Decoding Millennial Concertgoers

Today’s post comes from Ypulse’s Research Intern Phil Savarese.

Decoding Millennial Concertgoers

In today’s smartphone-obsessed society, it’s rare that you’ll go to a concert where people aren’t snapping pictures, recording videos, or updating their status during the show. Millennials are extremely interested in seeing artists live and partaking in epic experiences; according to Ypulse research among 339 13-34 year olds, four of five Millennials have been to a concert before. However, the “in the moment” experience of a concert has collided with the timelessness of the digital age. As an avid concertgoer, I‘ve found that smartphone and tablet use during shows has created four types of fans:

“I’ll never get a chance to see this again!” – The Capturer

These are the people that shed some light on the “sea of hands” at concerts, literally. They hold their phone or tablet as high above the crowd as possible to capture the concert forever. Fully, 67% of Millennial concertgoers said that they have taken a picture of a performer with their smartphone. These capturers want to permanently document the concert for future reference. Additionally, 47% said they have filmed parts of the concert. Sometimes this involves distracting oneself from the show or viewing it through a screen, but they sacrifice fully enjoying moments live so that they can enjoy it over and over again.

“Guess where I am?!” – The Bragger

Braggers are the ones who take their attention completely off of the show for a moment to tell their network of friends where they are and what they’re doing. Half of the Millennials surveyed (51%) said they’ve updated a Facebook status during a show, while a quarter (24%) said they’ve Instagramed the performer. They want their friends to know where they are and how much fun it is…

 
 

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Millennial News Feed

Quote of the Day: “I consider luxury items as something that is nice to have, but that I can also live without.”—Female, 23, FL

How has the recession made Millennials reject capitalism? According to a Harvard University survey, 51% of 18-29-year-olds say they do not support capitalism, but it may be that young voters are essentially frustrated by the “flaws of free markets.” When asked about socialism, only 33% said they were in support of the alternative system, making the analysis of the data complex. It is also unclear how the Millennials surveyed define capitalism, since the meaning has shifted throughout the years. According to one pollster, the term once meant freedom from totalitarian regimes, but is now blamed for the financial crisis. (Washington Post

Financial technology startups are narrowing their focus to keep Silicon Valley interested. It is no longer enough for a young company to disrupt the financial industry, they need to think niche to stand out from the competition. Financial start-up Pave targets consumers with a lack of credit history, like college students. Promise Financial provides loans specifically for weddings (which 74% of 18-33-year-olds say have become too expensive), and has partnered with over 100 wedding venues and vendors to offer loans when major purchases are being made. (Wall Street Journal

Luxury brands are looking towards the future by focusing in on Millennials. The generation has the potential to be the largest spending group in history, and by 2020 the oldest Millennials will be entering their peak earning years. To prepare, luxury brands are shifting to cater to the generation who values “über-luxe” travel over costly jewelry, shoes, and bags. Brands are turning to new influencers—from the Instagram-famous to video game characters— to form relationships with Millennials before they become the core luxury demographic. (WWD

GE has created an unexpected product to attract Millennial engineers: hot sauce. In partnership with thrillist and High River Sauces, the company has introduced the limited edition 10^32 Kelvin—named after the temperature that “scientists believe all matter ceases to exist.” The sauce combines the two hottest peppers in the world, and is made to get the attention of young applicants who may be more inclined to work for a “trendier” company. There is no doubt that hot sauce is a major trend: one market research firm predicts that by 2020 popular sauces will earn $632 million in new sales. (Fox News

An exclusive club called Magnises is “targeting Millennials and brands, wallets and insecurities.” We first told you about Magnises as a start-up targeting high earning Millennials, and since then it has branched out as a community-focused platform joining the ranks of WeLive and Soho House. Playing off Millennials’ struggle to form connections, the company wants to bring “the benefits of an online social network immediacy, convenience, interactivity—into the real world,” through member-only and sponsored events. They are expecting $5 million in revenue this year, with the  majority coming from brands. (Racked

Quote of the Day: “When shopping for a home, my must-have is an in-law suite.”—Male, 23, DE

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