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EDM Festival Target Market Segmentation

Posted by on Nov 20, 2016 in News

EDM Festival Target Market Segmentation

Interestingly enough who an EDM listener is might not always be who actually attends an EDM festival, but someone who does listen to EDM will almost most certainly attend a festival. In order to accurately segment a target market, we will assume that our target market is anyone who falls into the category of a millennial, since almost 90% of Euphoria Festival’s attendees are just that.

Demographic Segmentation

 Painting the target market in broad strokes EDM is the genre that defines millennials which are loosely defined as Americans born in the mid to late 1980s to late 1990s. There are 83.1 million millennials (2015) in the US of which 32 million went to at least one music festival in 2014. (Lynch, 2015) (“Millennials Outnumber Baby Boomers and Are Far More Diverse, Census Bureau Reports,” 2015) Solely looking at current target market demographics in mature EDM markets like North America or Europe we can build a pretty accurate profile of who an EDM listener is and who is more likely to frequent EDM festivals. The average EDM listener is male (55% male / 45% women) however actual attendance of festivals swings in favor of females with one study showing females making up 56% of total attendance. (“Music Festival Study,” 2014) (49% male / 51 female from Euphoria Music Festival). The EDM fan base is primarily between the ages of 18-24 or 17-21 depending on segmentation method, which is slightly younger than what most researchers in the US define as a millennial. (“WHO IS THE ELECTRONIC MUSIC LISTENER?,” 2015 ) Some festivals that have been around for longer than a decade, like Burning Man, still have only a slightly negative correlation between age and attendees but younger festivals, like Tomorrowworld, have an extremely strong negative correlation. (Clark, 2012) Obviously, due to the age range, the education level of the majority of EDM fans is in ascending order: some college, high school, and graduated college. Household income is also not very surprising with $25,000-49,000 and $50,000-74,000 making up 27% and 23% of the EDM fan base globally. As an attendee’s income increases towards the very wealthy upper class and the second generation rich, their assumed reason for attending is not that they listen to EDM but rather functions as a playground for younger millionaires to publicly showcase their wealth and have some rather expensive fun. Millennial’s political affiliation leans towards social liberal and democratic with a very fragmented political identity based primarily off of ethical issues, not economical ones.

Primary Behavioral Segmentation

Behavioral segmentation starts with EDM fans being described as “Hypersocial” or “hyper-active” which revolves around their extremely active and vocal online presence and preferences. One study stating EDM fans tweet 1.85x more than other twitter users (Towns, 2014) and another stating they tweet almost 34% more than the average tweeter user. Coachella, in California, saw over 3.5 million tweets during just one weekend in April 2015 (Lynch, 2015). They don’t just go to social media about their favorite pastime but also generate approximately 72% more online conversations about non-music related topics. This number becomes even larger jumping to 4 times the national average when looking at conversations online about entertainment based topics, like television shows or celebrity gossip. (“Music Festival Study,” 2014).) EDM fans are so hypersocial that some platforms have based entire campaigns or even product launches hinged upon an EDM festival. Snapchat launched their “Our Story” feature in sync with Electric Daisy Carnival in Las Vegas in 2014 which saw attendance over 400,000 attendees (EDM.com) and has since become a stable feature of their advertisement platform.

Secondary Behavioral Segmentations

Other behavioral and product preference characteristics of EDM fans which should be noted is that they are first adopters of technology from video games to new streaming services to virtual reality to the newest social media outlets. Since EDM fans are millennials we can easily infer that if millennials gravitate towards experiences rather than physical things so do EDM fans. EDM fans also prefer mobile over desktop when purchasing tickets, researching, and getting online.

Purchasing Behaviors Segmentations

Authors Belch G.E. and Belch M.A. write that consumers, especially millennials, getting information about products or services from personal sources, like their friends, may be the most influential factor in a purchasing decision. This is because the word of mouth information that is conveyed between the two individuals is often perceived as more reliable and trustworthy (Belch and Belch, 2014). It is no wonder that 87% of millennials look to user-generated content as an indicator of products quality and 65% consider it to be more honest and valuable (Foong, 2014).

The name “experience economy” may be a little misleading but describes a shift in consumer preference from materialistic, physical items to experiences. Millennials are driving the experience industry with almost 80% of them stating that they would rather spend money on desirable experiences or events over buying physical products. (“MILLENNIALs Fueling the Experience Economy,” 2015) It is safe to assume that since that the bulk of EDM festival attendees are millennials that they are also drawn to festivals due to it being an experience rather than a physical object. Furthermore, millennials, when compared to other generations, are influenced more by personal states and social based feelings like happiness, love, pleasure, affection, joy, approval, status, and perhaps most important for festivals affiliation/belonging and excitement. In recent years the EDM subculture has gone mainstream but still tries to remain true to its roots of all-inclusiveness. Some call festivals ‘therapy’ while others call it an escape from reality, but the overall message is PLUR, which means “peace, love, unity, respect.” The cultural values and norms of this subculture vary between regions, musical genre preferences, and the very festivals that celebrate it, so it is hard to pin down one personality type or even type of person that is drawn to EDM festivals. In order to be accepted by this subculture as a marketer, an image similar to the one perceived by its followers must be carefully crafted as to not seem like an outsider looking in (Duca, 2014). In a more recent study by Eventbrite UK, some fans find festivals up to 3 times more appealing than your average festival attendees. Driven by any of the above-listed factors, these “super-fans” make up only 28% of festival goers but account for over 50% of annual tickets spend attending four festivals a year and spending £45 more per festival (Chambers, 2016).

Geographic Segmentations

Geographically segmenting this target market, we see that the majority of EDM festivals are located in larger urban centers but having an EDM festival inside a city’s limits does not mean fans won’t show up. EDM festivals like Wakarusa and Electric Forest have proven that if you build it they will come, even if that means attendees must endure travel times of up to four hours from the nearest larger city. Even though Americans travel far and wide, with some festivals successfully appealing to international patrons, the majority of a one-venue festivals attendees are still within the home city or state. It is also easy to draw the conclusion that out of state or even out of city attendees tend upwards in the amount of money spent at the festival and in the city in it.

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Euphoria 2017 | 1st Phase | 7% OFF

Posted by on Nov 20, 2016 in Festivals, News

euphoria festival 2017

Phase 1 of the Euphoria 2017 artist lineup is out, and we couldn’t be more excited! The sixth annual Euphoria Festival welcomes our first chapter of headliners: Alesso, Pretty Lights (Live), and Young Thug. From these three acts, we can expect invigorating Swedish house dance tracks, a full live band performance, and a hype hip-hop party. We are happy to offer a 7% discount on your entire checkout with the promo code “moist” or click here to have it automatically populate!

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Dude Builds a $80K Beer Fort at a Las Vegas NightClub

Posted by on Aug 22, 2014 in News

The fort builders names are Carldeane and TravisWild and by the looks of their IGs they are some crazy ass party animals.

Even Diplo stopped by after his show at XS Nightclub in Las Vegas.

 


 

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