‘If you get involved in a fandom, it has to be long term’: Why commitment is important for brands tapping into Australia’s $4.3bn fan industry
Brands have an opportunity to tap into an estimated $4.3bn fan industry in Australia, but in doing so they need to satisfy three core elements to prove their worth to fans.
According to a study conducted by Fifty Five 5 and Nine’s marketing solutions division Powered, fans expect brands to exhibit participation, investment and dedication in a fandom, as well as alignment of the core values between the two entities.
I’d be intrigued to understand how they qualified ‘fandom’.
I’ve always believed everyone is a nerd about something – be it cars, the footy, shoes or molecular biology. And regardless of what that is, you crave authenticity.
When shepherding the rabid global fan base of gamers at IGN, our commercial partners were always trying to crack the fan code. Often, they didn’t have the budget or stamina to commit to what it takes.
And that’s for a proven Aussie audience bigger than film and music:
https://igea.net/2020/03/the-power-of-games-by-our-ceo-ron-curry/
Hi Beau,
Great question, the findings quoted here reflect fandom defined as investing in (time & money), participating in, and being dedicated to (commit through thick and thin). Over 80% of Australians self identify as true fans, but this tighter definition reflects 28% of Aussies.
Interesting what you saw for brands trying to navigate gaming fans – definitely saw this amongst other fandoms
I’ll join in with Beau.
Let’s assume the $4.3b for the Australian “fan industry” is legit.
That would have it at around one-quarter of one percent of GDP – so, that is plausible if you use a wide definition for ‘fandom’
With around 25.6m people in Australia that equates to around $170 per annum for every man, woman, child and senior citizen. Again, plausible.
But in order to make that plausible I suspect that ‘fandom’ overlaps many other sectors such as arts, music, film, sport, theatre, travel etc.