U.S. consumers are eager to the put the winter of 2013–2014 and its polar vortex behind them. One way to celebrate the return of the warm weather is to attend a live stadium concert. A recent Wall Street Journal article highlighted how the live concert industry is on track to generate record revenue this summer.
During the recession, the concert industry suffered significant losses and, as a result of that experience, promoters and musicians have come up with new ways to entertain fans and generate revenue. Industry experts note that sponsors are creating more music festivals this summer. Both new and established festivals and artists are selling out quickly and for great prices.
This summer, concert promoters will use social media to connect with fans and other likely concert goers. They’ve also improved their methods of selling tickets, especially on mobile platforms. Additional services, such as reserving lawn areas and making “ticket-buying simpler and prices more transparent” are also boosting interest in concerts and festivals.
Musicians are working harder to reach out to fans and super-fans. They’re likely to move through different areas of the stadium while performing and to turn to high-tech tools to make a lasting impression. These live events are critical to a musician’s income because sales of albums and digital music bring in less money than before. Well-known musicians like Bruno Mars are apt to headline major festivals which draw 80,000 spectators while ‘boutique’ festivals emphasize access to emerging artists who perform before crowds of fewer than 20,000 people. Concert promoters should roll out their marketing campaigns early to capture their share of this audience's entertainment budget this year.
About 30% of consumers say they’ve attended a concert given by a popular singer or band in the past 12 months. Ad-ology Research reports that the Concert Attendees audience skews slightly female, 51.1%. Just over half, 57.2%, of these consumers also enjoy attending live sporting events. Promoting concerts on radio may be a good way to reach this audience. 62.5% of these consumers say they’ve taken action because of a radio ad they heard in the past 12 months, which is 16% higher than average.
AudienceSCAN data is available as part of a subscription to Ad-ology PRO. Media companies can access AudienceSCAN data through the Audience Intelligence Reports in AdMall.