Just saw Spotify is going to pay 70 million dollars a year to have their name on the F.C. Barcelona t-shirt. How can this be profitable? Surely not that many people start using Spotify just because they saw it on their teams shirt right?
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The first part of what is called the advertising funnel is Attention – people have to know that your product exists before anything else.
Spotify’s name on the FC Barcelona shirt isn’t about them supporting the club. It’s about them getting that word in front of the eyeballs of every person watching a match. For them, that’s apparently worth $70 million.
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