By Barry Janoff
June 21, 2016: Film festivals in such places as Sundance, Cannes, Chicago, Los Angeles and Tribeca (NY) are a great place for creative artists, filmgoers, industry bigwigs and consumers to gather, share ideas and generate excitement.
Concurrently, food and wine festivals held in such places as New York, Los Angeles, Austin, Las Vegas and Washington DC have become a Mecca for uncovering soon-to-be hot trends and ingenious food and drink visionaries.
They also have become a focal point for brands and marketers.
Sponsorship spending on film, art, food and wine festivals and related annual events is expected to reach a record $878 million in 2016, a 2.1% increase over and some $18 million more than the $860 million spend in 2015, according to research and consulting firm IEG, Chicago.
The increase has been steadily rising over the past few years.
Sponsorship spend on film, art, and food & wine festivals was $847 million in 2014, $839 million in 2013 and $825 million in 2012, according to IEG's 2016 Film, Art, Food & Wine Festival Sponsorship Report.
The primary reason: "Sponsors’ growing interest in digital inventory, an asset many fairs and festivals have been slow to embrace," per IEG.
However, according to IEG, the increase lags sponsorship spending in sports (5%), entertainment (4.2 %) and every other property segment, as well as the projected 4.5% increase in overall North American sponsorship spending.
The most active sponsor of film and art festivals is Anheuser-Busch InBev. According to IEG, 20% of properties with a sponsor in the malt beverage category report a sponsorship with an Anheuser-Busch brand.
Leading sponsors also included Marriott (11%), Coca-Cola (9%), NBC (9%) and TimeWarner (9%).
The most active category sponsoring film and art festivals was entertainment, with companies in the entertainment category six times more likely to sponsor film and art festivals than the average of all sponsors.
The Top Ten most-active categories sponsoring film and art festivals also includes government (5.1), alcoholic beverages (4.8), TV-cable (4.5), hotels-resorts (3.2), education (2.9), banks (2.5), radio (2.3), associations (2.3) and magazines (2.3).
Anheuser-Busch InBev is also the most active sponsor of food and wine festivals, with 46% of those with a sponsor in the malt beverage category reporting a partnership with the company.
That figure is double the next most active sponsor, PepsiCo (23%), followed by Coca-Cola (19%), Berkshire Hathaway (19%), Starwood Hotels & Resorts (15%) and E&J Gallo (15%).
The most active categories sponsoring food and wine festivals were led by food. Food companies are 8.8 times more likely to sponsor food and wine festivals than the average of all sponsors, per IEG.
The most active categories here also include beer (5.2), wine (3.5), hotels-resorts (2.6) and spirits (2.4).
Top film festivals include: Sundance (January 2017), Cannes (May 2017), Big Apple Film Festival (Nov. 1-5), Beverly Hills Film Festival (April 2017), Boston Film Festival (Sept. 17-21), Chicago International FIlm Festival (Oct. 13-27), New York FIlm Festival (Sept. 25-Oct. 11), Los Angeles Film Festival (June 2017), Telluride (Col.) Film Festival (Sept. 2-5) and the Tribeca (NY) Film Festival.
Top Food & Wine Festivals include: the South Beach (Fla) Wine & Food Festival (February 2017), Austin Food and Wine Festival (April 2017), New Orleans Wine & Food Experience (May 2017), Los Angeles Food & Wine Festival (Aug. 25-28), Maine Lobster Festival (Aug. 3-7), Las Vegas Wine & Food Festival (Sept. 15-18), Taste of DC (Oct. 8-9) and the Food Network NY Food & Wine Festival (Oct. 13-16).
Performing Arts Sponsorship Deals Near $1B
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