SFX partners with MasterCard as exclusive financial services sponsor
SFX Entertainment‘s reign continues to turn heads as a new partnership with an unlikely candidate in MasterCard is in the works. The global, multi-year alliance will deem MasterCard the official financial services sponsor of SFX, in addition to an integrated technology partner to enhance fan experiences at SFX events.
The innovative partnership is the first financial services deal in electronic dance music history, or “EMC” (electronic music culture), as SFX refers to the booming genre. Wheels will begin turning as early as September, with the partnership reaching full bloom on all SFX platforms in 2015.
Robert Sillerman, SFX chairman and CEO, told Billboard that talks with banks and credit card companies began to take place in late 2013, but that MasterCard soon became an ideal candidate due to its affinity for music and similar vision for relevancy and technological advancement.
“When we understood what could make things better for EMC and the fans within this culture, it became pretty obvious to us that a traditional relationship with a financial services company would have been nothing more than an economic land grab,” said Sillerman. “They’re not interested in saying, ‘You must do this,’ we’re at the table together making sure the experience is better for the fans. From a selfish and economic point-of-view, this is not just us grabbing a check. This is us working together, and the potential is huge.”
Though MasterCard has been widely involved in music in the past, such as past partnerships with the Grammys and Justin Timberlake, the company sought to take a larger leap across the pond. To remain pertinent and relatable among a younger audience is one of MasterCard’s number one goals, considering that 25-to-34-year-olds are major targets for the brand. Not only does MasterCard plan to utilize its partnership with SFX to recruit individuals from a younger audience, but also improve consumers’ experience in areas such as ticketing, live events and social connectivity.