Marketers have been facing a shift in the way they create their brand engagement models when it comes to Millennials. What once worked for the older generations no longer has the same effect with Millennials. Music festivals for example have quickly taken over as the best way to reach out to Millennials, with companies like Reb Bull, Mercedes-Benz and MasterCard leading the way in music event sponsorship. Millennials prefer to build memories by attending live events. But what are the hard numbers to support this?
Well let’s take a look …
- 93% of Millennials like brands that sponsor live events and 8 in 10 say that the most effective way to connect with them is through a branded live music experience (Momentum Worldwide)
- In the US, 32 million people go to at least one music festival every year (Nielsen)
- 69% of Millennials believe attending events makes them feel more connected to other people, the community and the world (Eventbrite)
- Nearly half of the 32 million (46%) who attend at least one music event every year are aged 18-34, highlighting a huge opportunity for marketers to reach the coveted Millennial demographic (Nielsen)
- 77% of Millennials say some of the best memories of their life have been made at live events (Eventbrite)
- 81% claim that the coolest brand experiences they’ve seen happen at live events (Momentum Worldwide)
- 51% of consumers and 57% of festival attendees favour brands that sponsor a tour or a concert (Nielsen)
- Millennials who engaged in a unique branded experience in the music space have a 37% better perception of the brand. They are 55% more likely to trust the brand. They are 59% more likely to perceive the brand as authentic than Millennials who did not attend a live experience. They are also 46% more likely to purchase from that brand and 62% more likely to recommend the brand than Millennials who did not attend a live event (Momentum Worldwide)
- 79% of Millennials feel that going to live events with family and friends helps deepen their relationships. In fact, 30% of Millennials say they met someone at a live event that became a good friend (Eventbrite)
- 31% of Millennials are more likely to like brands in the music space, but more importantly, they are more likely to trust (53%), purchase (37%) and recommend the brand (58%) than Millennials who did not receive exclusive content (Momentum Worldwide)
- 70% of Millennials say that social interaction actually improves the live music experience for them (Momentum Worldwide)
- Millennials in the US spend big on music, an average US$207 per year on live events, digital music and streaming (Nielsen)
If you weren’t confident that live music events were the right decision for your brand before, you’re probably rethinking that right now.
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