PPB February 2020

Listen To The Music There’s magic—and money—in the music festival market. Here’s why promotional products should headline marketers’ campaigns. Music Festivals by Audrey Sellers M usic fans have long adoredmusic festivals and the experiences they bring. Iconic events such as Woodstock have brought people together, marked time and made history. For many, a music festival isn’t just an event; it’s a cultural moment. More than half of festivalgoers (63 percent) say attending a music festival was a life- changing experience, according to Cloud Cover Music. Even in a digital music era, fans still flock to festivals. NielsenMusic estimates that nearly a quarter of the U.S. population attended a music festival in 2018, up from 18 percent in 2017, the biggest year-over-year growth of any kind of live music event. These festivalgoers are willing to spend big on the experience—somuch so that one in four are currently paying off festival- related debt, according to Compare Cards by Lending Tree. Festivalgoers who want to nab a festival pass for Coachella 2020 could easily shell out more than $2,000, according to Money magazine. Spending isn’t expected to slow anytime soon. By 2022, the live-music industry will be worth $31 billion worldwide, according to PricewaterhouseCoopers. Whether festivalgoers trek across the globe to see their favorite artist or they discover a gem at a local music event, they’re ready to embrace the experience. Smart marketers can get in front of the party-ready masses with promotional products. According to Nielsen, 23 percent of festivalgoers buy artist merchandise onsite. What’s more is that approximately 80 percent of merchandise sales for bands and artists come from live events such as music festivals. Promotional products aren’t limited to the festival merchandise tent, though. Brands can get involved inmusic festivals through anything from sponsoring a stage to setting up exclusive lounges or securing pouring rights. According to IEG, brands spent an estimated $1.6 billion to sponsor music festivals in 2018, up from $1.3 billion in 2013. The average music festival now has more than 15 sponsors. If you want to see your clients’ brands take center stage in the music festival market, read on. We’ll show you how to drumup brand awareness and engage with festivalgoers using promotional products. GROW 36 | FEBRUARY 2020 |