In a new Forbes interview, MAC Presents President and Founder Marcie Allen discussed helping set up Foo Fighters’ partnership with Capital One, and how corporate sponsorships like that could become a $10 billion industry.
“I’ve had the pleasure of working with them since 2008 and so this year working on the Capital One partnership for their tour as well as for Cal Jam, the festival they curated, has been so rewarding. At the end of the day, as an entrepreneur and a business owner you want to work with people that you enjoy doing business with and are appreciative because not everything goes according to plan when you’re working on a brand partnership.
There are always bumps in the road so you have to have people that are going to get it, willing to be responsible and that was something I found when we did the ’50 And Counting’ tour with the Rolling Stones in 2013. I got excited about this article because whenever anybody says they’re very interested in brand partnerships, I think that my world could become, in the next five years, a $10 billion industry.”
She also said, “When I started the company in 2004, according to IEG Sponsorship Report, music sponsorships were a $550 million business. This year, 2018, they’ll be over $1.5 billion. Besides streaming there is not anything in the music industry that has tripled in value in less than 15 years.”