3.2 Cross Country Entertainment Part 1

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From the course by Yonsei University

International Entertainment and Sports Marketing

136 ratings

Yonsei University

International Entertainment and Sports Marketing

136 ratings

Course 5 of 6 in the Specialization International Marketing & Cross Industry Growth

This course will provide learners with a fundamental understanding of the characteristics and marketing strategies related to two key global industries, sports and entertainment. The growth in both industries have been fueled by their ability to innovate via CCCI, i.e. cross-country and cross-industry expansion. There will be a graded quiz that will consists of 10 questions during the first two weeks (together worth 50% of the grade) and a final quiz that contains 20 questions (worth 50% of the grade) in the third week. People who successfully complete this course will obtain the following outcomes: (1) You will learn the key characteristics of sports marketing. (2) You will learn the key characteristics of entertainment marketing. (3) You will be able to apply cross country growth strategies to your business in the sports and entertainment industry. (4) You will be able to apply cross industry growth strategies to your business in the sports and entertainment industry”. (5) You will be able to reference CCCI, i.e. cross-country and cross-industry Innovation best practices via interviews with key experts in the sports and entertainment industry such as from adidas, Audi, and YG Entertainment (home to Psy and Gangnam Style).

From the lesson

Cross Country & Cross Industry Innovation in Sports and Entertainment Marketing

In Week 3 learners will be instructed on how companies can seek growth opportunities by cross-country and cross-industry innovation using both sports or entertainment. For both sports and entertainment, they can be the source or the beneficiary of innovation ideas. We frame this as innovation exporting or innovation importing whether it is at the cross-industry level or the cross-industry level, hence CCCI. Learners interested in activating sports and entertainment in a cross country or cross industry manner can adopt the various strategies covered in the interviews with Jörg Dietzel at Audi and HyeongKeun Kang at adidas.

3.1 Cross Country Sports10:54

3.2 Cross Country Entertainment Part 17:56

3.3 Cross Country Entertainment Part 26:30

3.4 Cross Industry Sports9:42

3.5 Cross Industry Entertainment Part 18:07

3.6 Cross Industry Entertainment Part 28:17

3.7 Interview with Jörg Dietzel, Audi Part 111:01

3.8 Interview with Jörg Dietzel, Audi Part 28:38

3.9 Interview with HyeongKeun Kang, adidas Part 18:05

3.10 Interview with HyeongKeun Kang, adidas Part 211:46

Instructor's Thank You0:12

Meet the Instructors

Dae Ryun Chang
Professor of Marketing
School of Business

Welcome to the segment, Entertainment Marketing, Cross Country Growth.

This will be the agenda.

We'll talk about why entertainment by nature is international.

I'll talk about the market selection process.

I'll talk briefly about market configuration.

I'll talk about where you should land.

And I'll finally finish off with cross country growth opportunities.

So, let's get started.

Okay, why is entertainment by nature international?

I think it's because it's basic human

instinct to want to be diverted, to have fun.

But of course you need money to be entertained.

But fortunately for many entertainment businesses,

demand is growing not only in North America, but

its growing in other regions, especially here in Asia.

Because Asians now have money to spend, such as watching more movies.

Also, many of these themes dealt with in entertainment content,

like movies, like love and heroism, loyalty.

They all resonant no matter where you live.

And I think that is the appeal of entertainment.

Also, entertainment depends on media.

And therefore the global reach that you have with not only satellites but

also the Internet, and more and more with smartphones.

That's enabling content to be reached elsewhere.

And on the note of content, content now has become 24/7.

[LAUGH] So, people want to be entertained all the time.

And therefore, you need more,

not only local content, but also a global content.

Okay, so here we will talk about when you go from country 1 to country 2.

And so when you do that, there is that word again, Noon Nopi.

You have to think about whether the Noon Nopi in

country 1 matches the Noon Nopi in country 2.

And if that's the case, well, that's great.

But if it doesn't, how do you localize?

Noon Nopi to that particular region or country?

We also have to think about the universality of the appeal,

also known as the source effect of a store.

Or it could be an entertainment content.

Okay so, let's talk about two extreme examples.

There was a movie called Spotlight, which won the Academy Award for

Best Picture in 2016.

And there was another movie in the same year, called The Revenant.

So why is one movie, that even wins the Best Picture,

only throwing $60 million in box office abroad,

whereas another movie that didn't win does five times more?

So that is the kind of issue that we will deal with here.

So maybe Spotlight, as good a movie as it is,

only resonated in certain parts of the world.

Whereas The Revenant starring Leonardo DiCaprio grossed,

again, over $300 million.

So maybe the appeal of its star, or

maybe the theme of the movie, the content, was much more

universal as opposed to the more limited appeal of a movie like Spotlight.

Okay, so we do have to think about the big picture.

And I think the big message here is that you don't always have to be global.

I think for some star, for some entertainment content,

the appeal maybe more limited to just the home market.

But if you do decide that you have more global appeal,

wider appeal, we then have to think about what region you want to expand to.

And we also have to narrow it down to the country where you want to land.

So I have some things to say about market landing.

And it could be as specific as the specific target

segment that you want to start with.

So there has to be this systematic approach to how you select

your market in the entertainment industry.

And this will determine the scope of your reach.

So for some star for some movies,

as we can see here, you might have broader appeal.

Whereas for some reason might be narrower,

limited to just regions of B and C.

And in some cases, the appeal may be, again, very,

very localized, which would be the case of a region or country D.

Okay, so I mentioned that I would talk about market landing.

So I think we have to be very strategic as to where we start,

whether it's region where we start, whether it's Europe or Asia.

And more and more, Hollywood movies are actually starting here in Asia.

And in a specific country like Korea.

So there's a movie that's coming out called Captain America Civil War.

And that was started actually here in Korea before they start else where.

We can think also about maybe events where we want to showcase our movie.

And a good showcase, of course, for film or film festivals.

So there are so called premieres.

And yours truly, being a film maker,

I too have entered my movies into film festivals.

So when I do that, when a filmmaker does that,

that gives the movie great exposure to,

of course, other filmmakers.

But also distributors, who then will take that movie to other

parts of that country, or in some cases, other parts of the world.

Also it could be endorsed by a personality,

an influential personality, someone like Oprah Winfrey.

Or it could be Ellen DeGeneres.

Or it could be Conan O'Brien.

So, we will have an interview with YG,

where they talk about how Ellen Degeneres was

a very instrumental in broadening the appeal of

Gangnam Style when Psy appear on that show.

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