A recent study by Live Nation, a global leader in live entertainment, has shed light on the power of live music in driving consumer engagement and brand loyalty. The study, focusing on Australia and New Zealand, reveals that these two nations rank among the most engaged consumer groups globally when it comes to brand loyalty programs.

The study highlights live music as the leading 'perk' in providing the most value for consumers. A significant 91% of Australians and New Zealanders are members of a retail loyalty program, followed by 59% in fast food, 57% in clothing apparel, and 55% in travel.

The study also reveals that three in four people are likely to sign up for a new brand loyalty program offering live music perks. Discounted tickets are the most sought-after perk among Gen Z, while 'comfort' VIP experiences are important among the older millennial and Gen X generations.

Over half of all people stated that they would likely switch to a loyalty program that offered live music perks, suggesting that it makes a brand more innovative and relevant to their lifestyle. In fact, 63% intend to spend more money with brands that offer live music perks.

"Live music has the power to generate emotion and consumer passion like nothing else, and there’s an incredible halo effect for brands that include live music perks in their loyalty programs. You never forget the experience of a live music event, and based on survey responses, this includes the brands that help bring these events to life," says Frances Deighton, Strategy Lead at Live Nation Entertainment.

A whopping 77% say that belonging to a loyalty program makes them feel valued by a company, and 94% agree that belonging to a loyalty program makes them feel like they're saving money. Retail ranks highest when it comes to openness, sign-up, and likelihood to switch loyalty programs.

"Maintaining relevance will be key for brands in 2024, and ensuring the right customer needs are consistently met will magnify a brand’s perceived value. Introducing music perks into a loyalty program is a surefire way to boost customer engagement and retention. With so many epic live music experiences coming up in 2024, there’s never been a better time to engage customers with music," says Kristy Rosser, SVP Marketing Solutions and Client Services for Live Nation ANZ.

Live Nation Entertainment is a live entertainment company comprised of global market leaders: Ticketmaster, Live Nation Concerts, and Live Nation Media & Sponsorship. This study underscores the company's commitment to understanding consumer behaviour and leveraging the power of live music to enhance brand loyalty programs.