NEW MOMENTUM WORLDWIDE RESEARCH WITH AEG SHOWS HOW LIVE MUSIC EXPERIENCES DRIVE MUSIC SALES AND VICE VERSANEW YORK, Oct. 1, 2015 — (PRNewswire) — Music marketing and brand experience agency Momentum Worldwide, with leading sports and entertainment presenter AEG, has conducted the premiere research study aimed specifically at identifying the connection between live and digital music behaviors. Among the findings is that millennials, defined as people ages 18-34, want to see brands in the music space and enjoy seeing them there.
This is especially notable because of the important role music plays in the lives of millennials, 81% of whom said music triggers their best memories. Millennials listen to 6-10 hours of music every week, compared to non-millennials, who report 1-5 hours. The research's data shows the acceptance and popularity of music for delivering brand messages. Of millennial respondents who engaged in a branded music experience, 93% like brands that sponsor live events; while 8 in 10 say the most effective way to connect with them is through a branded live music experience. Moreover, 81% of millennials claim that the coolest brand experiences they've seen are around live events.
The research was created to examine real life and digital music behaviors tied to sharing, discovery and purchase across all age groups. The data illustrates which behaviors define those connections and the motivations behind some of the more measurable behaviors. Main focus areas included: the value people find in the modern live music experience, and how they choose which experiences to participate in; how popular social channels contribute to real life experience; and how brands can be an authentic part of the live/digital music ecosystem.
"When it comes to connecting with consumers, especially millennials, music is one of the most effective ways. For brands, the opportunity exists within music to create value for their customers and build a lasting relationship unlike any other," according to Glenn Minerley, Momentum Worldwide's VP, Group Director – Music and Entertainment. "This research proves that people welcome brands into their music experiences; it's the brand and marketing world's challenge now to do so in a way that is unobtrusive, memorable and provides authentic value to both sides. There's never been a better time to align brands and music."
The report underscores the incomparable power of live events to drive consumers to recommend and buy brands—especially among millennials. This research proves that live events have the greatest and most positive impact on consumer behavior across the entire "purchase funnel," and demonstrates the primacy of live events to mobilize consumers to share these experiences across their social networks.
Further insights from the study include:
- Live Events & Brands: Live music is the key driver for brands to deepen their impact among millennials. Those who recall attending live music events are significantly more likely than those who have not attended live events to engage with brands—forging greater brand affinity, elevated brand trust, and increased purchase intent.
- Brand Love: 89% like brands that sponsor a live music experience (vs. 63% among non-attendees)
- Brand Trust: 83% trust brands that support a live music experience (vs. 53% among non-attendees)
- Purchase Intent: 80% buy products from brands that sponsor a live music experience (vs. 55% among non-attendees)
- Social-Sharing: 80% recommend brands that sponsor a live music experience (vs. 49% among non-attendees)
- Authenticity is Key: 89% perceive brands as more authentic when sponsoring a live music experience (vs. 56% among non-attendees)
- Brand Experiences Drive Trust and Purchase: Millennials who engaged in a unique branded live experience in the music space have a 37% better perception of the brand, are 55% more likely to trust the brand, and 59% more likely to perceive the brand as authentic than millennials who did not attend. Additionally, they are 46% more likely to purchase the brand and 62% more likely to recommend the brand than millennials who did not attend a live event.
- Exclusivity Yields Brand Love: Millennials who receive exclusive content from brands in the music space are significantly more likely to reward the brand than millennials who did not receive exclusive content. They are 31% more likely to like brands in the music space, but more important, they are more likely to trust (53%), purchase (37%), and recommend the brand (58%) than millennials who did not receive exclusive content.
- Social + Live Power: 70% of millennials feel social media improves the live music experience, while 32% feel it greatly improves the experience.
- Photos of artists and friends top the content they want to share
- Photos and videos of artists top the content they want to see friends sharing
- More than 70% of millennials follow musicians on Facebook
- 68% of millennials share music moments on social media while attending live events
- Ownership Rules: Owned music that is purchased is important to 77% of millennials versus streaming. It is the preferred music for a variety of situations including exercise and entertaining.
- Live Appeal: More than 83% of millennials plan to attend a music experience in the next 12 months. Additionally, 78% of respondents say attending live music makes them want to purchase more music online. 73% say seeing live music makes them want to stream more music.
- From Digital-First to Mobile-First Consumers: Mobile impacts every stage of the customer journey for live music fans—from discovery, to purchase, to the live experience, to after the show. Millennials are significantly more likely to use their mobile device to purchase tickets to live music experiences. Nearly half use mobile phones to purchase tickets (46%) vs. (24%) of non-millennials.
"If you're a brand, you want to be associated with someone having a transformational moment in their life, and for many people, live music experiences do just that," said Scott Carlis, Vice President, Digital, Social Media & Marketing at AEG Global Partnerships. "What this research shows is that consumers will reward brands for interactions in the live music space that enhance or add value to their experience, which gives brands the opportunity to play the hero of those transformational moments."
The survey accounts for 1,048 total responses, age 18 or older. 75% of the panel—recruited from an online panel provided by Qualtrics—were millennials.
ABOUT MOMENTUM WORLDWIDE
Momentum Worldwide is built on the simple truth that it's not what brands say, it's what they do that matters. That's why Momentum delivers total brand experiences for our clients, guided by the belief that today the most important product a brand makes—other than the product itself—is an experience. The experiences we build live seamlessly in the physical and the digital worlds—what we call integrated phygital experiences. Working across sports, events, music and entertainment sponsorships, advertising and activations in all media including social and digital, product and package design, and all shopper and retail channels, Momentum's work is driven by bringing tangible value to brands and consumers wherever they may be. Part of the Interpublic Group of Companies (NYSE: IPG), we operate in over 40 countries for partners including American Express, Coca-Cola, Mondelez, Verizon, Walmart, William Grant & Sons, and many more.
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AEG is one of the leading sports and entertainment presenters in the world. AEG, a wholly owned subsidiary of the Anschutz Company, owns or is affiliated with a collection of companies including over 100 of the world's preeminent facilities such as STAPLES Center (Los Angeles, CA), StubHub Center (Carson, CA), Best Buy Theater (Times Square, New York), Mercedes-Benz Arena (Shanghai, China), Allphones Arena (Sydney, Australia), Brisbane Convention and Entertainment Center and The O2 arena and entertainment district (London, England). Developed by AEG, L.A. LIVE is a 4 million square foot / $3 billion downtown Los Angeles sports & entertainment district featuring Microsoft Theater, the Regal Cinemas L.A. LIVE Stadium 14 theater, 19 restaurants the GRAMMY® Museum and a 54-story, 1001-room convention "headquarters" hotel/destination. In addition to overseeing privately held management shares of the Los Angeles Lakers, assets of AEG Sports include franchises such as the LA Kings, LA Galaxy and Houston Dynamo and the Amgen Tour of California cycling stage race. Along with AEG Facilities, other global divisions include AEG Live, the world's second largest concert promotion and touring companies comprised of touring, festival, exhibition, broadcast, merchandise and special event divisions and AEG Global Partnerships, responsible for worldwide sales and servicing of sponsorships, naming rights and other strategic partnerships. In 2010, AEG launched its AEG 1EARTH environmental program featuring the industry's first sustainability report while in 2011, AEG introduced AXS a comprehensive entertainment platform serving as the company's primary consumer brand including AXS Ticketing which provides fans the opportunity to purchase tickets directly from their favorite venues via a user-friendly ticketing interface, Examiner.com and the AXS TV network.