North American-based companies will spend $1.08 billion to sponsor music venues, festivals and tours in ’09, a 3.8 percent increase from the $1.04 billion spent in ’08, according to IEG Sponsorship Report, the world’s leading authority on sponsorship.
Most of that growth is driven by new and incremental spending on big-ticket national music festivals and tours, most of which have maintained sponsorship momentum in spite of the economy. You can read the full release here. more
We hear American Honda will announce new sponsorships tomorrow morning.
Specifically, Honda will be replacing its long-running Civic Tour, in which it backed a summer concert tour of a notable band, with ties to the Lollapalooza and Austin City Limits festivals scheduled for August and October, respectively. Honda’s “eco-partner status” will include integrated green activities, hybrid vehicle displays and the giveaway of a 2010 Insight at each event.
Talk about breathing some new life into a struggling brand.
Looking to rejuvenate Tag body spray, P&G teamed up with Island Def Jam Music Group to create Tag Records. more