CGA research moves into festival industry

Industry
03/08/2017 - 09:09
Data and research group, CGA, is expanding its operations into the festival market with the acquisitions of Festival insights, Festival 250 and the UK Festival Awards.

The out-of-home food and drink market consultants say the move reflects the changing dynamics of the out-of-home market, consumer tastes and growing importance of live events, street food and pop-ups.

CGA chief executive officer, Phil Tate, said: “The acquisition underlines CGA's commitment to ensuring we keep track of this and other market developments. It is the first stage in our strategy to provide a full read of this new and dynamic ‘third space’.“

Festival Insights is an online B2B festival analysis publication based on the opinions, experiences and profiles of over 100,000 festival goers while Festival 250 is a global report that ranks the top 250 festivals across the world.

The UK Festival Awards are the sector’s ‘showcase’ awards which this year will be held on 30 November at The Printworks in London.

Tate added: “Consumer analysis shows us that the millennial consumer is an experience junkie and thirsting for something different all the time.

“We can see from analysing where they go that increasingly they are seeking out the ‘third space’, where festivals play a major part, to provide that thrill of finding something new.

“We equally know from business leaders in the drinks market that they are on top of this trend and are planning to spend significantly in this space for sponsorship and activations.”

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