The music industry consists of the companies and individuals that make money by creating and selling music. Among the many individuals and organizations that operate within the industry are: the musicians who compose and perform the music; the companies and professionals who create and sell recorded music (e.g., music publishers, producers, recording studios, engineers, record labels, retail and online music stores, performance rights organizations); those that present live music performances (booking agents, promoters,music venues, road crew); professionals who assist musicians with their music careers (talent managers, artists and repertoire managers,business managers, entertainment lawyers); those who broadcast music (satellite, internet and broadcast radio); journalists; educators;musical instrument manufacturers; as well as many others.
The current music industry emerged around the middle of the 20th century, when records had supplanted sheet music as the largest player in the music business: in the commercial world, people began referring to "the recording industry" as a loose synonym for "the music industry". In the modern era, a majority of the music market is controlled by three major corporate labels: the French-ownedUniversal Music Group, the Japanese-owned Sony Music Entertainment, and the US-owned Warner Music Group. Labels outside of these three major labels are referred to as independent label. The largest portion of the live music market is controlled by Live Nation, the largest promoter and music venue owner. Live Nation is a former subsidiary of iHeartMedia Inc, which is the largest owner of radio stations in the United States. Creative Artists Agency is a large talent management and booking company.
The music industry has been undergoing drastic changes since the advent of widespread digital distribution of music. A conspicuous indicator of this is total music sales: since 2000, sales of recorded music have dropped off substantially while live music has increased in importance. The largest music retailer in the world is now digital: Apple Inc.'s iTunes Store. The two largest companies in the industry are Universal Music Group (recording) and Sony/ATV Music Publishing (publisher). Universal Music Group, Sony BMG, EMI Group (now a part of Universal Music Group (recording) and Sony/ATV Music Publishing (publisher)) and Warner Music Group were collectively known as the "Big Four" majors. Labels outside of the Big Four were referred to as independent labels.
Iastra Broadcasting has just launched a website that offers fans and artists alike a destination to showcase their music, videos, billboards and experiences together in one website that allows you to connect with your favorite artists.
Music Fans from all over the world can join URockMe.TV and find out where and when your favorite bands / artists will be playing, see back-stage photos of all the events and listen to the latest music.
Register as a Music Fan and start receiving invitations to shows, news, watch music videos and live events of all your favorite artists
Register as an Artist to create your billboard, events schedule, upload your latest tracks for millions of people to subscribe to your Band
Register as an Artist to Broadcast Your Shows Globally for millions of people that will subscribe to your Band
Iastra Broadcasting's Global Events provide its sponsorship partners with a unique global platform from which to showcase their business strategies and successes. Bringing together high profile Entertainers, Festivals, Happenings as well as Political & Humanitarian events from around the world, they create a powerful environment to showcase your brand and message.
When people surf the web it is often to find "Entertainment" or Diversions of what to do and where things are happening. Iastra Broadcasting has just the solution to that, Iastra Live Events will cover categories like news, sports, concerts, parties, festivals, reality tv, theater, religious events, political events and rare moments captured only by people such as you that share experiences.
Iastra People will be able to Travel The World Online tuning into these event streams most often for free. The Event Pages will including text, photos, videos and Vine clips as well as comments from people attending in real time.
Live Events are your way to experience the event as it is happening without actually being there.
Companies are being tasked with finding new, creative, and cost appropriate ways to reach their target audiences. At the same time, live music events are quickly becoming one of our favorite pastimes- especially for younger generations with one in five millennials attending a music festival in the past year. The combination has resulted in live music sponsorship becoming a key advertising platform for corporations.
Beer companies are 10x more likely to sponsor music events than the average (with spirits, soft drinks, and food also placing high). Those industries coincide well with the exclusive product placement rights and resulting sales revenue that come with sponsorship. So it’s not surprising that Anheuser-Busch is the most active corporate sponsor immediately followed by Pepsi, Coca-Cola, Heineken, Miller Coors, and Red Bull.
As for the other industries included in the top spenders – banking, electronics, telecom, and automotive – the story tends to be a little different. Companies within these industries are focusing their sponsorship efforts on event activations to engage consumers and drive brand and product awareness. Take a look at Ford’s long-standing Bonnaroo Music Festival sponsorship or Sony Electronic’s strategy focused around consumer engagement and product integration.
The value of event sponsorship has always hinged on the consumer creating an association between the sponsor and the sponsored event. So it was only a matter of time until companies who were not sponsors would try to associate themselves with events sponsored by others.
Ambush marketing made its first big appearance at the 1984 Olympics. And with a greater number of media channels available, it may seem like it’s getting harder to control sponsorship messaging.
Let’s take a look at the recent World Cup. It’s true that brands, like Nike, which had been running football-themed marketing campaigns, despite having no official link, ranked high as sponsors. But at both the beginning and end of the games, Coca-Cola and McDonald’s remained the most recognized World Cup sponsors, especially in the host country.
This research demonstrates the positive impact of a sponsor’s local presence, overall advertising campaigns, and, at times, long-standing history – confirming that sponsors can outperform the rest (especially in localized settings where engagement levels are the highest).
Sponsors need to think about how to leverage the exclusive rights they’re granted to set themselves apart. For example, access to the event venue, the local communities and the physical guests should be used as a launching pad for innovative experiential and digital strategies that engage consumers deeper than any competitor on the other side of the fence.
Bottom line – acquiring a set of rights is only the beginning but it’s a good start.
Digital media is now one of the most important tools marketers can use to share information and engage with target audiences. And its rise has prompted questions about how to effectively integrate social media and other digital technologies into live events.
At times, it feels as though interest in digital media has dampened corporate enthusiasm for increasing sponsorship spending. But instead of viewing digital as the competition, the sponsorship and event marketing industry should highlight their ability to drive relevant and live digital engagement.
The real priority for brands should be engaging consumers in sponsorships by creating branded and measurable live experiences that can be shared with larger online audiences. New digital technologies, like Tagkast, have emerged to help brands integrate social sharing and experiential strategies into their sponsorship programs to drive a stronger ROI.
Learn how Iastra's Global Live Event Broadcasting Platform & Mobile Technology can help you take your corporate event sponsorship to the next level. Contact us today to set up a free consultation with one of our experienced event marketing and sponsorship experts >>
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