Simon Cowell Arriving At X-Factor Auditions

Music

The future SYCOLOGY of the X Factor (2012)

2 Jul , 2012  

Ahead of this years X Factor, I would like to share and publsih my thoughts on a few options on what should be done this year in order to ‘up the game’ for SYCO/SONY/FREEMANTLE/ITV.

This article aims to inform SYCO how they can improve the X Factor 2012with a three stage solution. There are many stages that I could suggest; however, I have chosen three key options that I believe feel offer significant business advantages (both short and long term) in order grow market share, gain organisational sustainability and increase profits and profitability.

Simon Cowell Arriving At X-Factor Auditions

I will present the options in order of their perceived importance.

Strategic Option – One (Entry Process)

First, Fremantle and SYCO must improve the contestant entry process in order to capture higher quality singers and grow consumer faith in the X Factor brand quality and credibility.

Currently, there is very minimal support at the audition process when supporting the Freemantle production team and it is critical that this changes imminently and is made a priority to music employees who develop acts and produce albums. Critically, this means pre-entry A&R development. It is important that this strategy is clearly explained in detail to demonstrate where the gaps lie, so that this can be addressed in order to improve SYCO’s business performance and profits.

The professional advice of SYCO employees that will be on offer to support Freemantle production staff will be extremely useful in identifying and securing vocalists that have a real chance of making it to the finals and the all important recording contract. Ensuring that world class acts are not lost due to the sheer weight of applicants will be of critical commercial interest to the music industry, Sony Music and SYCO’s brand management. Put simply, good acts must not be lost by a bad process.

With new competition from new UK products such as ‘The Voice’, it will be highly critical that this year’s vocalists for the X factor are the best ever on a TV programme of this format. This type of strategic activity will also help SYCO manage any negative media that the company constantly faces and help build a robust positive corporate reputation.

Conclusively, the message is simple: better talent equals better ratings (BGT 2012).

If implemented to my brief SYCO will gain:

  • Higher market share
  • Increased brand credibility
  • Stronger talent
  • Increase in TV ratings
  • Positive media attention online/offline
  • More sustainable products and higher sales
  • Secure longer term financial revenue streams

 

Strategic Option – Two (Restructure the format of ITV2 Xtra factor)

Secondly, SYCO, Freemantle and ITV must implement a new engaging format that is more fun in order to improve the ITV2 audience ratings. To increase consumer interest and provide ‘new’ reasons to tune in, the judge’s dressing rooms should be used as backdrops/sets. Whether the main show has provided rich content with excellent performances of perhaps a quip/fall out between judges resulting in an obvious emotional disconnect will provide TV gold moments that will explode through social media. This will, in turn, help fight off any competition from other rival reality shows.

Using a mobile crew to whisk through to the judges dressing rooms and provide premium behind the scenes footage would be a first for this type of show.

There are many options for improving the presenters on the Xtra Factor and one of the key areas I would recommend would be to secure very confident and quick witted presenters in order to capture the humorous market to lighten up the format and make it a key talking point. It is vital to stay clear of ‘re-inventing the wheel’ with the typical bog-standard sub-prime presenters. This type of activity will increase audience size by providing more rich content and keep the excitement going for longer. Encourage ITV1 viewers to stay on to increase ITV2 viewers in order to capture SYCO sales.

If implemented to my brief SYCO will gain:

  • Higher audience rating to the Xtra factor
  • Improve quality of content
  • New exciting set and never before seen insight
  • Increasing brand credibility
  • More sustainable products and higher sales
  • Secure longer term financial revenue streams

 

Strategic Option – Three (The X Factor 2012 ITV Live Final)

Finally, this year’s live X Factor final could prove to be a TV concert phenomenon, attracting the largest audience yet. By using the arena format SYCO could improve business performance by integrating other key artists into a concert style format along the lines of the USA Jingle Ball. A longer ‘Live Aid’ style of show with more key acts, more celebrity collaborations and more releasable live products will in doubt ‘wow’ music consumers and encourage purchases.

SYCO could implement a lottery style concert ticket system which is a very successful business model in the USA with big live brands and high profile music artists. The lottery system pricing would be set accordingly (under £3 per applying audience member) in order to gain upfront finances that can help fund the production and cover business costs.

In the USA market this process demonstrates this disclaimer: The lottery system does not guarantee tickets, it provides effective crowd control and customer safety, and gives customers the same chance of being first in line.

If achieved then there is a further commercial option to capitalise on a Christmas album and thus gain sustainable competitive advantages. This content would be recorded ahead of the live show with confirmed celebrity acts and advertised during the show (and commercial breaks) to purchase. In short ‘Now that’s what’s I call X factor 2012’.

If implemented to my brief SYCO will gain:

  • Higher market share
  • Increased brand credibility
  • Increase in TV ratings
  • Positive media attention online/offline
  • More sustainable products and higher sales
  • Secure longer term financial revenue streams

__________________________________________________________________________________

If you would like to discuss any of my strategic recommendation to improving commercial performance of which there is many more, please feel free to contact me.

, , , , , , , , , , , , ,

By