Chicago, Ill. (PRWEB) July 26, 2013
Sponsorship spending on fairs, festivals and annual events is expected to total $849 million in 2013, up 2.9 percent from 2012, according to IEG, the world’s leading authority on sponsorship.
The increase lags IEG’s projected 5.5 percent increase for the entire sponsorship industry, as well as the year-over-year increase for sports (6 percent), entertainment (5.1 percent), causes (4.8 percent) and other property segments.
“While year-over-year spending trails other sectors, fairs and festivals continue to draw interest from corporate marketers looking to build local presence,” said William Chipps, IEG Sponsorship Report senior editor.
“Fairs and festivals continue to benefit from banks, auto dealerships and other categories looking to strengthen their local positioning,” Chipps said.
Much of the activity in the category is driven by beverage companies. Anheuser-Busch InBev; PepsiCo, Inc.; The Coca-Cola Co.; and MillerCoors are the four most active companies sponsoring fairs, festivals and annual events in terms of number of deals, according to IEG Research.
Three other factors fueling interest in events:
- The opportunity to reach consumers during the summer, a period when many people are difficult to reach through traditional media
- The continued popularity of mobile marketing programs
- A platform to support corporate social responsibility initiatives
About IEG, LLC
IEG leads the way in sponsorship intelligence. With over 30 years providing insights, evaluation, and guidance, our teams bring unparalleled perspective and proven methodology to every challenge.
We partner with top brands and properties to create fresh strategies, evaluate opportunities and maximize results. Our clients rise above competitors, meaningfully engage audiences and achieve lasting impact.
A unit of WPP’s GroupM, IEG is connected to specialty sibling communications companies in media, digital and activation. GroupM is the leading global media investment management operation that also serves as parent company to WPP media agencies including Maxus, MEC, MediaCom, and Mindshare.
For more information about IEG and the sponsorship industry, please visit http://www.sponsorship.com or call 800/834-4850 (outside the U.S. and Canada, 312/944-1727).