Browse all

All the ways in which Vogue makes money with the Met Gala

From Instagram sponsorship to million-dollar ads

All the ways in which Vogue makes money with the Met Gala From Instagram sponsorship to million-dollar ads

Even before being a parade of over-the-top costumes worn by half of Hollywood's famous and fashion elites, the Met Gala is a fundraiser for the Metropolitan Museum of Art's Costume Institute in New York. But that doesn't mean that 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 that, according to BoF, generated $16.4 million, tonight's Met Gala is one of the most talked-about events of the year - the same year in which not only the print medium but also in which the classic mechanism of ads in fashion magazines was challenged by digital media.  The most monetizable moment of the evening is, of course, the red carpet for which Vogue began selling advertising space back in 2015. But over the years, the costs for advertising placement have been increasing in correspondence with the development of digital channels through which the Met Gala is told: Vogue will broadcast a two-hour livestream of the event for the second year during which two six-second ad spaces will be sold for $1 million each. The price tag can get even higher if you add to these spots the amplification of content by influencers and celebrities on Instagram, which, by the way, is one of the event's sponsors.

Another source of profits is Vogue's liveblog, which this year will not only post live content but also host a vote in which the public can award their favorite outfits - even on the page the ads will be sold at a high price. The high cost of ads is not exaggerated: last year the Met Gala red carpet generated a media value of $543 million, higher than the Super Bowl, with a live broadcast that had 16.5 million views with another 8.2 million views on content about the event in the three days following. Also according to BoF, two clients that have reportedly already made arrangements for advertising are Cartier and Motorola, though both companies declined to comment. Beyond the profits generated by advertising, the Met Gala continues to raise money to finance performances through the sale of exclusive tickets: according to the Evening Standard, a ticket costs $35,000 and a table $200,000 to $300,000. When Yahoo! wanted to attend the gala in 2015, on the other hand, rumors spoke of a $3 million outlay. Either way, that's a wildly far cry from the $1,000 price tag that tickets had in 1995, the first year Wintour came to direct the event.