factor in a consumer"s decision making process. The mere involvement of a certain actor, musician or sports figure can affect a consumer"s choice to buy or pay attention. Superstars can also turn a consumer into a fan of the overarching brand. Creative talent in many ways are the product. the winner-take-all effect is especially strong in entertainment markets because performances of the most sought-after creative talent can be reproduced at low additional costs.
