Live Music Drives Sales, Streaming From Millennials, Study Shows

photoLive music is a key driver for brands seeking deeper recognition and loyalty from millennials, according to a new study from New Momentum Worldwide Research, commissioned by AEG.

Among the findings:

For Millennials, Live Music Drives Online Sales and Streaming 
— More than 83 percent of millennials plan to attend a music experience in the next 12 months. Additionally, 78 percent of respondents say attending live music makes them want to purchase more music online, while 73 percent say seeing live music makes them want to stream more music.

Association With Live Music Experiences Improves Millennials’ Perceptions of Brands
— 89 percent like brands that sponsor a live music experience (vs. 63 percent among non-attendees)
— 83 percent trust brands that support a live music experience (vs. 53 percent among non-attendees)
— 80 percent buy products from brands that sponsor a live music experience (vs. 55 percent among non-attendees)
— 80 percent recommend brands that sponsor a live music experience (vs. 49 percent among non-attendees)
— 89 percent perceive brands as more authentic when sponsoring a live music experience (vs. 56 percent among non-attendees)
— Millennials who engaged in a unique branded live experience in the music space have a 37 percent better perception of the brand, are 55 percent more likely to trust the brand, and 59 percent more likely to perceive the brand as authentic than millennials who did not attend. Additionally, they are 46 percent more likely to purchase the brand and 62 percent more likely to recommend the brand than millennials who did not attend a live event.

Power of Exclusivity
— 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 percent more likely to like brands in the music space, but more important, they are more likely to trust (53 percent), purchase (37 percent), and recommend the brand (58 percent) than millennials who did not receive exclusive content.

Social Media Complements Live Experiences
— 70 percent of millennials feel social media improves the live music experience, while 32 percent feel it greatly improves the experience.
— 68 percent of millennials share music moments on social media while attending live events

Mobile Access Translates To Ticket Sales
— 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 percent) vs. (24 percent) of non-millennials.

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Category: Featured, Sales/Marketing

About the Author

Jessica Nicholson serves as the Managing Editor for MusicRow magazine. Her previous music journalism experience includes work with Country Weekly magazine and Contemporary Christian Music (CCM) magazine. She holds a BBA degree in Music Business and Marketing from Belmont University. She welcomes your feedback at jnicholson@musicrow.com.

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