Marketing Strategy
Primary goal for project:
Increase awareness & consumption of current artists’ music in the US
Attract musicians
Secondary goals for project:
Increase fandom among Colombians
Through increasing awareness of the brand in the US, eventually reach musicians in the US
1)Look into market sizing: merengue, salsa, reggaeton
In the year 2004, 2.1 million non hispanic listeners of latin music, assuming consistent population growth, you would be looking at about 3 million non hispanic listeners today. Younger (18 to 24, more likely to be females.
Assuming they are only 20% of the market, honestly, i feel like 10% is a much better estimate, we can expect a market size of about 15 to 30 million latin music listeners on the radio on a regular basis. Most of these are likely to stream music as well, so the market is there.
2) Case Studies for companies that have been successful
Fania and the rebirth of Salsa as a Cultural Institution
Take a look at the Punk Rock/EDM/etc evolution – It expanded through small festivals of unknown artists. Looking around, there is an opportunity to create a Merengue Festival series in the US. There are currently none for fans to enjoy dancing and the spirit of this Latin music.
gloria estefan, shakira
3) Look @ largest Hispanic populations + coastal cities
LA – 5.8M
NYC – 4.3M
Houston, Riverside, Chicago, Dallas, Miami, Phoenix, San Fran, San Antonio
Other to think about: El Paso, Atlanta, DC
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