By Samantha Bond @MKTG

It may have been the summer of Taylor and Beyonce, but don’t call it a comeback. The live music space has long been a powerful way to reach fans, and the post-covid resurgence has shown stronger sales and attendance than prior to the pandemic. So, why aren’t more brands part of the headlines when music fans are clearly demonstrating their passion for live music?

See what fans are saying directly from our most recent FanSpeed study and our take on how brands should be engaging with music fans:

WHY:

1. Is this what the kids are listening to these days? Music is universal, but it’s REALLY popular with the more diverse, younger and discerning consumers. Three-quarters of the US consumers are music fans, including 84% of 18-34 year olds

   Our take: Brands should consider music if you want to diversify your sponsorship portfolio, do a test and learn, or just blow your next 10-year budget and build Sphere venues all over the world (please do). Speaking of budgets…

2. If it’s important to them, fans will budget for it – even in a down economy. Our FanSpeed study showed that 70% of music fans agreed that “spending money on music festivals / concerts is something I will prioritize / keep in my budget”. Even with megatours absorbing a lot of that consumer budget this summer, we also saw strong tour sales across multiple genres and sold-out festivals like Lollapalooza.

   Our take: Brands should have the confidence aligning with a music opportunity knowing fans are prioritizing it in their spending habits.

3. This isn’t music vs. sports. Well, sort of. Yes, people are HELLA passionate about their favorite sports team. But among Gen Pop fans, 75% listed music as a top lifestyle interest vs. 63% who listed professional sports. Music fans are a larger audience, and it drives even stronger emotional experiences for a broader range of people: 90% agree “nothing beats the live music experience”. The emotional connection also makes music fans more receptive: 36% of U.S. music fans are receptive to sponsors.

   Our take: Brands who tap into the emotion around music authentically create a lasting positive impression and don’t have to worry about this season’s performance on the field, ice, court etc.  

HOW:

1. I want a comfortable seat, not wait in line forever, and not pay crazy fees. Is that so much to ask? The tried-and-true brand tactic to eliminate “pain points” will always be a winner, and our FanSpeed study confirms the top fan challenges with live music are currently: high ticket prices (65%), exorbitant convenience fees (54%), and lack of water (46%). So, how can a brand be a true hero to the fan (and the artist) by helping deliver a quality experience to reverse those negative experiences?

   Our take: The top ways fans say brands can positively impact their experience are by providing: early ticket access (70%), VIP areas (70%), early / priority entrance lines (68%), and food / merchandise discounts (67%). These stats show that sponsors can win fans over with straight forward engagements, even while also striving to deliver unique experiences in the music space.  

2. Small(er) budget? Great. Big budget? Even better. Yes, there are category exclusivities but not on entire genres of music, all festivals, or all tours. While fans in our study listed alcohol beverages (94%), food / restaurants (90%) and social media platforms (84%) as some of the best fitting brand categories, there does not appear to be any specific category that is off-limits in the fan’s minds.

   Our take: Brands should get in the mix and have fun exploring all opportunities within this space while also pushing existing partnerships for the scale this space can truly offer.

3. It’s PR not ER. We’re not saving lives, but we can create a lifetime of memories for fans. 71% of FanSpeed respondents said that they “appreciate what sponsors provide to the music festival / concert experience”.  

   Our take: If TSwift can impact the bottom line of the NFL, a toothpaste brand can work with a great artist to create an experience for their fans that is meme worthy and watch their sales skyrocket (or at least induct themselves into the cultural zeitgeist for a while).