This post was a part of our look at "How the Creator Economy Can Save the Hospitality Industry". To learn more about how we're helping hospitality entrepreneurs thrive in a new era, check out The Hospitality Stack.
David Chang runs a constellation of successful restaurant concepts, called Momofuku Group. In 2018, he leveraged his success in the kitchen to launch Majordomo Media, which produces content, including a Netflix show and podcast on Spotify’s The Ringer. He also runs an e-commerce business, called Peachy Keen, which sells products that feel like a natural extension of his entire brand, like soy sauce and seasoned salts. Even more, he rebukes more familiar delivery platforms for Goldbelly, through which he can ship frozen prepared meals nationwide.
He, too, recognizes the significance of the flywheels here. “If the media takes off, that’s more stuff that we can bring back to the restaurants. Maybe people will never want to pay that much money for food. Maybe we can subsidize some of the costs with other stuff that’s elevating our business,” he told ReCode.
These shows and products engage a much wider and diverse audience in a different and more engaging format than he can deliver in his restaurants, alone. He’s building more demand for his traditional restaurants, while diversifying his income stream with scalable, higher margin sources like production contracts, advertising revenue, and merchandise sales. By carefully staying true to his message, his brand becomes more intimate as it gets bigger because he’s able to introduce new ways to engage his audience authentically.