Why Internal Holiday Videos Should Stay Internal
Within the US financial communications sector, unless you’ve been living under a [Black]rock, you noticed the stir around Blackstone and Apollo’s **publicly shared** holiday videos this year. These firms invested time, budget, resources, and effort into their year-end entertainment. Did it pay off? While we laughed along with the quips and silliness, we also noted what an interesting experience it was to consume these in the wild.
Haystack is no stranger to the ritual of holiday video productions. Over the years, our Fearless team has produced many of these for our finance clients and ourselves. They’ve proven to be an excellent investment in a firm's culture as they reaffirm an organization's distinctive and subjective personality. Internally, they have become the stuff of legend. But they were always intended for an internal audience. So, what are the implications of sharing these videos, chock-full of inside industry and firm-specific jokes, on a public platform?
Good Intention, Poor Reception
Year-end holiday videos are strong culture-makers with admirable intentions. When properly (i.e., internally) executed, they boost morale and generate enthusiasm while showcasing creativity.
Blackstone and Apollo took this approach to heart and pushed it further by playing on the current Taylor Swift buzz to present their firms as part of the 2023 zeitgeist. Blackstone does this by spoofing the Eras tour, while Apollo takes a subtler approach through a Tay Tay Christmas sweater and coordinating pun.
As a creative agency, we admire fun-loving ideas and bold execution, no matter the source. We also respect production quality and employee engagement. However, we typically advise our clients to refrain from publishing these publicly because while they are celebrated with firms and their constituents, anyone unfamiliar will have questions, if not concerns. Inside jokes are INSIDE jokes for a reason.
Audience First, Always
At Haystack, we base every creative decision on the intended audience. With the production of videos, that includes scripting, music, content, and imagery; everything stems from understanding who will watch the final product. And while we wholeheartedly support silliness, Audience First is a mantra we take seriously as a key indicator of a project's success. It’s a foundational focus for every endeavor — and goes double for corporate communications, especially in the current age of hyper-sensitivity and cancel culture.
Indeed, the online backlash speaks for itself, with viewers calling the Blackstone and Apollo videos “horrifying” and asking, “What were they thinking?” while comparing the cringe factor to The Office. Beyond the usual trolling gripes from those who can’t bear to watch others have fun, this reaction represents a substantial misreading of Blackstone and Apollo’s respective audiences. The jokes in these videos are a hit with financial corporate crews but don’t play to a general external audience. Instead, they’re received with skepticism and hostility.
In a nutshell, Blackstone and Apollo failed to read the room. Quality creative and high production values are worthless if they don’t land with the desired crowd. Much of today’s broadcast audience is dealing with the harsh effects of inflation, a widening income gap, and class inequity — certainly not laughing matters. So, while showing a lighter side has never been a crime, these firms intentionally and erroneously spoke to an unreceptive audience, looking out-of-touch or worse. It’s a shame because there’s nothing wrong with their videos except who they chose to play them for.
Feedback or Fallout?
Is all publicity good publicity? What are the potential implications of such missteps? Love them or hate them, the videos created a buzz. And here we are, furthering the conversation. So, perhaps it’s worth asking if that was the point. Even so, there isn’t much to be gained by the public display at the risk of damaging the brand.
Both Blackstone and Apollo are already well-known, so these viral videos aren’t going to make their names any bigger. Arguably, any positive impact created by their efforts will come from knowledgeable audience members or LPs who are already in on the jokes.
Meanwhile, the downside could negatively impact reputation and public image. Taken out of context, viewers could read the merry messaging as misrepresentation or careless use of funds instead of the humanizing romp it was intended to be.
Long-term, the backlash could decline employee morale and stakeholder confidence. The internal buy-in was strong at the start and would have increased further if the videos had been limited to internal viewing. However, because they were shared externally and received poorly, those same employees might now feel embarrassed, and partners might start asking what’s up.
In terms of asset management, this investment took unnecessary risks to prioritize perceived short-term gain over long-term value.
A Cautionary Tale for Corporate Comms
The lesson is straightforward: when crafting content, always begin with your desired audience and work backward. This way, you will create a message and publishing plan that resonates.
When producing year-end holiday videos, keep them fun and light-hearted, limit spending (and runtime), and consider subtleties that feel authentic to your firm. Above all, know your audience and present yourself accordingly. You wouldn’t deliver an important pitch at the annual holiday party, so don’t broadcast your internal video spoof to the world either.
Please reach out if you need help with your messaging or would like support with your next video project. We’d love to help you strategize the perfect audience-first sentiment for all your content marketing needs.
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