Festive Fortunes: Who is cashing in on the festivities

As billions of people across the globe await with glee on the festive period given that the holiday season is a time for joy and celebration, thousands more will be laughing all the way to the bank. From event organisers, performers, club owners, car hires, Airbnb owners, the list is endless.

All interconnected the glitterati lifestyle brings to life the festivities and the spirit of merry making. Albeit the dire financial straits that we find ourselves in, once the purse is let loose, the enchanting period begins and people must have a good time.

According to various market studies, consumers tend to spend significantly more during festivals compared to other times of the year. This high demand in consumer expenditure creates a demand in celebrations and it keeps creatives busy.

Artists who rarely sell out their work will flourish in this season because a lot of people will be buying decorations for their homes and even the events that will be happening all over from the city to the rural homes.

Talent management

For entertainers, sound management is key for success especially on the financial front. From negotiating contracts with shrewdness to squeezing an extra zero on pay cheques, to helping in-house talents acquire financial literacy and discipline, talent management is an important cog in the system. With gigs on an upsurge, having someone to take care of financial matters is key.

“Just like in any organisation, we maintain an open and honest discussions with our talents about their contracts, payment structures, and any additional benefits. This approach helps manage expectations and builds trust. We prioritise making prompt and accurate payments. During the festive season, when financial demands often increase, I ensure that all payments are made on time to provide our talents with peace of mind,” says Dennis Njenga, Co-Founder and Managing Director Kaka Empire Music label and recording company. It boasts amongst it ranks the likes of King Kaka, Femi One, Jadi, DJ JR and the recent addition, media personality and events MC Azeezah Hashim.

Dennis emphasises on the need to look beyond immediate remuneration, and focus on long-term growth. This includes negotiating fair rates, securing lucrative gigs, and exploring new revenue streams to ensure financial stability for his talents.

For event organisers, it is time to make a kill as from corporate to social parties, their services are on a high demand.

“To maximise profits and attendance during the holiday season, event organisers should focus on aligning their offerings with the spirit of the season. This includes creating events that evoke feelings of nostalgia, joy, and community,” says Joshua Bosire, popularly known in event circles as JB.

“Early planning and leveraging effective marketing channels like social media, email newsletters, and partnerships with local businesses can help drive awareness and build excitement. Offering early bird ticket sales, group discounts, and exclusive packages can create urgency and drive ticket sales. Additionally, offering unique experiences such as themed events or VIP experiences can attract attendees looking for something special during this festive time,” he adds.

Event partnerships

Partnerships and sponsorships not only provide additional revenue streams but also expand event reach and credibility. Sponsors can bring added value through co-branding opportunities, access to their customer base, and enhanced event experiences.

“To effectively secure these collaborations, as event organizers we approach brands or companies that align with the event’s values and target audience. It’s essential to present a compelling proposal that outlines the mutual benefits of the partnership, such as exposure to a specific demographic, increased brand visibility, or social media promotion. Building strong relationships with potential sponsors and offering creative sponsorship packages tailored to their needs can go a long way in securing successful partnerships,” says JB.

For event organisers, registration, logistics, and planning demands often clash with ensuring a profitable return.

Tight itinerary

Recently netizens created a buzz when they compared different schedules for performers having with popular disk jockey DJ Joe Mfalme sharing his busy itinerary which sees him entertain masses in masse with only a sporadic rests in between, amounting to five days. He picks it up in January 1st and the party never stops as he signs off with an Australian tour at the end of the month.

Prince Indah has also shared on his socials his schedule which sees him perform in 24 venues across the country.

All these are a reason why in the next few weeks even the younger disc jockeys that are coming up will definitely smile all the way to the bank.

“Look at the festivals for instance, most festival artistic directors start their planning by securing their headliners. Then they start to fill the other slots with up-and-coming talent, often including musicians who are just starting to gain a following and who are actively promoting their new projects. A common part of festival culture is that people in the audience will discover new artists and follow projects they didn’t previously know about,” says JT The Drone.

“There is more to what meets the eye, as a disc jockey the burden of bookings is crazy. Personally I am shifting between club bookings at night to private events and additionally company end of year parties for the dollar. This is extremely exhausting and as a disc jockey the run is crazy during the festive season and when the year comes to an end the consumer spending spree comes to a halt. There is a need to balance this shift with family and a normal life but for me the balance is in the gym where I give my body the twist of this all,” he adds.

During the festive season, families and organizations indulge lavishly in sumptuous meals, whether they choose to dine at exquisite restaurants or opt for elegant catering in the comfort of their homes. From cake mixing events, Christmas Tree lighting to all manners of attractive social events, marketers will burn midnight oil in making sure that the merry making continues.

Grocery stores flourish during this time, as discerning consumers seek out premium ingredients, delightful treats, and fine spirits to elevate their celebrations.

Cultural and Social Traditions

The holiday season is rich with time-honored customs, including family reunions, festive celebrations, and cultural festivities. These traditions spark a desire for entertainment, leading to an increased interest in movies, music, theatrical performances, and seasonal shows.

Special Releases

 Many entertainment industries, particularly film, television, and music, release high-profile content during the holidays. Major movie studios often release blockbuster films timed for holiday viewing, and music artists release holiday-themed albums or singles. Many avid music listeners will be waiting for the yearly Spotify wrap and global music report and compare notes across various social media platforms.