If you really want to know about someone, look into their fan base. And check out their playlist.
A fan’s affinity for a consumer’s music is a reliable guide to their preferences in other areas of fandom, such as games, movies, television, sports, and fashion. That’s one of the conclusions of a new report released by Vevo, the music video network that is a joint venture between Sony Music and Universal Music Group. ‘Fandom = Cultural Currency’ is part of Vevo’s regular Media Tracker study that assesses how music connects with consumers.
Rob Christensen, Vevo’s executive vice president of global sales, highlighted the survey results and how Vevo positions audience value to top brands in Vevo’s Variety Strictly Business Spotlight interview on October 8 in New York. In an era of fragmentation, the company’s pitch is that understanding consumers’ favorite passions in music is a good indicator of other passions and fandoms.
“The only thing that’s different about fans is that they’re passive,” Christensen says. “There’s no one who really, truly engages with content as much as a true fan. I’m a huge music fan, I’m a huge sports fan, but I find myself falling down rabbit holes all the time. And as a result, from a brand perspective, this is often It’s a great mousetrap for maximizing brand exposure without overexposing yourself. And some of the fandom reports show us that we know that fandom leads to action, which leads to investment, which leads to status. It can impact consumers’ wallets.”
Vevo’s report is based on a survey of 6,100 respondents in the US, UK and Australia, as well as the company’s internal data and analysis. Vevo is ramping up its online distribution efforts through high-speed channels and licenses, signing deals with Samsung, LG, and other connected TV manufacturers. Launched in 2009, the platform currently generates 22 billion views per month and 1.5 billion hours per month.
“Music videos remain a huge driver of pop culture and cultural trends, truly expressing the passion an artist has for their work,” says Christensen. “Most fans will tell you that artists, pop culture, and fandom are a big part of their identity. For us, we think our content set embodies that and extends pop culture trends every day of the year, just on par with sports trends.”
Other data points in the survey include:
Music is a great connector. More than two-thirds (69%) of respondents agreed that music helps them feel connected to the world around them. This compared to 62% for sports, 57% for politics, and 55% for gaming.
Geography is important. Australian consumers are 48% more likely to be fans of K-pop than consumers in other regions, proving Australia’s closeness to East Asia in this study.
The passion of hardcore fans drives pop culture. “More than a third of viewers repeatedly watch content from their favorite artists, and more than a quarter end up purchasing official merchandise from that artist, including everything from vinyl and deluxe CDs to the artist’s makeup and clothing lines,” the report said.
One thing leads to another. Approximately 68% of respondents agreed that music has a strong connection to movies and television, followed by clothing and fashion (51%) and sports (45%).
In this report, we sought to measure the elasticity of demand for superfans and how they are influenced by advertising. Approximately 69% of survey respondents agreed that they are more likely to spend money on brands that surround their favorite fandom/fan community, and 64% agreed that they are more likely to spend money on brands that make them feel connected to musicians and the music industry.
Watch the full conversation above.
