Canadian rock band, The Tea Party, plan on taking advantage of their highly sought out website name, teaparty.com, by selling it to the highest bidder.
The group recently joined forces with Sedo (Search Engine for Domain Offers), a company that specializes in selling online domain names, in the hopes for a payout of over a million dollars for their website. Sedo has a history of selling multimillion dollar domain names; last year they sold Sex.com for $14 million.
The band feels as though the political group of the same name is damaging their bands reputation, and says it’s time to sell the website. With the upcoming American election, the timing couldn’t be more right for the group.
"Tea Party was an euphemism the Beat poets used for getting high and writing poetry and vibing with each other," says Stuart Chatwood, The Tea Party’s bassist. The band picked up the domain back in 1993 for probably next to nothing. Eighteen years later, they’ll easily receive one of the biggest paychecks of their lives for it.
Teaparty.com currently has the group’s tour dates up for their 'No Politics… Just Rock and Roll' Canadian tour. The whole situation seems pretty ironic if you ask me.
Million Dollar Band Names
The Tea Party Aims to Buy Out the Same-Titled Rockstars
Trend Themes
1. Domain Name Sales - The trend of selling high-value domain names presents a disruptive innovation opportunity for companies to capitalize on valuable online assets.
2. Brand Reputation Management - The trend of protecting brand reputation from associations with unrelated entities provides opportunities for companies to mitigate potential negative impacts.
3. Election-themed Marketing - The trend of leveraging election cycles to promote products or services offers opportunities for businesses to engage with politically-aware consumers.
Industry Implications
1. Technology - The technology industry can benefit from the trend of domain name sales by providing services to facilitate the buying and selling of valuable online assets.
2. Branding - The branding industry can offer solutions to help companies manage and protect their brand reputation in the face of potential associations with unrelated entities.
3. Marketing - The marketing industry can leverage the trend of election-themed marketing to develop creative campaigns that resonate with politically-aware consumers.