Data and research consultancy for the out-of-home food and drink market CGA is expanding its operations into the festival business with the acquisition of Festival Insights, Festival 250 and the UK Festival Awards.
The move reflects the changing dynamics of the out-of-home market and consumer tastes, and the growing importance of live events, and the likes of street food and pop-ups.
Festival Insights is a knowledge hub of the festival industry, with analysis based on the opinions, experiences and profiles of more than 100,000 festival-goers, and is the foundation for the annual European and UK Festival Market reports. Festival 250 is a global report that ranks the top 250 festivals across the world. The UK Festival Awards are the showcase events for the festival sector.
CGA chief executive Phil Tate said: "The acquisition underlines CGA's commitment to ensuring we keep track of this and other market developments and evolve our core services to continue to provide the most accurate and detailed measurement and analysis of food and drink sales and consumer trends.
"Consumer analysis shows us that the millennial consumer is an experience junkie and thirsting for something different all the time. We can see from analysing where they go that increasingly they are seeking out the ‘third space', where festivals play a major part, to provide that thrill of finding something new."
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