Music festivals as mediators and their influence on consumer awareness

Abstract

Cultural products compete for public awareness in markets with high uncertainty, oversupply and a short product life cycle. Altogether, this means that only a small fraction of all releases generate the necessary consumer awareness to achieve a significant commercial success. This paper aims at identifying the informational function music festivals serve in cultural markets and how it translates into consumer discovery of cultural supply. To do so, we empirically measure informational spillover effects to performers at an established music festival. We hypothesize that this effect stems from the reputation attached to the brand equity of cultural organizations, is asymmetric, as it decreases with the success of the performer such that lesser-known performers profit more than well-known ones. Empirical results are consistent with our hypotheses.

From media events to my events: Chinese mediated festivals in the digital era1

“…Differing from previous views of mediated festivals as an online extension of the real-time festivals, Ternovski and Yasseri (2020) have highlighted how young people’s peer networks promoted online festival events through networked participation. Such participation can also contribute to the symbolic and cultural exchanges of the mediated festivals (Montoro-Pons and Cuadrado-García, 2020). Thus, more than an extension of a real-time festival, mediated festivals are events of intertwined mediation processes.…”

From pirates to subscribers: 20 years of music consumption research

“…Third, gathering targeted information through web scraping from online reviews, blogging sites, or crowdfunding platforms to assess user involvement in value and content creation. Fourth, the use of web or other platform‐specific search indices as metrics of consumers' awareness to identify consumers' search strategies driving supply discovery and/or reducing information‐related costs helping understand the dynamics of taste formation and, hence, consumption (as suggested in Montoro‐Pons & Cuadrado‐García, 2020).…”

Events as an Effective Marketing Communication Tool

“…In such cases, it is usually multi-genre, intended for a larger number of visitors and therefore includes a larger number of target groups. In the field of marketing, the informational function of music festivals cannot be overlooked [12]. Participants of music festivals who experience changes in their selfconstruct related to self-growth and self-development from their participation in a music festival, use music to facilitate self-awareness and social relatedness [13].…”