The 25-plus music festivals — some small, some hosted by the likes of Viacom18 and the Mahindra Group — scheduled between December 2022 and March 2023 gives a fair view of the growing audience interest in such events. No wonder, this has piqued advertiser interest, with music-fest advertising raking in almost 70 per cent of the total live event revenues, according to industry estimates.
According to Statista, the live music events segment in India is projected to reach $204.2 million by the end of 2023. With an expected CAGR of 6.26%, the industry is projected to touch $260.3 million by 2027. Industry experts say that up to 1.5 million people already attend these fests every year, providing huge potential for companies to send their message across. “People attending such events are often willing to get out of their comfort zones and try something new,” says Rajni Daswani, director, digital marketing, Socheers. “You can convert them into customers by giving them something that they can return for.”
There are not many estimates going around for the amount of advertiser money poured into these events. In fact, at the moment, they are more a tool for
outreach than anything else, say industry watchers.
Daswani cites the gin festival held in Mumbai in January, organised by the Gin Explorers Club, which saw an attendance of around 60,000 people. The event was marketed as an immersive musical experience in partnership with liquor brands such as Blue Moon, Gordon’s x Jimmy’s, and Hendrick’s, wherein attendees could try different types of gin-based cocktails to see what they like, with a basic entry fee of Rs.800.
Similarly, the world-renowned Lollapalooza music festival debuted in India this year with a line-up that included both global and Indian artistes saw the participation of brands such as Budweiser, Levis, Bumble, Nexa, Snapchat, and JioTV. The event was attended by more than 80,000, according to some estimates, with early bird tickets sold at Rs.7,000.
Most brands agree these events help them reach a young demographic. Gaurav Mashruwala, Business Head, Viacom18 LIVE (Integrated Network Solutions), which organises the VH1 Supersonic music festival, says, “Ours is a premiere destination for youth-oriented brands. It has helped us strengthen our brand saliency and deepen the youth connect. It has also led to a strong recall value among festival goers, turning them into loyalists.” While the company refused to specify the footfall numbers, it said it has already tied up partnerships with Make My Trip, Gold’s Gym, Jimmy’s Cocktails, Under25 Club, Slim Jim, and Impresario Entertainment and Hospitality for the 2023 edition.
For the Mahindra Group, music festivals are a tool to change brand perception. “Over 18 years ago, we had the reputation of being an old-world company with a rugged product base and ‘macho’ customers. However, we had plans to diversify and the need arose to soften our brand. What better way to do that than to host cultural events such as music festivals?” said Jay Shah, vice-president, cultural outreach, Mahindra Group.
Some brands are using these platforms to reinforce shared values. Echoes of Earth, an environment-friendly festival, has partnered with Johnnie Walker and Budweiser. Says Roshan Netalkar, festival director, “It is important for us to partner with brands that share the same ideology. Johnnie Walker has a sustainable mandate globally. Budweiser is working towards empowering its breweries with solar power and reduced water intake.”