Nielsen Insights: Live Concerts Rule In a Digital Age
November 10, 2016 at 11:33 AM (PT)
The latest NIELSEN LIVE EVENT 360 report shares its findings, which are summarized by the INSIGHTS blog, "Keeping It Real: Understanding Live Event Behavior and Sponsorship Opportunities." Among other findings, the study notes that, in the wake of digital technology, "the live event, a decidedly traditional format, is re-gaining importance."
U.S. adults 18+ who have gone to at least one concert/festival in the past year spend 60% of their average annual music on live events, but only 12% on satellite radio and streaming subscriptions and 12% on CDs/vinyl. This group’s spending focus has opened new opportunities for concert/festival ticket sales, merchandising, and brand partnerships. According to the report, radio and word-of-mouth are the biggest drivers of music festival awareness, which is important for brands "looking to maximize their media impact of sponsorships at these events."
Rather than broad branding, live music attendees want tailored activations, gifts and experiences from companies. For example, 69% of Millennial music event attendees and 79% of Hispanic music event attendees say they would view a concert sponsor more favorably if it handed out branded merchandise.
Digital platforms still play a vital role in spreading the word about a live event, before, during and after the fact. For example, 34% of live attendees who are unable to attend live events say they follow along on social media, 21% say they read reviews and 17% text people who are in attendance. In addition, 29% of live music attendees say they check artists’ websites and social media accounts after events.