Diamond Jubilee – Good Or Bad For British Business?
Whether you’re for it or against it – the Diamond Jubilee can’t be ignored. It’s going to be everywhere.
But how does it affect you and – most importantly – your business?
Because the Jubilee coincides with the annual May bank holiday, most employees will get a day off on Monday the 4th of June and Tuesday the 5th of June.
There are some concerns that this will reduce UK output, thereby having a negative effect on the nation’s fragile attempt to create economic recovery.
But many feel that the opposite is true, with some businesses viewing the event as an opportunity to rebrand their products and services.
In fact, entire marketing campaigns are using the Jubilee as a free promotional tool.
The methods of delivery that they’re using range from:
> Print marketing
> Web marketing
> And, of course, corporate video and web video.
And the tourism sector is said to benefit tremendously, with the UK having the opportunity to show itself off to the world and give it a taste of what it can expect from the London 2012 Olympics.
In fact – according to an impact assessment from the DCMS (Department for Culture, Media and Sport) – there will be an estimated £620 million rise in leisure and tourism spending within the UK.
The Jubilee, the media industry and the web
Major television networks from all over the world will be broadcasting the jubilee to an international audience.
This is nothing new.
What is new – when compared to the 50 year Jubilee in 2002 – is the ability to stream the 2012 Jubilee over the internet.
News websites will be streaming various celebrations from all over the UK to individual computers, tablets and Smartphones.
The streams will, of course, come from official recordings of the events and will be professional in their nature.
But what about the amateur filmmaker?
In the past, home movies that were made of such events were shown to a select group of family members and friends. And then they were locked away in some chest, never to be seen again.
In 2012, this need not be the case.
A recent report from Blueprint Interactive found that:
“YouTube users now upload two hours of video every minute from mobile devices alone”.
This is said to increase during the Jubilee, with personal experiences of the celebrations being uploaded to a world audience.
This proves that web video is now a major part of British – and international – culture.
This is brilliant news for companies that are involved with web marketing – and will hopefully provide a measurable boost to what is an already growing industry.
Is the Diamond Jubilee good or bad for British business?
We will only know for sure when it’s finished and the official statistics are released by the ONS.
The general thought is that it may have a short term negative effect in the output of some sectors, but that its overall impact will be positive for Britain.
The growth in tourism revenue will be substantial – with the retail and service sector benefiting directly from this.
Not to mention companies that work within media, web marketing and web video – which will benefit from any associated advertising revenue.
And let’s not forget the main purpose of any Jubilee – to uplift the nation’s spirits. If it manages to give the nation a new lease of confidence, then that’s success you can take to the bank.