Swift, Barbie and FIFA: Women’s World Cup signal brand new era for creativity

New research has identified the most captivating entertainment and consumer events of 2023. Brands looking for growth in 2024 and beyond would do well to learn from their widespread popularity, a marketing expert says.

SEATTLE, WASHINGTON - JULY 22: Taylor Swift performs onstage during the Taylor Swift | The Eras Tour at Lumen Field on July 22, 2023 in Seattle, Washington. (Photo by Mat Hayward/TAS23/Getty Images for TAS Rights Management)

Taylor Swift’s Eras Tour and film, FIFA: Women’s World Cup and Barbie: The Movie were the top three entertainment or consumer events in 2023, according to a new report from brand tracking company Tracksuit.

The survey tracked awareness of major entertainment events across Australia, New Zealand, the US and Britain, as well as different age groups and genders across nearly 20,000 respondents.

The events were cultural movements that dominated headlines, social media feeds and galvanised audiences globally to drive some of the biggest marketing moments of the year.

Reflecting on 2023 and the survey’s findings, Tracksuit’s head of marketing Mikayla Hopkins said each of the events was connected; they were all women-led movements, however, they transcended age, gender and location and united audiences the world over, from the sensational rise of the Matildas at FIFA: Women’s World Cup, to the modernisation of brand ­Barbie.

“They’ve created storytelling in a way that hasn’t alienated any particular group, which is not the usual way of creating compelling brand campaigns for a certain group of people,” Ms Hopkins told The Growth Agenda.

Two out of the top three events were also closely connected to – or centred on – cinema experiences, including the film edition of Taylor Swift’s Eras Tour, and, of course, Barbie: The Movie.

Think pink

Barbie: The Movie was the most prominent event, according to the survey, captivating 20-30 per cent of respondents.

Much of the Western world turned pink in July with the release of the film starring Margot Robbie and Ryan Gosling. It broke box office records, grossing $1.4bn worldwide, with Australia commanding $86.6m.

The colour pink not only represented brand Barbie – it also represented a new narrative for the iconic doll: a narrative centred on self-knowledge and empowerment for women around the world.

But the movie’s commercial power has also been seen outside of cinemas, as an estimated 100 brands ran pink-themed collaborations in the lead-up to the film’s release.

Barbie’s maker, Mattel, also reported a 14 per cent rise in Barbie doll sales in October following the film’s release.

Barbie: The Movie leveraged the power of nostalgia to connect with people, Ms Hopkins explained, and there’s a lesson in its marketing for other brands.

“Nostalgia taps into our psyche in a way that makes us feel safe and seen. And brands that do this well are not only creating future demand, but tap into that pool of existing demand in an effective way,” she said.

Swift’s era

The survey found that across all markets, Taylor Swift’s Eras Tour commanded up to 25 per cent of audience attention. This included Swift’s live concerts, which commenced in the US in March, as well as an accompanying film of her performances that has been screened in cinemas.

Ms Hopkins said Swift’s extraordinary influence offered an example of the strength of community in binding audiences together and to brands.

“[Swift] is such a good example of how she uses community in a way that builds brand strength beyond just her music and her product. There’s a perception that she genuinely cares about her audience and her community.”

Ahead of the Australian leg of Swift’s tour next year, that sense of community is already evident in the local market.

The film of the tour has been especially popular in cinemas across the country, amassing $9m at the box office to date. Globally, the film of the tour has taken US $250m, the majority of which was clocked in the US ($178m).

This is also reflected in Tracksuit’s data: the US market was the most captivated by Swift’s world tour (and film), reaching 25 per cent of respondents.

Hoyts Group president and chief executive Damian Keogh estimates that the Eras film has attracted about 600,000 visitors to cinemas in Australia overall.

Major cultural moments like Swift’s tour and Barbie: The Movie are drawing audiences back to cinemas in high numbers.

“Even though we’re still in that post-pandemic recovery, there’s still 70 to 80 million visitations to cinema on an annual basis. So when these cultural moments hit, cinema is a great place to experience them,” he said.

Mr Keogh said the customer experience in cinemas, with large screens and quality sound, were all drawcards, but with moments like the film of Swift’s tour: “The bigger thing was the collective experience.”

FIFA forever

FIFA: Women’s World Cup became the most attended and viewed Women’s World Cup in history, as Australia’s team the Matildas captured the hearts and minds of the country.

Tracksuit’s survey found that the event captured up to 32 per cent of audience attention and was the most captivating event in Australia.

The tournament also marked the first time brands could partner with the women’s tournament alone, after the unbundling of sponsorship rights from the men’s tournament.

The sporting moment became a beacon for community spirit and outstanding women-led achievement. New and existing soccer fans were captivated by the Matildas as a team, and the individual players, which audiences rallied around to support and celebrate.

“There were many players who were not household names, and they’ve [now] created individual narratives around each key player,” Ms Hopkins said.

“That has created that relevance in a way that had groups of people – who wouldn’t usually – grab their mates and get down to the pub. That made it the most watched piece of content in Australia.”

The commercial and cultural impact was seen both on and off the pitch; the Albanese government pledged $200m in funding for women’s sport off the back of the Matildas’ success.

Audience numbers surpassed the expectations of many, but Ms Hopkins says the impact of events such as these can help bolster the case for brand-led business growth moving forward.

Brand building

“All three of these top brand moments will set the playbook for how effective marketing actually drives long-term value,” Ms Hopkins said.

“It’s really exciting to be able to pair that data with such strong brand-led activity, and I hope that gives marketers and other people – chief financial officers and the wider stakeholder group of a business – confidence that when you do build big, integrated campaigns, they truly make a difference on the bottom line.”

How will cultural events that punctuated 2023 shape how brands reach customers in 2024?

Collaborations and partnerships, like those seen associated with Barbie: The Movie and FIFA: Women’s World Cup, will continue their influence as growth-driving forces.

“The most effective way to grow and to grow fast is to work with people who solve a different problem, but who solve it for the same market,” Ms Hopkins said.

Ms Hopkins added the year ahead was likely to bring ‘brand’ marketing back into sharper focus, where businesses will need to focus on cultivating emotional connections with consumers.

A recent McKinsey report forecasts this trend will play out in the fashion industry, with 71 per cent of fashion executives planning to spend more on brand marketing in 2024 than previously, while 46 per cent said they intend to spend more on performance marketing.

Ms Hopkins, who works with chief marketing officers in four different markets, said this trend could traverse other sectors, too. “What we’re seeing great marketers do is not pull back completely on brand or performance, they understand that it’s a case of ‘bothism’ and that neither thrive in isolation,” she said.

“We have had such a massive sugar hit of $1 in equals $1.50 out in the last decade because of performance marketing channels.

“But it comes back to the whole concept of future demand. We have tapped out that existing pool of demand from the people who are ready to buy from us ­tomorrow.

“What we need to do is use brand to build that positive familiarity and emotional positivity among a much wider group of people.”