The $10 million Matthew McConaughey hire puts CRM is some some questionable company.
$CRM isn't the first company to throw huge piles of cash at a celebrity "creative director." Previous entrants include Blackberry $BB & Alicia Keys, Polaroid & Lady Gaga, and Intel $INTC & will.i.am.
We all know how things turned out for these former Wall Street giants, and it doesn't bode well for the future of CRM. But what do you think — does the McConaughey hire worry you as a shareholder? Do you think CRM's best days are behind it? Or is this just meaningless noise?
It is pretty headline grabbing, paying McConaughey such a large sum, especially when they are reducing headcount at the same time. But isn't celebrity endorsement all part and parcel of marketing? I remember $MSFT paying Madonna $10mn to use her song Ray of Light to market Windows XP - stranger things have happened!
$10 million for being a creative adviser and TV pitchman isn’t a great look when the company is laying off 8,000 people 🫣
Why not just structure such a relationship in terms of the marketing benefits. I agree having a celebrity director may generate the buzz and publicity needed for a brand however I am not a fan of this new obsession with appointing celebrities as creative directors. The lack of relevant expertise, limited availability, high costs and lack of continuity are often ignored.
Followed :)
What are your thoughts on Rivian and Rihanna?
I don't think people should worry about Matthew McConaughey in Salesforce commercials. SaaS is incredibly sticky and I see Salesforce continuing to dominate the CRM SaaS market.
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