What do Taylor Swift and Canadian banking giant RBC have in common? If you said Swift’s super successful Eras tour, you’d be right on the money. On the Canadian leg of 2023’s remarkable roadshow, RBC has expanded its sponsorship to provide exclusive Eras Tour tickets through its Avion Rewards program. Even institutions that may not be known for youth culture can recognize a global phenomenon when they see one. As USA Today emphatically says: “Let’s be frank. It’s time to call 2023 what it is: the year Taylor Swift took over the world.”
Recognizing how Swift really does make the “whole place shimmer,” RBC’s sponsorship of the Toronto concerts generated unprecedented excitement among the bank’s rewards members. “The groundbreaking tour has been in high demand since kicking off earlier this year,” according to RBC’s Vancouver announcement. “It brings together generations of music fans and breaks sales records around the globe.” In fact, 31 million people registered on Ticketmaster for the Toronto leg of the tour. “This move coincides with Swift’s growing marketing appeal,” reports Insider Intelligence. “A mere association with the star can drive up sales exponentially.”
The expanded RBC program comes amid shifting sponsorship and brand priorities for banks seeking greater appeal to Gen Z. “The banking industry is directing more of its sponsorship dollars to music festivals and concert venues in an effort to attract younger clients with disposable income,” according to American Banker. Over the last two years, bank sponsorships of music festivals jumped by 165%, while bank sponsorships of concert venues increased 94%, according to SponsorUnited. Banks are spotlighting music and concert sponsorships “due to the singular opportunity these platforms offer to craft unique, expansive experiences.”
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