Compete and Win

The joy of defeating another competitor, a chance to be the best, and last but not least, an exciting reward – these are lucrative enough to infuse excitement in your audience. A competitive event is a great attraction, and people love to be a part of it. Build the competition keeping your products and services in mind. Say, a music concert organizer can host a singing competition or quiz competition about the bands that will be performing at the concert.

Imparting Learning Opportunity

How about organizing an event where the audience can only learn and learn more? Giving your customers an opportunity to learn something new will go a long way in creating a lasting impression about your brand. For instance, a mobile applications development company can invite people to learn how to use their latest developed and know its benefits. Such learning events evoke interests among them.

Hands on Experience

See it, do it, play it – that’s what interactive events are about. Let the people interact with the employees and get hands on experience about their services to better understand how they work and what customers will get out of them. The advantage of an interactive event is that it gives spontaneous reactions.

Just for Fun

Sometimes, holding fun events, with the sole motive of having some enjoyment, does the job itself for your brand marketing. Organizing fun events for children and parents or for the whole family give them a good bonding time. This works wonderfully for some health-oriented company or children food company.

Expert Opinion Matters

Invite an eminent personality and let him/her speak about your business and services. When an expert speaks, it matters. All like-minded individuals connect at interactive lecture events to build network and exchange ideas.

All for a Good Cause

People love to contribute in their capacity for a noble cause such as charity, and organizing a non-profit fundraising event let them fulfill some wishes of the needy. In collaboration with an NGO, host a charity event that is engaging. This uplifts your company in social status and gives free publicity.

Building Network

Hosting a networking event keeps your brand name buzzing. Network event provides a platform for customers and potential clients with common interests to interact and get along over a glass of wine, chatting and sharing their business or service experiences.

Social Media always Effective

Social media can effectively reach out to most of your target audience. Google Hangouts, live chats on Skype, engaging posts or contests on Twitter, Facebook and webinar are some modes to have one-to-one interaction with your customers. Anything on social media spreads like wildfire, so make the best use of it.

Going Hand in Hand

Partnership helps in widening up the business prospects for both the parties. For example, a cookware company can partner with a food spices making company for an event wherein the audience cook using both the company’s products. This will mutually benefit each other, plus showcase two different products at one time.

Successfully marketing an casino event is quite challenging, but using one of these ideas will add sparks to your casino event and make it a memorable one.

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If we analyze the below pie chart we will find that the greatest revenue contribution to the event industry in 2012 was from men and women aged 21-45 years, who collectively spent over $11 billion and comprised approximately 50% of total industry spend.

However, while men and women aged 21 – 45 years may seem to be the high potential target, one must also consider the types of events that these segments prefer to attend.

According to IBIS World report, live music concerts and sporting events have predominantly targeted men and women aged 21 to 45. This has been the case over the past five years because this age group is most consistently employed and, thus, has the disposable income to spend on events.

However, the trends have been shifting toward targeting people over 45 who are often more established financially and have more available free time.

University undergraduates, age 20 years and younger diverge widely in line with the industry’s wide range of events. Customers at sports events are generally male and younger than customers of performing arts productions.  The average university undergraduate patron aged 20 – 21 years also attends a number of other arts performances, mainly musical concerts, theater and museums. There is another segment, female, unmarried and older than 35 who also prefer to attend these types of arts performances.

There is another segment that we can’t overlook — Corporates. Their support for this industry is usually in the form of purchasing premium seating (or private boxes) or sponsoring events. Corporate interest is most often directed toward large sporting events (which is separate and apart from sponsorship revenue). This segment is estimated to have generated 10.0% of revenue in 2012.

Hope you will find this blog interesting and helpful. Please share your comments and thought with us.

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But where might the greatest opportunities lie for new event presenters? Let’s take a brief look at some of the key segments of the live music industry statistics:

he music festival industry growth has been massive. According to the live entertainment industry statistics,  concerts make most of the music industry revenues: an estimated 58.1%. Events in this category include performances at clubs, music theaters, arenas and amphitheaters, as well as local and regional music festivals. Events can array in size from an audience of fewer than 500 people to more than 100,000. As a part of industry revenue, live music concerts segment has experienced slight increases during the five years to 2012. The number and acceptance of club and theater-level concerts has grown in line with consumers’ increasing use of the internet as a tool for music discovery.

Non-franchise sporting events, such as boxing matches and rodeos, are projected to collect about 14.6% of industry revenue in 2012. Sporting events incline to be less price sensitive than arts-related events. This nature is partly due to the partisanship surrounding sports teams. Moreover, sporting teams can perform using the same equipment at every show (e.g. an ice hockey rink or basketball court), which also lowers the cost of staging a performance.

Theatrical performances, such as plays, musicals and operas, account for an estimated 15.6% of the music industry revenues. Demand for this segment has declined slightly over the past five years due to declines in gifts, donations and grants supporting performing arts. Other events include state fairs, agricultural fairs, pageants and all other festivals and events that are not related to sports or performing arts.

We hope you have enjoyed reading the blog and find the details informative and useful.  Stay tuned with Yapsody for more live music industry statistics related news and statistics. The more you will know about live music industry trends, the more you will get success with your event.

Please feel free to contribute your thoughts on the music festival industry growth and share your comments.

The post Live Music Industry Trends: Concerts Highest Revenue Generator appeared first on Yapsody.