SFX Creates Team to Offer Marketers Consumer Insights into Electronic Music Audience
SFX Entertainment (NASDAQ:SFXE) announced today the creation of its new Audience Insights Group, to study electronic dance music (EDM) fans and understand their interests, attitudes and behavior, while providing marketers with ideas about how to connect with this audience.
With that, the Audience Insights Group today released its first report, The Electronic Music, Technology and Youth Culture Study, which found that millennials don’t see electronic dance music (EDM) simply as a music genre. To them, it’s bigger than the music – it’s a culture and a way of life.
The study is the first of many SFX primary research initiatives that will look to better understand electronic music culture (EMC) and millennials’ relationship with it. The survey asked Beatport users to share their thoughts and feelings about EDM, technology, festivals and brands.
SFX Entertainment, Inc. is the largest global producer of live events and digital entertainment content focused exclusively on EMC. Beatport, an SFX company, has been the trusted home of the global dance music community for a decade and recently launched a free streaming music service at Beatport.com.
“The SFX Audience Insights Group’s work has provided SFX with a wealth of new insights into what makes EDM the music of the millennial generation. The creation of this group is a strategic tool that will help our brand partners reach our audience,” said Greg Consiglio, President and COO of SFX Entertainment.
“The insights lead, we believe, to some provocative questions that marketers might want to consider as they strategize about how to connect with this elusive audience,” said Whitney Miller, Ph.D., Director of Consumer Insights for SFX. “What we found was that EDM represents youth ideals of connection to others, the use of innovation and overall emotion.”
Key findings of the survey include:
- When Beatport users were asked how they felt about EDM, nearly 50% said “it’s a way of life!” and 95% agreed that “it has created a culture that’s bigger than music itself.” Similarly, 93% agreed that “it’s a defining aspect of my generation.”
- EMC also thrives on connectivity. Those surveyed enhanced their experiences with their smartphones and social media, as 79% said they took photos or videos at events. Another 51% said they sought information about artists or songs on their smartphones while at events, and 50% said they use social media to post about festivals while they are there, with Facebook and Instagram being the most popular.
- Speaking about the music, 66% said they listened mostly to House, with 55% listening to Deep House and 53% listening to Electro. They were the most popular of the 19 subgenres mentioned in the survey.
- Brands stand to gain affinity by aligning with EMC, according to the survey, with 93% of Beatport users saying they “appreciate when brands help bring them great events,” and 87% saying they have a “more positive perception of a brand knowing that it’s associated with electronic music.”
“What this means is that brands need to understand this audience, not try to control it,” said Matt Britton, founder and CEO of MRY and author of YouthNation: Building Remarkable Brands in a Youth-Driven Culture. “The SFX Audience Insights Group is well positioned to help brands and agencies alike navigate this largely misunderstood and explosive culture, so they can enhance the fan experience with their participation, rather than distract from it.”
“Our partnership with SFX adds value in several ways,” said Michael Robichaud, Group Head, Global Sponsorships, at MasterCard. “Having meaningful insights into this audience will allow us to design product solutions and Priceless marketing programs that will bring EDM fans even closer to their music passion.”
SFX partnered with Latitude, a custom market research consultancy to conduct the survey. A total of 437 Beatport users, ages 18 to 34, were surveyed survey from March 4 to March 9. The report can be viewed at: http://sfxii.com/wp-content/uploads/2015/04/Electronic-Music-Technology-and-Youth-Culture.pdf
About SFX Entertainment
SFX Entertainment, Inc. is the largest global producer of live events and digital entertainment content focused exclusively on electronic music culture (EMC) and other world-class festivals. SFX’s mission is to provide electronic music fans with the best possible live experiences, music discovery, media and digital connectivity. SFX was borne out of the technology revolution and produces and promotes a growing portfolio of live events that includes leading brands such as Tomorrowland, TomorrowWorld, Mysteryland, Sensation, Stereosonic, Electric Zoo, Disco Donnie Presents, Life in Color, Rock in Rio, Nature One, Mayday, Decibel, Q-Dance, Awakenings, and React Presents, as well as the innovative ticketing services Flavorus and Paylogic.
SFX operates Beatport, the principal online resource for EMC DJs and a trusted destination for the growing EMC community to discover and stream music, follow DJs and keep abreast of news, information and events, in addition to offering year-round entertainment to EMC fans around the globe through other digital assets.
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