During a discussion at an event over the weekend, I was asked the following:
Is Spoken Word Poetry worth investing in? If yes, what are the ways that it can be monetized to bring back returns?
Well, my answer was ….yes, Poetry is worth investing in financially, and yes, it can be monetized to bring back returns.
How it will be monetized?
- Organise paid training sessions at $5 per person per day for 5 days at a minimum of 20 person per class. This session will hold will twice or thrice a month.
- Online poetry slam competition for poets from all over the world and at $1 per competitor. There will be no limit to numer of people that can enter.
- Offline poetry slam competition for poets from all over the world and at $5 per competitor. Entry will be by online video submission.
- Poetry App development for free download of poetry content and allow paid adverts on the app.
- Sale of Poetry Merchandize such as branded tee shirts and other items.
- Poets/ artiste management and consultancy services.
- Public speaking
- Paid Poetry performances.
- Sale of poetry content to Networks.
- Paid advert on Poetry TV and Radio channels.
- Sponsorship of Poetry events.
- Call back/ ring tones.
- Blogging, poetry event reporting, social media marketing etc.
However, before you can monetize poetry as stated above, one key issue need to be established. This is the issue of “creating a career path for poetry,” which is what the funding/ financial investment in poetry would be utilized for.
What do I mean by “creating a career path for poetry?”
Basically, creating a career path for poetry is providing platforms and avenues for poets to express themselves. This makes the poets (and their family/relatives/ friends) see the possibility of making a career from the art form. The effect of having multiple platforms is that it provides the exposure/ awareness needed for the art form to grow into an industry.
Two key challenges currently facing the development of a Spoken Word Poetry industry are: Awareness and Funding. Fact is, awareness brings funding, and funding brings awareness. Thus, we can narrow the key challenge down to funding.