Strategic Partnerships
The world of business has exploded over the past 18 months, this is courtesy of the Global Covid-19 pandemic. Over 40% of business across North America has experienced closures and/or interruptions because of this. The implications of COVID -19 have forced millions of businesses to reinvent the way they connect with their consumers (direct-to-consumer). As for the future of sustainability, businesses are looking to scale, expand their reach, and further growth and development. One common option that is exercised in the world of business is Strategic Partnerships. Strategic Partnerships have been initiated between business entities, especially during the outbreak of COVID- 19.
We will highlight the Music, entertainment, and Sports businesses that have forged a unique path with their existing partnerships. The interesting thing about strategic partnerships is that it creates an intersection between influential parts of culture. Look at LeBron James for an example, in March he became a partner of the Fenway Sports Group. The TIME'S 2020 Athlete of the year has become widely celebrated for his sheer dominance of the hardwood, but his declarative stance he's shown amid the social justice campaigns. Strategic partnerships are democratizing the global marketplace while reinventing a space for athletes, entrepreneurs, and industry professions to cash in on ROI. Below we will share some of the most polarizing figures in business and the partnerships they’ve initiated.
Verzuz Partners with Triller Network
The pandemic has given birth to a new lane for Creative Artists such as Swizz Beatz and Timberland. The Grammy-Nominated producers are have created an iconic Entertainment source with the Launch of Verzuz back in March of 2020. Since its existence, Verzuz has not only democratized the digital media marketplace but has identified prominent partners along the process. Verzuz located a partnership with Apple‘s Executive member Larry Jackson. Apple’s role in the partnership, provided an elevated experience for their consumers and avid fans of the culture while giving Verzuz that stamp of Approval. Social media has opened a new lane for creatives to reach their fans with greater access to promote user-generated content from the comfort of your phone.
Photo Courtesy of Billboard
“Finally, something that the creatives own officially. By the artist for the artist with the people. ”
In March of 2021, Verzuz was reportedly acquired by Triller Network ending the partnership between Apple Music and Verzuz. According to Rolling Stone, as part of the acquisition Timberland and Swizz Beatz will become Brand Visionaries and join the management team. Following the partnership, Swizz Beatz and Timberland have become shareholders in Triller and will be giving equity to performers that participated in Verzuz. Following weeks after the Verzuz and Triller Network acquisition, Verzuz entered a one-year partnership with Peloton. Swizz Beatz and Timberland are the catalysts in the evolution of creatives.
UnitedMasters Partners with Apple
Over the past year, Apple has transcended the digital marketplace with their resurgence to prominence. From locating a key partnership with Verzuz, Apple continues to vertically integrate within the digital media space. Apple has invested $50 Million into the independent music platform, UnitedMasters founded by Steve Stoute. Since its existence, UnitedMasters stands in support of Independent Artists retaining 100% of their masters and IP while rewriting the rules to monetization on a 1-to-1 basis for the artists.
“This is the future, the fastest growing segment in the music business is independent artists. I think the industry is morphing and changing.”
Unlike the prominent record labels, UnitedMasters has created cultural proximity to some of the most polarizing names in Music. The former Music Executive spent had his first crack in the music business during the golden age of Hip-Hop, Stoute was responsible for producing Grammy-Nominated Albums for artists such as Will Smith, Nas, Foxy Brown, Mariah Carey, and Mary J. Blige. Unfortunately, the yesteryear rules of the music business have stunted the growth of some of the biggest names within the industry. With the technological advances, UnitedMasters helps artists maximize their economic and media value while equipping them with the tools needed to connect with their consumers and fans.
Future of Business World
The new regime that we’re witnessing is the creation of a new shared economy; created and owned by the culture. In the current business world where collaboration and economic growth exist, forward-thinking companies have solidified their place within the marketplace courtesy of strategic partnerships. As we continue to progress through the Covid-19 era, companies will reach new targeted consumers with the acceleration of reaching new heights. Strategic partnerships will be the difference maker between a reputable brand and a preeminent company. Whether it’s within sports, music, entertainment, fashion, technology, etc., each industry holds immense value with the opportunity to leverage off their existing partners.