Music Sponsorship at a Turning Point
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Sponsorship has become an established tool within the marketing mix of many companies. A sponsorship can provide significant benefits for companies and brands, e. g. by increasing awareness and generating image transfers and thereby activating (potential) customers and multipliers. In Germany, a large number of companies have experiences as a sponsor and dedicate a substantial share of their communication budget to sponsorships ¿ often primarily in the sports market. However, recent developments like numerous doping scandals caused a shift of public interest in favour of other areas, e. g. cu...
Sponsorship has become an established tool within the marketing mix of many companies. A sponsorship can provide significant benefits for companies and brands, e. g. by increasing awareness and generating image transfers and thereby activating (potential) customers and multipliers. In Germany, a large number of companies have experiences as a sponsor and dedicate a substantial share of their communication budget to sponsorships ¿ often primarily in the sports market. However, recent developments like numerous doping scandals caused a shift of public interest in favour of other areas, e. g. culture. And since the latter market continuously gains relevance and is being covered by media, it has become more attractive for sponsors, too. Within the cultural area, music plays a central role in western cultures and has the potential to grow even further. Due to fast spreading new technologies like the Internet and the overall digitalisation, music has become accessible practically everywhere and for everyone. At the same time, the structure of the music industry, the roles of market participants as well as existing business models are subject to drastic changes. In conjunction with the increasing variety of potential music sponsoring measures, the present development provides new chances and risks for sponsors. This work examines how companies can take advantage of the latest developments within the music industry regarding sponsorship. Thereto the markets of music and sponsorship are analysed and relevant opportunities and threats for (potential) sponsors on the music market are derived. Based on the findings, strategic advice is given for companies considering sponsoring activities in the ¿music industry 2.0¿.
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