All the ways in which Vogue makes money with the Met Gala From Instagram sponsorship to the arrival of the Bezos
Even before being an over-the-top parade of extravagant outfits worn by half of Hollywood’s celebrities and the fashion elite, the Met Gala is a fundraiser for the Metropolitan Museum of Art's Costume Institute in New York. But that doesn’t mean Vogue, the event’s historic organizer, hasn’t found ways to monetize the enormous attention it generates. After the cancellation of the gala in 2020 and the 2021 edition which, according to BoF, generated $16.4 million, the Met Gala has become one of the most talked-about events of the year—at a time when print media and the traditional advertising mechanisms of fashion magazines have been challenged by digital platforms.
The Met Gala business
The most monetizable moment of the evening is, of course, the red carpet, for which Vogue began selling advertising space as early as 2015. Over the years, the cost of these ads has increased in parallel with the expansion of digital channels through which the Met Gala is covered: last year, for example, Vogue sold the two advertising slots during its event livestream for $1 million each. The price can rise even further when these spots are combined with content amplification by influencers and celebrities on Instagram, which has also been one of the event’s sponsors. This year’s edition, however, is shaping up to be one of the most discussed—not only because it will be the last held under Anna Wintour as the reigning queen of Vogue, but also because it will be the first sponsored by billionaire couple Jeff Bezos and Lauren Sánchez, who over the past year have made every effort to establish themselves within the most elite circles of fashion.
The price of exclusivity
Another source of revenue is Vogue’s live blog, which not only posts real-time content but has also hosted a public vote allowing audiences to choose their favorite outfits—with ad space on the page sold at premium rates. These high advertising costs are far from excessive: in the past, the Met Gala red carpet has generated a media value of $543 million, surpassing that of the Super Bowl, with a livestream reaching 16.5 million viewers and an additional 8.2 million views on related content in the following three days.
Beyond advertising profits, the Met Gala continues to raise funds through the sale of its highly exclusive tickets: according to the Evening Standard, a single ticket costs $35,000, while a table ranges from $200,000 to $300,000. When Yahoo! attended the gala in 2015, rumors suggested a $3 million expenditure. This year, with Bezos’ involvement, ticket prices have increased by $25,000 compared to last year, reaching $100,000—a figure dramatically distant from the mere $1,000 tickets of 1995, the first year Anna Wintour took over the direction of the event.