In an article carried on CNN.com, Paul Samuels, head of sponsorship at O2 said companies such as his are switching from the more traditional investments in sporting events to music festivals as a more direct route to the youth market.
O2 has invested heavily in sport over recent years C1 most notably as major shirt sponsors of Premier League giants Arsenal.
He said: C,There's more bang for your buck in the music arena. Because there is more opportunity to offer relevant products and services, there is more opportunity to drive revenue.
"There are only a limited number of our customers that are Arsenal fans. Music is definitely key for sponsors as it offers access to a broader spectrum of people - from opera lovers to rock fans. There's more opportunity to differentiate your brand in music. Football sponsorship isn't as fresh anymore."
