{"id":21207,"date":"2024-05-25T18:58:28","date_gmt":"2024-05-25T18:58:28","guid":{"rendered":"https:\/\/mysourcefunding.com\/?p=21207"},"modified":"2024-05-25T18:58:30","modified_gmt":"2024-05-25T18:58:30","slug":"airbnb-partners-with-artists-and-films-for-icons-rentals","status":"publish","type":"post","link":"https:\/\/mysourcefunding.com\/?p=21207","title":{"rendered":"Airbnb partners with artists and films for Icons rentals"},"content":{"rendered":"

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Doja Cat. Prince. Pixar\u2019s Up<\/em>. What do these things have in common?<\/p>\n

At first glance, not a lot\u2014but they\u2019re all involved in Airbnb\u2019s new Icons category, a collection of overnight stays and experiences that began to roll out at the beginning of the month.<\/p>\n

As part of the promotion, the short-term rental company is offering users the opportunity to request to book experiences like staying at the house from Prince\u2019s Purple Rain<\/em> film, visiting a floating home similar to the one featured in Up<\/em>, and attending a living-room concert from Doja Cat. Icons debuted with 11 experiences, with more to come throughout the summer.<\/p>\n

Icons is the latest example of Airbnb using beloved intellectual property to help market its platform and get its user base engaged with experiences, efforts that could also stand to bolster the company\u2019s profile and help differentiate it from competitors.<\/p>\n

Win-win situation<\/h2>\n

The Purple Rain<\/em> house will be available to book in August, and is expected to sell out \u201cimmediately,\u201d Sam Sklover, director of marketing and brand partnerships at Primary Wave, a music publisher and management company that holds a significant stake in Prince\u2019s estate, said. His role at the company is focused on building artist awareness through work with brands, film, and television; Primary Wave worked directly with Airbnb on the listing, and Airbnb is renovating the home for the promotion, he told us<\/p>\n

The experience of booking an Icon listing, he said, is \u201calmost like tickets to Taylor Swift, where you\u2019ll go to book, and if you\u2019re there first, hopefully you\u2019ll get the thumbs up, or in this case, what they\u2019re calling the golden ticket.\u201d (When an Icon listing goes live, users can request to book it through the Airbnb app. Those who are selected will receive a \u201cdigital golden ticket.\u201d)<\/p>\n

In the case of Primary Wave, working with Airbnb is an effort to help support continued awareness and excitement around Prince and a way to celebrate<\/a> the 40th anniversary of Purple Rain<\/em>, Sklover said.<\/p>\n

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Conor Henderson, an associate professor of marketing at the University of Oregon Lundquist College of Business, said that brand partnerships with Airbnb, like the ones participating in Icons, tend to offer \u201cmore of a promotional benefit\u201d than a monetary one. That seems to be the case for the Purple Rain<\/em> house\u2014according to Sklover, the home will be available to book for just $7, because seven was Prince\u2019s favorite number.<\/p>\n

For Airbnb, promotional efforts like Icons can bring in earned media, which can also be more valuable than the money earned through the rentals and experiences themselves, Henderson said.<\/p>\n

The promotional benefits that can come with such arrangements may aid Airbnb as it continues to position itself as different than its competitors, Henderson said, including hospitality stalwarts like hotels that have seen something of a resurgence since the start of the pandemic.<\/p>\n

\u201cThe basic story of Airbnb is them building the brand and building the position around these unique experiences that are more connected to the local and that has helped them gain ground on the Marriott,\u201d Henderson said. \u201cThey make the Marriott look a little bit stale by contrast.\u201d<\/p>\n

Think outside the box<\/h2>\n

This isn\u2019t the first time Airbnb has offered customers curated experiences based off of popular IP. Last year, it offered stays at Shrek\u2019s Swamp in the Scottish Highlands and Barbie\u2019s Malibu Dreamhouse. In 2021, users could book a night at a Winnie the Pooh<\/em>-inspired listing called Bearbnb.<\/p>\n

After navigating the pandemic, Airbnb has faced some recent business challenges, including customer complaints around the total cost of stays, and cities like New York cracking down on short-term rentals like those typically offered on Airbnb. However, the company is still pretty popular.<\/p>\n

According to Airbnb\u2019s Q1 earnings, it clocked $2.1 billion in revenue (18% YoY growth), and counted 133 million nights and experiences booked in that time period.<\/p>\n<\/div>\n