With a sold out Reading, and a not quite sold out V Fest just passed, it is interesting to ponder just released research which reveals each nine extra social media messages add one extra ticket sale for a festival.
It’s no surprise that gig related Twitter, Tumblr, Facebook, and blogging activity etc. link to ticket sales but the number of messages per ticket sale is interesting. The research also showed different acts and events get different response rates.
The analysis was carried out on behalf of a global music promoter, with ticket sales and social media activity analysed and compared for a mainstream UK rock festival, a UK tour of a top female pop artist who appeals to women aged 18-24, and a 1970s rock band who’s fans are predominantly male and aged 30s-50s. Apologies for being coy but the artists’ names aren’t being revealed by the research company, but the festival is at the louder and hairier end of the spectrum – a notch or two up from Reading.
For the festival, social media activity spiked for each wave of artist announcements, and a clear relationship was seen between this and ticket sales. For those comfortable with statistics, the correlation between social media activity and ticket sales was 53%, only a small way short of the 61% correlation between a visit to the ticket sales website, and an actual ticket sale. And when you plot social media messages against ticket sales (I won’t get into the statistical techniques and jargon) you can draw a straight line which helps predict ticket sales based on the number of social messages
So to be accurate – nine extra social media messages predicted an extra ticket sale for this particular festival. It would be nice to have more detail about the research beyond the presentation published on Pulsar’s website
(http://www.pulsarplatform.com/blog/2016/snapchart-how-social-media-activity-drives-concert-ticket-sales/), the social media research company which did the data diving, but still it is interesting.
Pulsar found the relationship was strongest for the rock festival, with the social shout outs for the female artist predicting 49% of sales, and just 22% for the aging rockers – so a different marketing strategy needed there. And though Pulsar are just making the case study public, the research was carried out 2013/2014, and so improved and more recent analysis is out there somewhere in the private domain.