Financial Times Future of Marketing – Millennials, Music, and Data

Russell Wallach, President of Media and Sponsorship at Live Nation, spoke on how the world’s largest live-entertainment company uses data to reach consumers at the second annual Financial Times Future of Marketing Conference on Sept. 17, which brought together executives across a variety of industries.

“The journey of the fan experience, from ticket purchase to the end of the show months later, can be improved by data, and fans welcome anything they can to enhance those moments,” said Wallach.

And what is the future of marketing? The answer is Millennials, known as the most “social” generation ever because of their global, digital connectedness. Many agreed that music is at the intersection of marketing to this group.

“We have first party data from our over 200million-plus user database,” said Wallach. “So that presents a great opportunity for our brand and agency partners to develop unique properties.”

Wallach listed examples that included a recent investment in electronic dance music (EDM) by 7Up to target millennials and Hispanics and working with Kellogg’s to create a summer concert series targeted towards tweens.

To close out the day, Bruce Flohr, co-founder of GreenLight Media & Marketing, sat down with Marc Roberge, lead singer of O.A.R. to talk about how they market themselves to brands. “Music is worthless, yet everyone loves music,” said Flohr. “Everyone walks around with earbuds on, you can’t escape it, but the music has no tangible value.”

“The U2 deal with Apple really put the nail in the coffin for selling albums and completely devalues music,” said Roberge. “We now look for brands who want to partner with us. We want to understand why a brand chose us, and make sure it fits for everyone involved.”

Everyone agreed that the future for marketing is bright but cluttered as brands try to navigate every channel to reach their audience.

Posted on September 19, 2014, in Advertising, Conferences, Events, Millennials, Speaking, The Hit Board and tagged , , , , , , , , . Bookmark the permalink. Leave a comment.

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