According to IEG, sponsorship of musical tours, venues and festivals will jump over 4% from last year and will top $1.3 billion in spending in North America alone!
The biggest trend seems to be the rise in popularity of brands wanting to be a part of the electronic dance music craze.
Anheuser-Busch InBev last year inked a multi-million dollar partnership with SFX Entertainment, Motorola partnered with Live Nation EDM festivals, while Heineken aligned with trance DJ Armin van Buuren to support its “Dance More, Drink Slow” campaign.
I believe this shows that brands are going where the audience is and they have finally accepted that the best way to reach that audience is when they are enjoying themselves.
The most active categories of music and festival sponsorship are:
- Liquor & Spirits
- Soft Drinks
- Hotel & Resort
- Consumer Electronics
- Radio Stations
It’s shaping up to be a big spring and summer event season. After enduring arguably the worst winter ever, audiences everywhere will be clamoring for the warmth of the sun and the communal aspect of the summer’s best festivals, events and concert tours.
If you’re a band or summer package getting ready to hit the road, it might be worth your while to get your information in front of a few savvy brands. And if you’re a brand, we all know it’s about the people. This summer might provide you with a great opportunity to get in front of a large group of engaged and captive consumers.