Meet The Exec Who Thinks Merch Can Be ‘More Powerful Than A Simple Transaction’

In today’s music economy, where streaming royalties remain thin and ticket prices continue to escalate, one of the fastest-growing and most resilient sectors is merchandise — and few companies are as prominent in the space as Universal Music Group’s wholly owned Bravado, which oversees the world’s largest music merchandise operation.

Bravado aims to unite artists and fans through products that aspire to be more than souvenirs, and at the center of its machine is its president, Matt Young. A 25-year merchandising veteran who joined Bravado four years ago, Young has shepherded the company through an era of unprecedented demand and logistical complexity, helping Bravado grow into a revenue engine that UMG says now generates over $900 million in annual business. But those top-line numbers tell only part of the story.

“We’re building bridges,” Young says, “allowing fans to touch something physical that represents the emotional connection they have to the music.”

Matt Young will participate in a panel at Billboard‘s Live Music Summit, held Nov. 3 in Los Angeles. For tickets and more information, click here.

Young’s path to Bravado traces the broader arc of the merch industry. He began at Roadrunner Records in the late 1990s, when the label had started to flirt with what would become known as “360 deals,” which bundled merchandising with recording and touring rights. From there, he spent time at an independent merch company before moving on to Warner Music and helping it build its merchandise division. “I’ve seen this industry from every angle: indie, major, startups,” he says.

By the time Young joined Bravado in 2021, the merch sector had begun to mature into a sophisticated global business with its own supply chains and sustainability strategies. In his role, he oversees customized blueprints for artists who range from global superstars like Billie Eilish and The Rolling Stones to emerging bands on the club circuit. About one-quarter of Bravado’s roster is non-UMG acts, and the company’s model spans from tour merch sold directly at concerts to retail partnerships with American outlets like Hot Topic and others in Europe and Asia.

“Tickets and T-shirts,” Young muses, are now twin pillars of the touring economy, with some artists selling hundreds of thousands of dollars’ worth of items in a single night. For certain acts, particularly those with deeply engaged fans, the merch table rivals the box office as a source of income. This shift has also forced the industry to rethink product design, moving away from one-size-fits-all T-shirts toward fashion-forward collections, sustainable fabrics, upcycled inventory, exclusive colored vinyl, collectible collaborations and even action figures.

Meanwhile, the evolution of VIP experiences has further blurred the line between merch and fan engagement. Bravado’s premium programs for artist tours range from simple early-entry packages to elaborate meet-and-greet activations that command thousands of dollars. For bands like Pierce the Veil, VIP passes that grant barricade access and exclusive goodie bags have become essential fan experiences, while legacy acts like Def Leppard and KISS have offered photo ops and once-in-a-lifetime perks.

Yet challenges remain. The company must navigate tariffs and geopolitical disruptions to supply chains and shipping routes while managing its inventory and combating bootleggers — both the ones who have long hawked counterfeit shirts outside arenas and those in the Wild West of digital merch, where Instagram scammers selling fake band shirts is an ongoing issue. For Young, though, these obstacles underscore the stakes. In his view, merch is not only about revenue diversification but also about cementing culture through everyday objects that can transform passive listeners into active community members. Merch — and Bravado’s products — are both commerce and cultural currency. “This isn’t just what I listen to,” Young says. “It’s who I am.”

How big is Bravado’s business today?

Universal’s earnings reports show that merchandise generated north of $900 million last year. It’s a substantial piece of UMG’s overall revenue, and it means our side of the business gets attention at the highest levels.

You often describe merch as more than just souvenirs. What do you mean by that?

Music creates an emotion, and merch is the last tangible thing you can hold, wear or display that represents that feeling. A vinyl record — even for someone without a turntable — can be merch. A hoodie or a T-shirt is an identifier: It says, “This is who I am, this is the culture I belong to.” That’s more powerful than a simple transaction.

What does your job look like week to week?

It’s a mix. We run teams in cities across the globe — New York, L.A., London, Berlin, Tokyo, Sydney, Madrid, Nashville. So there’s operational management. But there’s also signing new artists, pitching them ideas, collaborating with labels and making sure our products fit each fan base. We also spend a lot of time on sustainability: upcycling leftover inventory, using recycled materials and building new processes to reduce waste.

How does upcycling work?

We partner with a company called Hallotex. They take old tour stock — unsold shirts, tote bags, whatever — break down the fibers and respin them into new cotton. That gets turned into new blank [shirts] for fresh merch. Or maybe it’s taking old tote bags and turning them into a blanket. It’s about turning excess into opportunity and cutting down on the warehouse full of leftovers that used to define this business.

How do the economics of merch work for artists?

There are three main buckets: tour sales, online stores and retail. On tour, there’s usually a truck following the band with inventory, and most of that money goes directly to the artist on a net-split basis. Online and retail work more like a royalty system since we handle production and logistics. Across the board, the splits are heavily in the artist’s favor — often 80% to 90% after costs. It’s often the No. 2 source of revenue [for artists] after ticket sales. It’s not unusual for a major tour to transact hundreds of thousands of dollars in merch in a single night.

What makes for a successful merch strategy?

Culture. If a band has a lifestyle built around them, merch thrives. Look at Billie Eilish, who insists on sustainability and explains it to fans every night. Or Olivia Rodrigo, who wore her own merch onstage. When the artist truly believes in it, sales follow. It becomes part of their identity and their fans’ identities.

What kinds of products are trending now beyond T-shirts and hoodies?

Exclusive vinyl colorways for tours, blankets for amphitheaters, memorabilia books like Olivia Rodrigo’s, collectible action figures like we did for Rihanna, Slipknot’s masks and jumpsuits. It’s all about matching the lifestyle of the artist with the passion of the fan.

How do global challenges — tariffs, Brexit, supply chain issues — affect you?

They definitely add complexity. Brexit alone changed how we move goods in and out of Europe. Tariffs can impact pricing and margins. But we have logistics teams built to handle that. We try to be nimble and find ways to keep delivering.

What about risk? Not every product is going to be successful. How do you deal with demand uncertainty?

The key is smart inventory control. We measure sales every night on tour and adjust orders quickly so we don’t get stuck with piles of leftovers. Years ago, I inherited a warehouse in Nashville that was literally two football fields wide full of unsold merch. That doesn’t happen anymore. We recycle, upcycle and design smarter so we’re not flooding the market. And when there is excess, we’ll sometimes move it online for fans who couldn’t get to the show.

How much do fashion trends dictate what you create?

A lot. Kids today don’t want the same cuts we sold 10 years ago. Right now, shorter, wider shirts are in. A few years ago, it was skinny fits and super-thin fabrics. Hip-hop audiences might prefer heavyweight blanks, while pop audiences want pajamas or skirts. It’s about curating for each fan base — answering their call rather than handing them a generic black T-shirt.

Do you work outside music, with comedians or podcasters?

Yes. We do VIP and merch for Kevin Hart, and we also work with Shane Gillis, who’s one of the biggest comedians in the country right now. Comedy is different — comedians don’t pile into vans for long tours; they fly in for weekends. But they have catchphrases and bits that translate perfectly to merch. We also work with YouTubers and media personalities if it makes sense for our demographic.

Do macroeconomic shifts — inflation, politics, consumer confidence — ­affect your numbers?

On tour, not really. Since COVID, merch numbers have been the highest we’ve ever seen. People are celebrating being back in shows and merch is part of that. At retail, yes, you see slowdowns when inflation hits or tariffs drive up prices. But live is resilient. People are buying hoodies, vinyl and collectibles as part of the celebration of going to a concert.

Bootleggers have been around ­forever. Are they still a problem?

Always. If you’re buying from a guy in the parking lot, it’s not legit. And while the shirts might be cheap, they fall apart. But there’s also a fascinating subculture of vintage band tees. Original Nirvana or Nine Inch Nails shirts from the ’90s can sell for thousands of dollars today. That market is booming, and in some ways, it fuels demand for new designs, too.

Looking ahead, where’s the growth?

Digital. We’re learning as we go in video games and online platforms — it’s still the Wild West. There’s also a fight against online piracy, with fake ads on Instagram and Facebook. Beyond that, it’s about converting casual fans into superfans with unique, culturally relevant products. At the end of the day, it’s about making sure fans feel closer to their favorite artists.

This story appears in the Oct. 25, 2025, issue of Billboard.