Sponsorship tracker IEG and ESP Properties, part of WPP, are forecasting slower growth in the music sponsorship arena this year.
The good news is there’s still growth — and it’s not bad, either. IEG and ESP Properties project sponsorship spending on music tours, festivals and venues will rise a respectable 4.8% to $1.54 billion this year, crossing the $1.5 billion mark for the first time.
As you would expect, given that such events are basically big parties with great music, a beer company is the king of sponsorships in the sector—Anheuser-Busch InBev. Some 51% of music festivals with a sponsor in the beer category report a partnership with an A-B brand, up from 28% in 2016.
And here’s a bit of a surprise, although I guess it shouldn’t be with all that imbibing: Uber is projected to be the second-most-active sponsor of music, replacing Pepsi.
Rounding out the top five on the most-active list? Yep, more booze with Brown Forman (Jack Daniels), Fifth Generation (Tito’s Handmade Vodka) and MillerCoors taking the 3rd, 4th and 5th places, respectively.
Good thing Uber showed up!
IEG/ESP also projects that growth in music sponsorships in the North America region will be 4.1% this year, a bit off the global pace.