As we start the year off, partnerships and collaborations between brands continues to be a popular strategy, and for good reason: they’re proving effective at powering growth, innovation, and relevance. There is safety in numbers.
Here’s why partnerships pack a punch:
- Fan Passion: Tap into new audiences and expand your customer base by merging your loyal fans with your partner’s. It’s a two-way street to brand discovery!
- Innovation Fusion: Think unexpected pairings that surprise and delight consumers, leading to unique products, campaigns, or experiences.
- Image Boost: Boost your brand image by associating with another high affinity partner. Partnerships can enhance your trustworthiness and legitimacy, especially if you align with brands sharing your values.
Using data from E-Score Brand, we take a closer look at some recent partnerships as well as offer an alternative use-case that showcases the database as a tool for discovering potential brand partners.
TOPIC 1: Bundle Season: Streamers Look to Partner Up
As the competition in the streaming industry grows, providers are increasingly exploring new ways to achieve profitability. This has led to streamers seeking partnerships with other non-entertainment service providers for bundling opportunities (such as Netflix/Max x Verizon, Spotify x Instacart+, Paramount+ x Walmart+, etc.).
Verizon myPlan customers can now access ad-supported streaming from both Netflix and Max for only $10 a month (over 40% in savings). This collaboration unlocks new avenues to attract a broader audience and pave the way towards sustainable profitability.
Using E-Score Brand, we can see the value of Netflix and Max as partners for Verizon among consumers 18-49.
- Among the key 18-49 consumer demo, both Netflix and Max post above average scores across numerous pain points for the telecom giant. Both streamers are:
- High affinity brands: Scoring above the Streaming Video Category Average by double-digits for Appeal, Brand Fandom, and Halo Effect (popular w/ people I know).
- Have desirable content: Scoring above the Streaming Video Category Average for metrics such as Brand Consideration, Would try new products/services, Better than competitors, and Good Value.
TOPIC 2: Hot Franchise – Gen Z Helps Anime Go Mainstream
The NBA has been very proactive in engaging with younger audiences, establishing itself as a significant player in pop culture with iconic player endorsements, viral moments from collaborations with music, fashion, and entertainment.
Collaborating with the hottest entertainment franchises is something the NBA does on a regular basis due to their built-in dedicated fan bases. Thanks to massive popularity among Gen Z, Anime is one franchise category that is showing huge growth potential (expected market size value of USD 62.7 Billion by 2032). The NBA joined a long list of major brands (Nike, Gucci, Uniqlo, Adidas, Crocs, etc.) marketing collaborations with franchises such as One Piece, My Hero Academia, Attack on Titan, Dragon Ball Z, etc.
Using E-Score Brand, we explore the NBA x My Hero Academia collaboration to see what strengths both brands bring among Gen Z consumers.
Partnership Synergy:
- For this collaboration, sports apparel brand Hyperfly created a limited-edition apparel collection featuring NBA teams and the My Hero Academia franchise. Anime also has serious star power among its fan base including, NBA stars Joel Embiid and Zion Williamson, Keanu Reeves, Michael B. Jordan, Leonardo DiCaprio, Megan Thee Stallion, and Ariana Grande to name a few.
- This unique partnership shows signs of benefiting both brands, with the NBA continuing to align with brands that are relevant, buzzworthy, cool, and exciting and My Hero Academia diving further into the mainstream through the NBA’s robust level of brand recognition and strong entertainment value.
TOPIC 3: Potential Brand Partners – 20 Brands That Resonate with Consumers Under 35
The luxury market has been successful by actively seeking collaborations with other types of brands with high affinity among younger consumers (i.e., Louis Vuitton x LEGO, Christian Louboutin x Marvel, Miu Miu x New Balance, etc.). The combination of aligning with youth-centric partners for limited edition drops maintains the luxury market’s desire for exclusivity while also creating a unique synergy that resonates with the values, aspirations, and lifestyles of the younger generation.
E-Score Brand can be a useful tool as a source of discovery for potential brand partners who hit the target for specific KPIs and qualities. For this example, we identified 20 brands with strong potential as youth-centric partners for any brand looking for relevance and appeal among younger consumers (under 35). Each potential partner exceeds the brand average across 6 key metrics: Fandom, Brand Consideration, Cool, Influential, Trend-Setter, Unique.
- Streetwear brands have become a popular partner for many brands looking to engage with younger consumers. Nike and New Balance are two that made the ranking by exceeding the brand average across all 6 key metrics.
- Nike’s strengths are a passionate fan base, strong brand consideration, and being perceived as cool, influential, and a trend-setter (all exceed the average by double-digits). Nike is already known for collaborations with luxury brands such as Tiffany & Co., Swarovski, and Dior to name a few.
- New Balance’s strengths are strong brand consideration and being perceived as a trend-setter (both exceed the average by double-digits). Formerly known as the “dad shoe” brand, New Balance has enjoyed a resurgence as a fashion-forward brand that collaborates with luxury brands such as Comme des Garcons, Ganni, and Prada.
Brand partnerships continue to offer a vital strategy for growth in the new year. Thoughtfully executed, these collaborations have the potential to transcend short-term gains, evolving into catalysts for sustained, long-term growth and market dominance. Insights from E-Score Brand not only shed light on recent partnerships but also serves as a valuable tool for identifying potential brand collaborators.
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