49 percent GenZ more likely to buy brands sponsoring live music: Spotify

49 percent of Gen Zs in India said that a brand sponsoring live music events, concerts or would make them more likely to buy that brand in the future. We also know that concerts are a must-have for Gen Z, but ticket prices are making concerts inaccessible. Brands can add tangible value by hosting or sponsoring live concerts and events for Gen Zs featuring artists and podcast hosts that they love, as per Spotify's sixth annual Culture Next Report.

In a chaotic rush to grab tickets for Coldplay's upcoming concert at Mumbai's DY Patil Stadium on January 18, 19, and 21, social media platforms buzzed with posts from frantic fans trying every possible trick to secure their spots.

In a bid to capture a larger share of India's burgeoning events and ticketing market, Zomato, the country's second-largest player in this space, is setting its sights on dethroning the current leader, BookMyShow.

In a recent interview with Moneycontrol, Zomato's co-founder and CEO, Deepinder Goyal, expressed confidence in the company's trajectory, stating, "We were the number three player in the game earlier. Now, we've become number two. We'll gun to be number one at some point and hope that Swiggy doesn't buy BookMyShow."

While young people live their lives online, concerts and IRL events are essential, as per the report.

74% of Gen Zs have attended a concert/live music show in the last year. Snagging a ticket to Taylor Swift’s Eras Tour in another country has both economic impact and cultural cache, and is ushering in a new paradigm for live music events where fans are willing to cross country lines.

It doesn’t have to be a sold out arena for Zs to come together IRL to connect over their shared passions. Nearly half of Gen Zs have attended an in-person listening party for a new album or song. Fueled by the intimate relationship people have with podcast hosts, we’re seeing live experiences take hold for podcasters too. 37% of Gen Zs have attended a live, show or taping of a podcast and 36% of Gen Zs have attended an in-person watch party for a new episode of a video podcast.

GenZs’ interest in connecting deeper with podcast hosts fueled an increase in video podcasts. In the first five months of 2024, they watched 2.9 billion minutes of video podcasts – a 58% increase compared to last year during the same time period, the report further reveals.

In addition to pop culture podcasts, globally, Religion & Spirituality is one of Gen Z’s fastest-growing categories, increasing +85% YoY.