At this point Sirius XM is well known to consumers, the music industry, as well as bands. The trick in maintaining that type of awareness is keeping on top of people minds in any way possible. Sometimes a unique opportunity presents itself where a company such as Sirius XM can offer extreme benefits to the client, while at the same time gaining unique content as well as national exposure.
Last year the Hangout Music Festival was launched and this year the festival has announced some major acts that will headline the event. Hangout 2011 starts on May 20th and will run through May 22nd. The Hangout Music Festival will feature Paul Simon, Foo Fighters, Widespread Panic, The Black Keys, My Morning Jacket, Flaming Lips and Cee Lo Green among others.
Because this festival is in it's infancy Sirius XM could have a unique opportunity to not only sponsor such an event, but broadcast the exclusive live content as well. This event will certainly garner local exposure, but Sirius XM has the chance to take such an event to the next level, offering a national platform, and cementing themselves as a participant in the annual event going forward.
Sirius XM is not new to sponsoring and broadcasting music festivals. In 2010 the company was a major participant in the Electric Zoo Festival in New York. The event was a huge success and music fans around the country were treated to the unique programming throughout the festival.
Festivals such as these garner a huge following. The live content from festivals such as this are something that competitors of Sirius XM can not offer. This is appointment radio. Content that Sirius XM subscribers will want to tune into. Sponsoring such a festival, particularly a new one that wants additional exposure, would not be an expensive endeavor, and it is a simple case of mutual benefits for the festival and Sirius XM.
Position - Long Sirius XM Satellite Radio