Millennials- the young and full-of-promise group of people who seem to have taken over the world. Millennials make up a larger percentage of festival-goers, and they are spending more than previous generations. From the current workforce to the consumer markets, millennials are everywhere. In fact, as per the New York Post, they are to constitute about half of America's workforce by 2020. And with an annual purchasing command of $1.3 trillion, it is natural that millennials are the key to the success of scaling up a festival event.
By definition, a millennial is someone born between the years 1980 and 1996. In reality, they are more about a particular mindset than age. They strive towards living a life filled with passion, experiences, and memories. Fulfillment of their dreams is more important than having material possessions. And this very different ideology is what makes millennials so unique.
One of such major areas where millennials have a lot of influence is in the case of various festivals. Thus to scale up your events, you must understand what millennials want and how catering to them can be beneficial to you.
Planning a festival? Check out - The Complete Festival Planning Check List
What Opportunities Do Millennials Represent
Research by PWC estimates that by 2022, the live music industry will be worth more than $30 billion, and millennials will have a major hand in that. This shows the massive opportunities that millennials present for the festival industry.
One thing about this newer generation of people is that they prefer spending their money on experiences. This inclination, coupled with the FOMO (Fear Of Missing Out) that is part of their social media-savvy lives, prompts millennials to spend on things like concerts, sporting events, and other performance gigs.
According to an Eventbrite study, around 82% of millennials have spent money on such experiences in the past year in America. This number alone is enough to give you a glimpse as to how this can be the perfect time and era for your festival events to scale up. The only thing is that you have to be in in-tune with what your millennial audience wants from you.
What Millennials Want from a Festival
If you think that millennials attend music festivals only to be spectators, then you couldn't be more wrong. To successfully engage millennials in your festival events, you need to understand their psyches. The following are some of the things that a millennial looks to gain from attending any kind of festival.
- A chance to participate- Since they value experiences so much, it is no wonder that millennials want to be part of the show instead of being an onlooker.
- Forming social connections- In this era of virtual living, creating connections outside the world of social media sites is important. Festivals are the perfect place to find like-minded individuals to connect with.
- Family inclusive programs- Don't forget that a chunk of millennials are parents, and they prefer events where there is something for the whole family to do. So, plan your festivals, keeping the adults and kids in mind, and you will have created a coveted experience.
- Good Food - Millenials are foodies, and that means in order to stay competitive, a few simple food vendors won't be enough to keep the crowd happy. A tasty variety of food options that include vegan and gluten-free options will have millennial cheering.
- Local Beverages- Gone are the days of national breweries and liquor brands. Millennials seek out local craft beer, ciders, spirits, and including them in your festival will draw the right crowds in.
- Variety- With their experience-oriented lifestyle, it is normal for millennials to seek variety. Be creative with the venue, the itinerary, and even the time of the festival for the best results.
As you look at scale up your festival make sure to read- 7 Safety and Security Considerations While Scaling Up Your Festival
For your festival to scale up and be successful, it is crucial that you successfully engage your millennial audience. And for that, you will have to understand them and offer the kind of innovative experience that they want.
As you begin to a strategist about scaling your festival, build a good business case will be essential to success.