- Constellation Brands has entered right into a multimillion dollar partnership with media company Tastemade to launch a content studio that may create and distribute original streaming and social media content, in response to a press release.
- Key points of the deal will include original content and series for streamers and development of original concepts and series for Tastemade’s streaming channels along with original social content, creator and talent partnerships and experiential activations.
- The first effort yielded from the tie-up is an on-the-go travel series, titled “Street Somm,” that focuses on wine and food pairings. The move sees Constellation vying for more modern marketing and arrives as its wine segment of business faces declining revenue.
The Constellation + Tastemade Studios tie-up is supposed to introduce legal-aged adults to the wine and spirits category, and more specifically, a few of Constellation’s top brands, as interest in streaming channels continues to realize traction. The duo plan to create a slew of varied content resources, signaling an aggressive strategy that might mature their digital presence and form recent relationships.
Additional elements of the tie-up will yield content to be sold each to streamers and for use on Tastemade’s own channel. Partnerships with creators and branded social media video content will even be strategized to drive awareness. Tastemade has a world audience of 300 million viewers across its digital, mobile, streaming and tv platforms, per release details, a following that might effectively get Constellation gain the reach it’s vying for. Other major partners of the media company have included PepsiCo, Honda and Walmart.
“Our collaboration with Tastemade accelerates our consumer-obsessed strategy through wealthy storytelling, dynamic talent partnerships, native social video content and authentic consumer engagement moments that we anticipate will win with audiences all over the world,” said Robert Hanson, executive vice chairman and president of Constellation Brands’ wine and spirits division, in the discharge.
The first product of the tie-up, “Street Somm,” follows an outgoing sommelier traveling to varied cities within the U.S. in pursuit of unique cuisine and wine pairings. The series is intentionally crafted to pair wine and food in creative ways in a push to challenge perceived notions in regards to the industry, a move that might help Constellation higher connect with younger audiences and people not typically drawn to wine.
A give attention to wine in its debut program is probably going strategic, as that segment of its business has been struggling. According to its 2022 annual report, wine only made up 20.6% of its consolidated net sales for the 12 months, down from 25.6% the 12 months before. Additionally, net sales of wine fell from $2.2 billion in 2021 to $1.8 billion in 2022. While Constellation is thought for its U.S. control of Corona Extra, its portfolio also includes Robert Mondavi Winery, The Prisoner Wine Company, High West Whiskey, Kim Crawford, SIMI and Schrader Cellars, amongst others.
Read the complete article here
