Traditionally, festivals have dominated the live music sponsorship ecosystem. But that’s beginning to change. In fact, a third of surveyed venues already rank sponsorship as a “very important” revenue stream for their room. Soon, sponsorship dollars will be a vital way for venues to protect their business and stay in the black.
Venues entering the sponsorship world can certainly learn from festival sponsorship models — but venues also have an advantage over festivals when attracting sponsors. Unlike festivals, venues can craft concert sponsorship packages for shows year-round.
“What any venue has to offer is a great variety of events and attractions over the course of a year,” says John Riccardi, a strategic account manager at Eventbrite. “A festival is one big event or celebration. But a venue has the luxury of producing events regularly, and can drop in sponsors ad hoc as they go.”
Venues also attract a more diverse audience than festivals thanks to the variety of bands performing each night. This diversity helps “expose sponsors’ brands to a greater variety of attendees than a festival alone,” Riccardi says.
Here are three ways venues can take advantage of their inventory to craft concert sponsorship packages that brands can’t resist.
Get all the sponsorship insights you need in The New Era of Concert & Music Festival Sponsorships.
1. Offer co-branded custom concerts
Beyond your usual shows, you can also offer custom events to brands.
“Ownership is a big thing for brands, which is why you see a lot more shows hosted by them,” Adam Cohen, an account manager at Cornerstone Agency, says. Your room could become the space for these brand-hosted shows.
If the brand already has a space or storefront they want to use, you could offer your booking and promotional expertise. “We can come in and curate a series at their store,” says Adi Anand, the director of business development for Sound on Sound Fest. “We can book four shows for them in a season at their stage. We’ll handle production and marketing, and sponsors can hide VIP tickets in the store or do a sweepstakes for customers.”
2. Craft concert sponsorship packages for hyperlocal businesses
Local brands have smaller budgets than national businesses — but they’re also a natural fit for many rooms. “There are interesting hyperlocal sponsorships for local venues,” Eventbrite’s Biasha Mitchell says. For local brands, your venue’s fans are the exact audience they want exposure to.
There are countless ways to engage these sponsors without the level of effort that would need to go into a national brand partnership. These strategies can also be effective for festivals that attract mainly a local audience. Here are a few simple offers that venues and festivals alike can use to engage local companies:
- Naming rights. This type of agreement typically includes language like “In partnership with [BRAND]” or “event brought to you by [BRAND]” in the name of the show.
- Ticket giveaways or meet and greets. Partner with a brand to do ticket giveaways. For example, a purchase at the store within a certain time period could enter fans in the sweepstakes. Or, a brand could sponsor a meet and greet with the artist, either after the show or at their own store earlier in the day.
- Activations at the show itself. While most rooms have limited real estate inside the venue, it’s usually possible to find space for one sponsor. “At the concert, give them a space to vend, sell, and be exposed to the crowd,” Anand says.
Keep in mind that these businesses often have tight budgets. “When first approaching sponsors, don’t jump the gun and say you need this much money,” Thomas says. “Take the long-term strategic view to work with them on one project, and then see if that relationship can expand.”
3. Think about customer service as part of your concert sponsorship package
Sponsorship engagement doesn’t have to be limited to the walls of your venue. Think about local services that would make it easier or more affordable for fans to get to shows.
For example, Nick Lippman, a partner at Lippman Entertainment and manager for Matchbox 20, recently organized a partnership with Lyft and the babysitting app UrbanSitter for the band’s upcoming tour. Both services will be offering a discount on the website and app for Matchbox 20 fans.
“I wanted to best cater to my target demographic to get them out of their homes and into our shows,” Lippman says. “The partnership was a way to get more butts in seats, because I eliminated a cost that could influence whether fans choose to go to the show or not.” When sponsorships can improve the customer experience, everyone wins.
Get all the insights you need to make sponsorships a key part of your venue’s business in The New Era of Concert & Music Festival Sponsorships.
