Did you know that Drake contributes to 5% of Toronto’s tourism economy?
Drake’s artistic talent is not the only thing that sets him apart from others; he has proved to the world that his name alone is an economic killer. Experts believe that the “Drake Effect” was responsible for reshaping Toronto’s tourism sector, where thanks to him, his fans are pumping around $440 million into the city’s economy.
In 2017 the city councilor in Toronto, Michael Thompson, revealed to Vice News that the “Drake Effect” has helped him attract significant foreign investments, including a tech conference worth $147 million. Thompson also stated that he constantly uses Drake as a selling point in his pitches, which he believes will yield positive outcomes.
The takeaway from the “Drake Effect” is to understand the vast power that some artists hold, and all this because of having a solid brand identity. Yes, it means that if you are a rising artist who wishes to shake up a country’s economy, then you better come up with “The strategy” rather than following what everyone is doing.
Stop scratching your head; I will simplify it for you now.
It is safe to say that the godfather of hip-hop/rap (aka. Drake) was the first Canadian artist to receive this much recognition and fame. Not because others did not have what it took, but Drake’s outstanding marketing abilities are the real game-changers. The artist does not only focus on writing songs. He constantly establishes consistent, engaging, and authentic content. You might think that okay engagement and consistency are essential, but what does authenticity have to do with all this? Well, sometimes authenticity is what sells the most because consumers want relatable and unstaged content. Therefore, if you are an up-and-coming artist, be sure to invest most of your time and energy in designing your brand and making sure that you, as a person, feel comfortable with that brand.
In a nutshell, Drake is a pool full of creativity; as a matter of fact, the artist always goes viral, thanks to his unusual moves and lyrical content (like the “Hotline Bling” famous move, which became a worldwide meme).
Whether you like Drake as an artist or not, there is something that we can not ignore, which is that he has heavily contributed to resurrecting Canada and more specifically, Toronto. He has not just left the country to chase his dreams somewhere else; instead, he built a strong empire, and he is now working on giving back to his hometown to help the future generations.
For more news and updates about marketing and online advertising, make sure to check out MusicPromoToday’sMusicPromoToday’s Blog and our Instagram page.