Sustainable business models for reality shows

Music reality shows are popular for their mouthwatering benefits for participants and eventual winners. These benefits ultimately keep the interest in the shows alive, serving as the recipe for good ratings in a highly competitive era of reality shows.

In the past, participants at various levels of music talent shows have joyfully walked home with cash prizes, brand new cars, new apartments, and in many cases, recording contracts.

But for the eye-catching monetary and property reward, critics have pointed out that music reality shows barely provide enough for participants in terms of career elevation, hence one of the reasons only a handful go on to attain global stardom.

Perhaps what these music reality shows have so far lacked is a strategic career development and business models that could form a catalyst for the transformation of the raw talent into complete packages.

One of such career development and business models that have not been fully explored by organisers of music talent shows is partnerships. Strategic partnerships with reputable organisations, brands and even top-class individuals will in no small measure add an extra spice to the business models adopted by organisers and this will deliberately leave the contestants with a better chance at success.

Simply put, strategic partnerships are a prerequisite for the sustainable success of not just music talent shows, but any talent show at that. Having been a frontrunner in talent discovery and development in Africa over the years, MTN is creating an encouraging rule book for music talent shows with its latest attempt at youth empowerment, Y’ello Star.

In addition to the attractive monetary and property package for the winner, the Y’ello Star winner will walk home with 5-million-naira cash prize, a brand-new car, and a fully furnished apartment with a home recording studio.

All contestants at the maiden edition of the music talent show will also have a rare opportunity to learn the art and business of music, courtesy of partnerships with institutions like the Berklee College of Music, the Henley Business School and Afrinolly Creative Hub.

These partnerships are reflective of MTN’s desire to create a platform for talented individuals to be seen and heard built, whilst also building capacity in the music industry beyond the competition. Henley Business School describes participants in its programmes as having an opportunity to be “enriched by up-to-date knowledge and research, interactive teaching and study projects.”

Henley Business School’s contributions to the development of the contestants will include providing a series of entrepreneurship master classes and six months of extensive coaching to help equip them with entrepreneurial skills to have a successful career in the creative industry. With Henley’s program certification and induction, MTN Y’ello Star contestants will be exposed to a global network of professionals and business leaders, with the college boasting over 80,000 alumni in 160 countries.

Indeed, the possibilities of deliberate partnerships during talent shows abound. As more talent shows emerge to unearth the next generation of music superstars, MTN Y’ello Star will raise its head high to set a standard for sustainable models through its peerless partnership with some of the world’s finest organisations. And it is only right that others follow.

Paul Adewale,

Ikeja, Lagos

Related content you may like

Be the first to comment