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Music festivals offer £100m opportunity

It says the UK’s summer music events make up a “valuable part of the new third space” for drinks companies, with over £100 million spent on alcohol at festivals each year.

It also said that 7.4 million people have visited one of the top UK festivals over the past three years, with 33%, or 15 million, considering a future visit.

And it said consumer spending at festivals is nearing £200 million per year, with each festival-goer spending £32.27 a day on alcohol, more than the £23.71 they spend on food.

“People attend relatively few festivals each year and so when they go they are looking to enjoy themselves, regardless of cost,” said Jonny Jones, CGA’s director of client services.

“They are also a particularly experimental audience, with 51% having tried new drinks when they attend festivals and 37% saying they are very likely to purchase those new drinks in shops or normal pubs and bars afterwards.”

CGA also said festival-goers should be a “key target audience” for drinks companies because a typical attendee has a higher than average annual income, spends a higher than average amount on eating and drinking, and is more likely than the average consumer to go out drinking on a weekly basis.

“A penchant for quality in both drink and the way drinks are served sees 65% of festival-goers surveyed likely to upgrade their drink purchases to more premium products, although many attendees say the provision of food and drink at festivals could be improved,” added Jones.

“Failure to take advantage of festivals by not understanding consumer demand in the third space setting could lead drinks suppliers to miss out on key opportunities for growth. The quality of the experience and ambience offered to festival-goers provides the perfect environment for suppliers to grow advocacy and improve equity in their brands.”

• CGA
• alcohol
• Festivals
• Music Festivals