Music festivals in the UK have boosted drinks suppliers by £100m
Analysis by CGA found that summer music festivals around the UK are expected to provide a £100m boost to drinks suppliers, as well as offering an opportunity to generate new customers. Festivals have become a valuable new revenue source for drinks companies, with 7.4 million people in the UK attending a popular festival within the last three years. Customers are estimated to spend around £32.27 per day on alcohol and a further £23.71 on food, totaling at just shy of £200m of consumer spending per year! A recent survey showed that 90% of drinks companies have invested in one or more experience/event due to the recent growth. Consumers at festivals are especially important to drinks providers, as new research showed that they earn an above average income, therefore a higher thanaverage spend of eating out and more likely to go drinking on a weekly basis. Festival customers are also more likely to try new things (including new drinks) while in attendence, and 37% going on to repurchase in pubs and shops afterwards.