3.5 Cross Industry Entertainment Part 1

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From the course by Yonsei University

International Entertainment and Sports Marketing

113 ratings

Yonsei University

International Entertainment and Sports Marketing

113 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 Industry Growth.

This will be the agenda.

I'll start by talking about Cross Industry implications.

I'll talk about Entertainment Importing.

I'll talk about Entertainment Exporting and

I'll finally finish it off with some key examples.

So, let's get started.

Let us remember what entertainment means.

Entertainment was defined as to hold among,

so that get's at the very nature of entertainment.

And so if we are growing, we want to import

from other industries the ability to enhance the holding.

To enhance the ability to expand our attention,

so that will be the gist of how entertainment can grow.

But on the flip side, entertainment can help other industries.

Because I think by definition, other industries are not as entertaining.

We can help other industries by exporting the fun fact, the amusement fact.

By exporting the engagement fact.

So, this relationship can be very symbiotic.

It can work in both ways.

We can import or we can also export.

So, how can we import?

Well, as you can see, there is no dearth of examples.

So, we can enhanced the experience with technology.

And what's great about the entertainment business is

that more technologies are being developed not just 3D,

which we've had around forever, but

especially virtual reality and augmented reality.

And over the top TV as we've talked about before,

which we can access now or easier than ever before.

You can use social media.

So I like to watch movies by myself, but

I do want to tweet with my friends and get their comments.

So, the whole month doesn't have to be just a big audience.

It could be just one person.

But through social media, I can still simulate a much larger one.

And even in things like cars,

the entertainment component is becoming more and more important.

In the future when we have driverless cars, even more so.

And with content, it's somewhat like the Olympics where you want it to be faster,

higher and stronger.

And with content, there are two you want to be better.

You want to be in terms of the quality, you want to be faster.

You want to be everywhere.

So content is king in the entertainment and

the delivery of it, the duration of it,

specially with things like big data is becoming more and more important.

And the analysis being done in marketing, such as on customer journey.

I think that two is important in terms of enhancing the experience

by knowing where entertainment begins and ends.

So for example, in flight entertainment.

Why does it only have to be in flight?

Maybe when you're waiting in the lounge,

there are two you want to have personalized entertainment.

And lastly, there are many business concepts such as marketing to

the bottom of the pyramid that we can emulate in entertainment.

By trying to make entertainment a much more accessible,

even to people in countries where their purchasing power is low.

Some example.

Well, there is yours truly.

So just the other day, I tried to experience

first hand how real life like virtual reality is.

So the virtual part of VR is becoming less and less, and it's becoming more real.

So again, my experience was kind of limited.

But as a filmmaker, my ambition is to one day and

I hope that one day is someday soon, make a virtual reality movie.

So, it does really enhance the life like quality of that entertainment experience.

Here's another example and this is one concerning augmented reality.

So Six Flags and their rollercoasters have

augmented it with a different landscape, and

alien survival attacks survival game imaging.

So you get that same feel when you ride a rollercoaster, but

the difference here is that you're being attacked by alien space ships and so on.

So, the sensory experience is maximized.

It becomes more fantastic than you experienced before.

Entertainment is not just limited to one delivery system, one channel, one media.

So, there's a very famous movie called the Lion King and

it's a prime example of just having one

source from multi-channels or multi-delivery media.

So, it started out as just a movie.

Ultimately, it was expanded into

other vehicles such as a theme park ride at Disneyland.

They licensed a ton of merchandise and I should know,

because my son was a big Lion King fan so

he had the Lion King plastered everywhere in his room.

He was wearing Lion King pajamas.

His bed had Lion King sheets.

So, he lived in this Lion King world with all this merchandise.

Of course, they made videos of the movie.

And they, of course, had music composed by Elton John.

There were book on it.

There were games on it and I think even more so than the movie,

the Lion King now lives on through the Lion King the musical.

So as we can see here, if you have good content, you can leverage that.

You can multiply the sale that can be generated

by having more than just one entertainment vehicle.

So, this is what can be truly labeled cross entertainment.

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