Millennials (that's 18-34-year-olds) are more like to recommend brands who sponsor music events.
That's according to a new study, conducted by music marketing agency Momentum Worldwide and concert promoter AEG Live, who surveyed 1,048 people (75% of whom were aged 18-34).
93% of millennials said they like brands who sponsor live music events, while four fifths claimed branded gigs and festivals were the best way to engage with them.
Millennials who went to at least one live music event (gig or festival) in the past year were also more likely to trust brand partners (83%), purchase their products (55%) or recommend brands on social media (80%). Nearly 89% said they would perceive a brand as 'authentic', against 56% who responded the same but were non-attendees.
Billboard reports that more than 14.7 millenials go to at least one music festival every year - but that doesn't mean all of them are remembering brand names. Said Glenn Minerley, VP group director of music and entertainment at Momentum Worldwide: “Millennials aren’t always retaining which brands they interact with at live music - that’s a real gut check for us. The industry’s just not doing music-marketing experiences right -- it’s not about putting a car on a pedestal in a festival village anymore."
Scott Carlis, vice president-digital, social media and marketing at AEG Live, added: "70% of respondents told us [social media] actually improves the live event experience. That makes it critically important for us on the corporate and business side to make sure we have the opportunity to create social-media channels that work and function optimally, and share that intelligence with our clients to make sure they have the right mobile-first creative programming in place.”
The survey also found that millennials are still fans of owning music, with 78% saying that typically buy music after a live event, in comparison to the 73% who said they would stream.
Exclusive content is also important; 37% said they would be more likely to purchase a brand's product if it provided exclusive content. 58% said they would be more likely to recommend the brand.