US Concert Corporate Sponsorships

Corporate sponsorship of major concert events are expected to rise 3.8% this year in a sign that companies are increasingly devoting money to live music events. Companies based in North America will spend $1.08 billion in music sponsorships this year, compared to $1.04 billion last year. This includes sponsoring tours, festivals, and music venues.

The majority of this increase is in the big festivals like Coachella. Companies understand the ties that are made with consumers at such events.

This IEG Sponsorship Report also noted that local concert series were receiving less money on the whole due to the budget of many corporations for such events being slashed.

Stay tuned,
Erik
erikrostad.com