The Market
The “business” of faith has long been recognized as a multi-billion dollar industry by companies and organizations who provide services and products to faith-based institutions. The relationship between an institution of faith and its loyal constituents has been found to be stronger than that enjoyed by some of America’s most powerful, successful brands. Today, more and more companies are experiencing the emergence of the Christian community as a viable purchasing force.
The Demand
Consumer demand for media and entertainment with strong moral and spiritual values has exploded in recent years. In 2001, the # 1 and 2 best-selling fiction books were faith-based stories – Left Behind and Prayer of Jabez – both written by church pastors.
Religion is listed #1 among the top 16 categories of consumer book market revenues. According to the Christian Booksellers Association (CBA), “Religious book sales are expected to grow by 15% per year, while consumer product sales in general are expected to grow by less than 9%. We see no cap to the religious category in the general market; our sales are only limited by our ability to execute.”
Meanwhile, inspirational or “Christian” radio has gone from a handful of stations 20 years ago to over 1,600 today. Inspirational, faith-based shows like Touched By An Angel are netting high TV ratings, and MovieGuide magazine reports that the number of films with strong biblical themes has skyrocketed over the past decade.
Moreover, Hollywood has a renewed interest in “family” films. “The family film genre is an area that has great intensity right now,” said Michael Nathanson, production president for MGM. “Recently the market has become much more recognized.” (Variety)
And for good reason. A 1999 study commissioned by the Dove Foundation showed that of the 2,380 films given a wide U.S. release during the decade ending in 1997, G-rated films yielded the highest gross profit—$94 million on average—while R-rated films earned only $11 million on average, and PG films earned about $26 million on average.
G-rated family films generated eight times more gross profit than R-rated films. Not one of the 20 top-grossing feature films of all time carries an R or NC-17 rating. One industry analyst remarked, “A studio executive seeking to reduce ‘downside risk’ and increase ‘upside possibilities’ could do so just by shifting production dollars out of R-rated movies into G, PG, and PG-13 movies” (Los Angeles Daily News).
Indeed, films like Shrek, Monsters Inc., Ice Age, and The Rookie – which together earned over $800 million in U.S. box office – are heralding a new trend. “The studios have ramped up their family film slates for what seems like an insatiable family audience.” (Variety)
The Opportunity
Our central business premise is that the same “faith and family market" that been voraciously consuming faith-based and family-friendly books, music, TV and radio will likewise consume high quality services and products that drive everyday value. These services and products include any and everything related to the improving the value and quality of life. While still in various stages of implementation, corporate partnerships with institutions, companies, and publications of faith have and continue to emerged throughout the world – thus maximizing the core competencies and objectives of each respective organization.
DEVELOP “FIRST TO MARKET” MARKETSHARE WHILE YOUR COMPETITORS ARE IGNORING AND DISCOUNTING THE VIABIILITY OF THE TRILLION DOLLAR UNIVERSE.
Download this article published by The Washington Post about Corporate America's interest in the Black Christian marketplace.