While the levels of corporate involvement in music festivals is often a subject of discussion amongst fans, a recent survey by industry leaders has shown – when targetting millennials at least – brands would be well-advised to get involved.
Undertaken by live promoter AEG and experiential branding company Momentum Worldwide, the study turned up some notable figures on the influence of such a sponsorship on attendees. Their survey looked specifically at the impact of sponsorship when it comes to millennials’ thoughts on the brands involved.
Key figures include:
– 93% surveyed stated that they like brands that sponsor live events.
– 80% purchase a product from a sponsoring brand after a festival experience, compared to 55% among non-attendees.
– Those millennials who engaged in a branded music experience come away with a 37% better perception of the brand.
“The research clearly shows people will welcome brands in their music experiences,” said Glenn Minerley of Momentum Worldwide, commenting on the findings. “The interesting challenge now is how to do so in a way that feels more memorable to consumers and valuable to brands than what our industry has delivered in the past. We all need to evolve.”
Almost all major festivals are now involved with a myriad of sponsors, while brands also feature as part of an array of concert tours and one-off shows. Figures suggest that’s a trend that’s likely to continue.