The creation and sale of music merchandise – t-shirts, posters, and other swag – is an important revenue stream for many musicians and bands. A new report suggests its REALLY important – stating the sub-industry made $3.1 Billion in 2016, up 9.4% since the previous year.
The report was published by the Licensing Industry Merchandisers Association (LIMA) and made the case that music merch is playing a more important role in the overall fan experience.
Music Ally reports:
[LIMA’s Senior Vice President] cited time-limited merch collections for major artists including Justin Bieber, Metallica and Lady Gaga last year, which received strong support from their retail partners.
On a more grassroots level, pop-up shops (from Kanye West to independent bands and labels) have become a popular marketing tactic, while personalised merchandise – albums repackaged as CDs or vinyl for specific tours for example – is also on the rise.
In a statement to Billboard the Senior VP (Marty Brochstein) said “Music is part of the culture, and people shopping for [music related merchandise] are not limited to the music fans per se. Brick and mortar is taking the music category much more seriously.”