Transcript
A (0:00)
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B (0:26)
Once upon a time, concert merch was something you bought on your way out of the venue. A Tor T shirt, a poster, maybe a hoodie if it was cold outside. But these days, merch is a whole lot more than a souvenir. From limited edition drops at sold out arena tours to pop up shots and shops and online exclusives, concert merch has become a major revenue stream for artists and a status symbol for fans. And then there's a second life of merch. Vintage tour teas and rare pieces that can sell for hundreds, even thousands of dollars on the resale market. Last year, a Vint in Bangkok posted a clip on Instagram of a buyer who paid $27,000 for a faded NAS shirt with the lyrics from if I Ruled the World. To help us understand what makes a simple piece of merch iconic and how the business of concert merch has changed, music industry strategist and consultant Tatiana Siriano. Hi, Tatiana.
C (1:24)
Hi. How's it going?
B (1:25)
It's going. I'm going well. She was a former business reporter at Billboard and she's now the vice president of an entertainment market company. And we are also Jo Nick Adler, the co founder of Mintage, a digital fashion brand built around vintage clothing. Hey, Nick.
D (1:40)
Hey.
B (1:41)
Morning listeners. Get in on this conversation. Tell us about that T shirt, hoodie or poster that you are most proud of. What concert was it? How much did you pay for it? And how long have you held on to it? Our phone number is 2124-3396-9221-2433. WNYC. So, Tatiana, concert merch has always been a way for a band to make, make a buck. Right. Why did concert merch shift from a souvenir concert goer, something you would pick up and take home, into a serious stream of revenue?
C (2:14)
Yeah, it's so interesting because I actually think that the impetus for this was really the pandemic, which is interesting because it's, it's a time when artists weren't touring at all. And of course now, you know, the boom in merchandise is so tied to the live music boom. But really what happened during that time was, you know, so many artists these days earn the majority of their revenue through live music. And at that Time, obviously, they couldn't tour. They lost this really critical revenue source, and so many of them really doubled down on merchandise to try and sort of plug that gap. And I think, you know, that was sort of when everyone started to think more about, well, what types of merch can we do that we haven't done before? And because you no longer had to carry all this stuff on the road, people were getting really creative with, like, candles and jewelry and, you know, big things, small things, figurines. And I think that really led to this explosion in terms of what is possible, in what merch can be and this view that it can really be anything. And, of course, now that we're back on the road and, you know, there's shows going on all the time and huge demand for it that has just sort of coalesced into this really massive market where, as you said, you can go to a show now and not just get a plain T shirt with the band's name plastered on it, but you can walk away with something much more unique and is a sort of a status symbol and a thing to say that, you know, I was there.
