Brand Extensions Are Supposed to Create Value. The Grammys Show How They Can Destroy It

BTS recently pulled its newest album from award considerations after the Grammys announced a new music category. It’s an important lesson for entrepreneurs about diluting your brand.

EXPERT OPINION BY HOWARD TULLMAN, GENERAL MANAGING PARTNER, G2T3V AND CHICAGO HIGH TECH INVESTORS @TULLMAN

TS perform onstage during the 64th Annual GRAMMY Awards at MGM Grand Garden Arena on April 03, 2022 in Las Vegas, Nevada. Photo: Getty Images

I wrote some time ago about how BTS, one of the biggest bands in the world these days, was developing their own platform that would permit them to “own” a direct and persistent connection to their fans that was free of the many gatekeepers and parasites that have traditionally controlled the music industry. This would permit them to sell swag, special access, live podcasts, and eventually even tickets fee-free to their fans. Another upcoming artist, GiaNina Paolantonia, has similarly built her own platform and app in order to communicate with, connect to, and engage with her fans and followers.

The music industry is like a multi-headed hydra, however, and always has........

© Inc.com