Music mogul 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.
1. Be Bold.
The music industry announced an increase in global sales last year for the first time since 1999. The incremental increase of 0.3 percent and total revenue of $16.5 billion was still much lower than the $38 billion that the industry raked in at its peak more than 10 years ago.