My article, “3 ‘Magna Carta Holy Grail’ Marketing Lessons from Jay Z,” was published Friday, July 19 in YFS Magazine (Young, Fabulous and Self-Employed), a highly popular digital magazine for startups, small business news and entrepreneurial culture.
Music mogul Shawn Carter aka Jay Z announced the release of his new album, Magna Carta Holy Grail, in a three-minute Samsung commercial during game 5 of the NBA Finals. The ad showed Jay Z collaborating with Hip-Hop’s most successful producers Rick Rubin, Pharell Williams, Swizz Beatz and Timbaland about how to reinvent your empire for today’s digital world, yet stay true to who you are.
Running a prime-time TV commercial is nothing too exciting for the rich and famous. But look at the bigger marketing moves he made. Jay Z’s album wasn’t set for release until July 4th, but prior to the launch he had already sold a million copies. How?
One genius marketing move: According to the Wall Street Journal, Samsung purchased 1 million copies of his album at $5 each, so he made $5 million dollars for an album that hadn’t even been released yet.
“Jay Z’s partnership with Samsung for his new album, “Magna Carta Holy Grail,” is another sign of how musicians are finding new ways to push, sell and promote their music, and how the multiplatinum performer — who famously rapped “I’m not a businessman, I’m a business, man” — continues to leverage his enduring popularity into a successful brand.”
3 Marketing Lessons Learned from Jay Z
Jay Z changed the music marketing game with this one deal. While small business owners may not have millions of dollars lying around, we can all learn a little something – three smart marketing lessons to be exact – from Jay Z.
Click here to read the full article published by YFS Magazine.
What’s the Word: Small business owners don’t need to be rich and famous to cash in on innovation. You can make smart marketing moves whether you have a couple of dollars or a couple million dollars.
LL Cool J weighed in on Jay Z’s deal with Samsung and he didn’t see it as such a “brilliant” move. Would you call Jay Z a brilliant marketing genius for this move or did he try to manipulate the music industry?