Venture banks on companies searching for urban market
Sean “P. Diddy” Combs — rap star, music mogul … party planner?
The self-styled “Bad Boy” of hip-hop is taking his bling-bling on the road this summer, in hopes of squeezing big sponsorship dollars from corporate partners itching to crack the urban market.
Diddy and his company Bad Boy Entertainment are hosting five “Bad Boy Weekends” in five different cities, starting with Detroit in July. He’s also trolling for corporations to bankroll what the head of his marketing company, Jameel Spencer, says will be a chance to dip into an elusive market.
“The line between the entertainment and marketing and advertising world has virtually disappeared, and we anticipate great interest from corporate America interested in reaching the urban marketplace.”
The events, which are open to the public, will include a “linen” party (where that wrinkle-prone fabric is the required uniform) as well as P. Diddy “invasion” parties, where the man himself descends on a local venue for the night. Also on deck are ladies nights (two girls for every boy is the rule) and celebrity basketball.
So what do sponsors get for their five- to seven-figure outlay? On the high end, national sponsors will get their names plastered around the venue, on T-shirts and other tchotchkes, as well as the potential to film the events for commercial exploitation.
On the cheaper side — say, around 50 grand — a local sponsor would get its own banners, VIP passes and other premiums. And, of course, his own personal slice of the P. Diddy mystique.