BMG moves into credit card biz

BMG Entertainment North America has pacted with Wachovia Bank to offer a BMG Visa card. The move marks the recording industry’s first credit card and will provide cardholders with rewards available exclusively through the global music company.

The card, which will be launched in September, will tally each transaction with points that can be redeemed by cardholders for products from BMG Entertainment artists. Extra points will also be given for using the card at selected retailers.

Prizes come easily

But unlike many co-branded credit cards, where reward thresholds are often very high, BMG will make it easy for cardholders to nab prizes. The rewards list will also be updated frequently to inspire loyalty among card users.

Kevin Conroy, senior veep of marketing for BMG Entertainment North America, said the creation of the card “signifies the creative approach BMG is taking to the aggressive, non-traditional marketing of our artists and music to the consumer.”

Genre appeal

He noted that the program will be tailored to reach fans of specific genres or artists as it “builds ways to deliver music and product (outside of) conventional methods” typically employed by the majors.

“The fans of George Winston and Jim Brickman are very different than those of Dave Matthews and Verve Pipe,” Conroy said. “We intend to make the rewards appeal to each group.”

Prizes include tickets and backstage passes to concerts, meet-and-greets with artists and limited-edition promotional CDs and special compilations, among others.

Currently Ticketmaster and Tower Records are among the music-related companies that have branded credit cards.

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