Star Wars is a large and influential TV franchise rivaling Dune, Game of Thrones, Harry Potter, and Lord of the Rings. Despite its inception in 1977 the space fantasy has not only managed to afloat but has also outsailed modern cinema works.
Star Wars franchise screen worth has escalated daily. From 2012 the estimated Star Wars worth has increased from $4.05 billion to over $80 billion. From the looks of it, Disney is working on multiplying that. The release of another Star Wars series The Acolyte is promised this summer.
The interstellar space story has taught business moguls, small business owners, and film industry marketers several strategies. Star Wars lessons extend beyond the entertainment world. Let’s see what business lessons Star Wars or Watto’s junk store have in store for us!
Keep Up With The World
Over the years Star Wars has incorporated modern technology to keep up with the entertainment world. It would not be a stretch to say Star Wars led the innovation in filmmaking. The original trilogy used miniatures, and matte paintings as backdrops for special effects.
The release of prequels introduced CGI and later the sequels mixed the practical effects and videomaking advancements to create relatable and live-action pieces. The realistic technology has successfully connected with the fans and the worth of the characters, landscapes, and mystic force has increased for the galactic fans.
Honor Tradition
Even with the advancement and evolution of cinema, Star Wars has not let go of the core story. The space story where the Darths fight for dominance over politics and trade, and the good guys hold characteristic lightsabers has made Star Wars a science fiction special.
Losing the essence of mystic force will destroy Star Wars fame. Fans would not like it if the elements that make Star Wars the iconic franchise were not there anymore. Without the Rebellion and the Furst Order hope is lost for us all!
Keep Them Hooked
Star Wars follows the same story of good versus evil showcased in traditional and contemporary cinema for centuries. A predictable plot never catches a big budget and billboard place like Star Wars.
To make it different Star Wars producers have introduced spin-offs, prequels, and sequels expanding the original story with interesting characters, a deep storyline, futuristic technology, and the never-ending planets in the Galaxy. Interesting additions like this have added a new meaning to the worn-out storytellers and genres.
Consistency with Diversification
It is easier to get fame but harder to maintain it. LucasFilm and Disney know about this strategy and every May 4th a new line of products is launched along with mid-year releases for Star Wars items. Comics, custom lightsabers, video games, home goods, cookbooks, merchandise, space smart gadgets, and more are redesigned annually to keep the fans happy and engaged.
Not only that, the marketing strategies, campaigns, and collaborations catalyze the Star Wars popularity. For the entertainment and business world, this strategy is profitable in announcing the release of the upcoming series.
Engage With The Fans
Star Wars’ biggest treasure is its force and non-force fans. For any business, costumes are the biggest priority. Similarly, Star Wars has taken it to social media to link the fans globally. Nothing beats the happiness that follows meeting someone of the same interest. Reddit threads, Quora, and Facebook are large platforms for discussing Star Wars theories and ideas.
Apart from the connectivity aspect, social media is a hilarious meme platform generating relatable Star Wars content and large business revenue yearly. Conventions, fan meetings, and Disney theme parks welcome viewers to experience the Star Wars world for real.
Handle Criticism Productively
We all know of the backlash the movie prequels and sequels got from the viewers. The later trilogy movies could have done better. Star Wars has produced epic characters but the plot, production, and screenwriting were not up to par.
As always the production team exceeded the expectations when they listened to the audience cry and released masterpieces like The Mandalorian and Rebels.
This positive outlook flooded hundreds of fans happy to have their requests catered to.
Strategic Partnership
LucasFilm’s collaboration with Disney proved to be a fruitful acquisition. Disney enhanced the Star Wars project through multiple releases and a clever marketing strategy. This platform has provided resources, channels, and opportunities doubling the fame and reach of the space fantasy.
The insertion of new dialogues, characters, and visual effects under contemporary directors has enhanced the immersive experience for viewers.
Conclusion
The continual success of Star Wars has taught the business, entertainment, and parenting world many lessons. Companies that stick to their core and work on rebuilding it to match the needs of their customers have left a resounding legacy.Star Wars has taught us creative ways of expanding and managing a huge franchise business with failures and global success.
