Livespot CEO urges fundamental reforms for Nigeria’s entertainment industry model ahead of 2023 year-end celebrations
By Zion Rufus
As the calls for industry reforms gain momentum, Mrs. Deola Art Alade, the CEO of Livespot360, Nigeria’s largest creative solutions company, has called for a fundamental shift in Nigeria’s entertainment business model, buttressing the need for a major reconsideration of how concerts and large festivals are managed as the world gears up for the 2023 festive season.
With the year-end celebrations approaching, where brands align themselves with cultural phenomena like Christmas parties, music concerts, and fashion shows, Art-Alade highlighted the need to urgently address the challenges currently plaguing the industry, urging transformative measures to ensure the sustainability and success of future events.
Citing the growing trend of artists canceling concerts and its impact on concert-goers, music lovers, and industry stakeholders, she stated in an interview with MARKETING EDGE, “The current approach to concerts in Nigeria is not sustainable for concert-goers and entertainment business professionals. We need a fundamental shift in the business model. Whether artists adjust their rates or increase their fees, a lasting solution requires a re-evaluation of how these concerts are approached.”
Today, the intersection of brands and year-end festivities have become a symbiotic celebration for stakeholders and concert enthusiasts alike.
These events, which have evolved into cultural milestones, drawing people from afar and creating an environment where shared passions intertwine, offer a collective exhale—a chance for individuals to unwind, let loose, and immerse themselves in the enchanting spirit of the festive season.
For brands, they present a potent avenue for visibility and brand positioning. Strategic partnerships with these events also allow brands to associate their identity with the joy and celebration intrinsic to year-end gatherings, fostering not only brand loyalty but also creating lasting memories resonant with the collective enthusiasm of the season.
Statistics have also revealed the positive impact of music festivals and year-end celebrations on mental well-being, making these concerts not just entertainment but a healing experience. They serve as communal spaces where individuals come together to celebrate shared passions, fostering a sense of connection.
The evolving landscape of year-end celebrations presents an opportunity for stakeholders to reimagine and revitalize the approach to entertainment events, paving the way for a more robust and inclusive model in the years to come.
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