SOURCE: Eventbrite

Eventbrite

August 03, 2016 12:00 ET

Exclusive Eventbrite Research Indicates Strong Consumer Demand for Music Festivals Amidst a Crowded Market

Festival-goers attend two to three per year on average and 56 percent plan to attend even more in the coming year; Headlining artists are single most important factor in driving attendance; One in five festival-goers spends more than $1,000 annually on tickets to music festivals.

SAN FRANCISCO, CA--(Marketwired - August 03, 2016) - Eventbrite, the world's largest event technology platform which powers two million events around the globe each year, today released new research that unveils key drivers of music festival attendance and spend. The company partnered with independent research firm, MusicWatch, Inc., to survey over 1,000 18-49 year olds in North America that attended at least one music festival in the past 12 months. Key insights include:

Festivals Continue to Capture Hearts and Wallets

Overall demand appears to be increasing among festival-goers: nearly 40 percent surveyed (38 percent) attended more this year than last, far outnumbering the 21 percent that attended fewer (41 percent attended the same). Looking ahead to the coming year, interest continues to be strong with 56 percent of festival-goers planning to attend even more. On average, they attend two to three per year and spend about $150 per ticket. Seven out of ten report music festivals give them a feeling of community they value and 80 percent plan to attend festivals for at least a few more years. While nearly two out of three (62 percent) invite friends and family, 56 percent would go to a music festival by themselves if they really wanted to attend.

Headliners Are The Single Top Reason To Attend

A variety of factors including cost and location impact their decisions to attend, however one-third of festival-goers report headlining artists as the absolute most important. The majority (56 percent) would rather see their favorite artist headline a festival than play a standalone show and 44 percent said they attended more festivals this year than last because the artist line-ups were more appealing. For the one in five attendees who went to fewer festivals this year, less-appealing artist line-ups was cited as a top reason, behind time and money.

Festival-Goers Have Appetite for New & Niche Despite Being Drawn to Mainstream

Coachella, Bonnaroo, and Lollapalooza were mentioned as the top three festivals attended by survey respondents. However, half of festival-goers reported they would rather attend smaller, niche festivals catering to their specific interests over mainstream festivals. Nearly 50 percent believe there aren't too many festivals today (23% were neutral) and while they demonstrate loyalty by attending their favorite festival an average of two times, more than 40 percent revealed they would rather go to a new festival they haven't been to before over one they've already attended in the past.

"Affinity for the music, community, and social experiences of festivals is incredibly powerful, but with more festivals in the market than ever before, it's become increasingly hard for those in the industry to differentiate themselves and ultimately turn a profit," said Russ Crupnick, Managing Partner, MusicWatch Inc. "Our research identified a key segment of valuable festival attendees who drive the lion's share of the business. These hardcore fans are consistently outranking casual festival-goers in virtually all aspects of spending, attending, influence, and engagement."

Hardcore Festival-Goers Spend Over $1,000 Annually on Tickets to Music Festivals

This group of frequent festival-goers made up 20 percent of attendees surveyed but drive more than half of the total annual spend on festival tickets. They average between five and six music festivals each year and spend 78 percent more on a typical festival ticket than people who attend 1 festival a year ("casual festival-goers"). Two out of three attended more festivals this year compared to last year and 69 percent plan to attend more next year. This primarily millennial group is willing to pay a premium for an upgraded experience; nearly 3 in 4 have purchased a VIP ticket in the past (compared to 1 in 4 casual festival-goers). When asked about the most they ever spent on one festival ticket, they responded with an average of $419, a full 57 percent higher than the typical North American festival-goer.

"Being ingrained in this business for the past decade, we've witnessed consolidation of key industry players alongside the entrance of new niche festivals and a consistent theme from festival producers and fans alike has been the desire to preserve the authentic atmosphere that makes these experiences so transformational," said Martina Wang, Head of Music and Entertainment at Eventbrite. "Our research indicates that not all festival-goers are created equal and that perhaps the best way for those in the industry to continue to thrive is by tapping into this core group of hardcore fans and what ultimately keeps them coming back for more."

To view the full research and learn more about hardcore festival-goers, please visit www.eventbrite.com/hardcore-festies.

Eventbrite, which has processed tens of millions of tickets to hundreds of thousands of music events, currently tickets popular festivals including BottleRock, Lightning in a Bottle, Eaux Claires, Boots & Hearts, WayHome Music Festival, and most recently added Sound on Sound to its expanding music festival roster. To learn more about Eventbrite for music events, check out www.eventbrite.com/music.

About Eventbrite:

Eventbrite is the leading global event technology platform. The company has processed over $5 billion in gross ticket sales since inception and powers more than 2 million events around the world each year. Built with a focus on reliability and scale, the platform serves hundreds of thousands of event organizers, including Tough Mudder, Tribeca Film Festival, BottleRock, Maker Faire, Wanderlust, and many more. Organizers use Eventbrite to help boost ticket sales, promote and manage events, and analyze results across multiple sales channels: web, mobile, point-of-sale, and a growing distribution platform. Tens of millions of people also use Eventbrite every year to discover a variety of live experiences and get tickets on a safe, easy-to-use platform - from photography classes and obstacle runs to large concerts and festivals with tens of thousands of people. Founded in 2006 and headquartered in San Francisco, the company has a team presence in 8 countries and processes tickets in 180 countries. Investors include Sequoia Capital, Tiger Global and T. Rowe Price. Learn more at www.eventbrite.com.

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