How to Secure a Music Festival Sponsor in 2023 and Beyond
The revenue generated from sponsorship is a key element of any music festival’s overall income and many couldn’t exist without it. There are a number of factors currently impacting on music festival sponsorship, what should organisers focus on to secure this vital revenue stream this year and beyond.
Traditional sponsors investing in music festivals have come from the beverages sector, particularly beer and other alcoholic drinks with other popular sponsor industries including financial services and telecoms. Sponsors are interested in reaching specific target audiences, so it is essential that festival organisers have a full understanding of their festival-goer demographics and profiles. If there is a good target audience match and the organisers can provide comprehensive support with branding and marketing opportunities the chances of securing a good deal improve.
Countries around the world are currently tackling high inflation and high interest rates with many people struggling to pay for increased energy costs in an environment where real wages are falling. Corporations are expected to have minimal growth this year and stories of staff layoffs and a looming recession are rampant in the mainstream media. These economic factors will surely impact on sponsorship budgets making it more difficult for festival organisers to get a piece of a decreasing sponsorship pot. Organisers should focus on chasing sectors and potential sponsors who have switched their sponsorship budgets to more ‘on trend’ areas.
Trending topics popular with potential sponsors currently include sustainability and diversity and inclusion. It is not unusual for music festival-goers to be amongst the most concerned and vocal about these issues making them an ideal target audience for corporate sponsors who want to demonstrate their commitment to these issues as part of their social responsibility. Whether it’s initiatives to tackle climate change, a reduction in carbon emissions or recycling, sponsors can use a festival to communicate to this key audience. This can work really well where festival organisers have their own sustainability initiatives which can be branded and funded by a corporate sponsor. Corporate sponsors use similar co-operation initiatives to show their commitment to diversity and inclusion in their organisations and prefer to work closely with festival organisers who highlight this with their artist line-ups for example.
Corporate sponsors are changing and adapting how they engage with festival audiences and organisers need to provide environments that embrace these demands. Sponsors are making more use of technology like augmented reality, virtual reality, and interactive installations to create immersive experiences for festival-goers. Marketers responsible for sponsorship budgets are interested in creating Experiential Marketing which may involve creating interactive activations and installations that allow festival-goers to engage with the brand and create a memorable experience.
For festival organisers planning their events using a software management platform like Festival Pro gives them all the functionality they need manage every aspect of their event logistics. The guys who are responsible for this software have been in the front line of event management for many years and the features are built from that experience and are performance artists themselves. The Festival Pro platform is easy to use and has comprehensive features with specific modules for managing artists, contractors, venues/stages, vendors, volunteers, sponsors, guestlists, ticketing, cashless payments and contactless ordering.
Photo by Darlene Alderson via Pexels
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