Demonstrating the power of music as a marketing platform, sponsorship spending in the category continues to soar to new heights.

North American-based companies will spend $1.34 billion to sponsor music venues, festivals and tours in 2014, a 4.4 percent increase from 2013, according to IEG, LLC.

The increase slightly exceeds the projected 4.3 percent increase in overall sponsorship spending but lags the 4.6 percent increase for the entertainment category and 5.4 percent rise in music spending from 2012 to 2013.

One trend: growing corporate interest in electronic dance music. Anheuser-Busch InBev last year inked a multi-million dollar partnership with SFX Entertainment, Motorola partnered with Live Nation EDM festivals, while Heineken aligned with trance DJ Armin van Buuren to support its “Dance More, Drink Slow” campaign.

The Most Active Companies Sponsoring Music (North America)

The Coca-Cola Co. is the most active sponsor of music with 27 percent of properties reporting a partnership with the beverage giant.

The Most Active Categories Sponsoring Music (North America)

Beer companies are 10 times more likely to sponsor music than the average of all sponsors with spirits and banks in close pursuit.

The Most Active Companies Sponsoring Music Festivals (North America)

Anheuser-Busch is by far the most active sponsor of music festivals with 31 percent of properties reporting a partnership with the company.