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Brands & Merch Business News
Streaming platforms and live events good homes for music-supporting brands
By Chris Cooke | Published on Friday 8 November 2013
Consumers who use streaming music services are more likely to feel more favourable to a brand if it engages in music-based marketing activity than consumers who do not stream.
Which isn’t especially surprising, given that streamers are presumably more committed music fans, who are therefore going to be more appreciative when a brand provides some kind of added-value music experience for free. But presumably the advertising and brand partnership teams of all the streaming music platforms will nevertheless leap onto this conclusion from a recent Nielsen report. And why not?
74% of the streaming platform users surveyed by the stats firm said they felt more favourable to brands involved in music giveaways or sponsorship, compared to 58% of non-streamers. Streaming consumers also seemed to spend 54% more on music products, again probably not surprising, but a stat that will help the digital firms sell their promotional services to music companies too.
Especially as the survey reckoned that of those currently subscribing to a premium streaming service, not only are they more likely to also buy music products, but over half said they could afford to buy more music things than they currently do, if only the right products were put in front of these people in the right way.
Opportunity-tastic then. Nielsen’s ‘2013 Music 360’ report also bigs up the value of brands supporting live events; but let’s not dwell on that, I don’t think any of us want even more brand money going to Live Nation. Well, unless it’s some of the brand cash that usually finds its way into the sports sector, which – according to Neilsen – currently receives over half of the $19.9 billion American brands spend on sponsorship every year.
