The richest prize fight in history, that took promoter Bob Arum five years to pull together, occurred over the weekend.
Perhaps the most impressive thing about this fight from a marketing perspective, was that Bob’s company, Top Rank, pulled out all stops to not allow this event to be streamed in any way, shape or form except through official channels.
No Youtube, Periscope or Meerkat live streaming – even live audio commentary via the web was banned.
For the first time in months, I heard several people say they were prepared to pay the $60 SD or even $100 HD cable TV fee just to see this fight.
We now live in a time where we have been trained to expect content to be online for all to download/stream as we like, accessible instantaneously from anywhere in the world.
However the law of supply and demand still applies – what happens to the value of an item when supply becomes abundant?
Top Rank knew that just because everyone else is doing it, doesn’t mean they had to as well.
Especially in an abundant digital age, making something scarce increases perceived value.
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Not many people know this but the word ‘Crisis’ in Chinese is actually made up of 2 characters, one means Danger and the other means opportunity.
Although we are going through this crisis, this current situation can force us to come up with better and more efficient processes, internal collaborations and better leaderships.
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