![]() On average, they are likely to use various social media three times a day or more.ġ. Even while attending live events, they are also highly engaged across many social networks. While these millenials are twice as likely to be on Facebook than the typical US consumer, there is a much higher chance that they will purchase digital music, in comparison to the average US consumer. In addition, when they become interested in a live event, nearly one third will immediately buy admission tickets during the pre-sale period. They also spend an average of $207 a year on live events, streaming, and digital music, as opposed to the general population which spends only an average of $156 per year. They will travel about 903 miles to attend a music festival, and one in three festival attendee will go to more than one festival per year. Why focus on this demographic area? These festival fans are truly dedicated to being part of pop culture defining events. Almost half are between ages 18 and 34, evenly split among men and women, and many are either Hispanics or African-Americans. To understand the target audience in more depth, about 32 million attend at least one festival each year in the US, according to Nielsen’s Audience Insights Report on Music Festivals. Many well-known music festivals have invested in mobile apps for their events, such as Lollapalooza, Coachella, Bonnaroo, Glastonbury, Austin City Limits, Tomorrowland, Ultra, Electric Daisy Carnival, Outside Lands, Firefly, SXSW, Creamfields - just to name a few. Between 20, music festivals had a 145% growth rate. Out of all the ways consumers spend money on music, buying tickets to live music events accounted for the largest sector by far. According to Statista, the US live music industry revenue in 2015 is 9.28 billion dollars, and has been projected to reach 11.99 million in 2021. In the US, Nielsen Insights found that adults 18+ who have attended at least 1 concert or festival in the past year contribute 60% of their average annual music expense towards live events. ResearchĪs a pop culture defining activity, live music is a multi-billion dollar growing industry. When I am going to the iHeartRadio Music Festival, I want to be ready to see my favorite artists perform, and be exposed to exciting new music, so that I can have a successful experience at the music festival.
0 Comments
Leave a Reply. |