Author: Annette Malave, SVP/Insights, RAB
Of all generations, millennials have had the greatest influence on the advertising and marketing world. Their views and opinions and how they communicate amongst each other shifted how advertiser brands engage with them. According to an early study conducted by Harris and Eventbrite, millennials would choose to spend money on experiences versus things and the greater majority had participated in live events in the past year – like concerts, festivals, themed sports, etc.
While millennials, as a target audience, may have been a catalyst to the growth of event/experiential, it is now an important component of many brands’ marketing campaigns – regardless of age groups. Marketers will spend nearly 21% of their overall budgets on event/experiential in 2018 compared to 19% in 2017, according to a 2018 report by Event Marketer.