The Shining Star Among Millennials
In 2006 the Festival was considered a niche brand at a high level among the General Population. It is still considered to be a niche brand today, but has lost Brand Strength, which is an indicator of brand momentum and future potential. Since 2006, Sundance has successfully maintained a high level of Differentiation, a brands point of uniqueness, because the General Population has a more in-depth understanding of Sundance Film Festival and what it entails. Although the brand achieved high differentiation, it lost some Relevance among this audience sector.
Among millennials, however, Sundance is a shining star. The brand is considered a Leadership brand and has improved on all equity metrics among this audience over the past 10 years. Sundance maintained and even increased its strong Differentiation, while building Relevance, Esteem and Knowledge along the way - following the trajectory of a successful life cycle of a typical brand.
On a perceptual level, the festival is now seen as more Authentic, Daring, Popular and Approachable, while less Flashy (Trendy, Stylish and Upper Class).
Today, among millennials, the entertainment event category which includes notable events like Cannes Film Festival, Cirque du Soleil, and Academy Awards etc., at a high level is considered to be in Leadership, but there is still room to grow and establish itself as a whole– indicating that the brighter days of the overall Entertainment Events category are ahead of itself. Sundance Film Festival, outperforms its category by having even greater momentum and future promise through a higher level of Differentiation.
When compared to the entertainment events category, Millennials associate Sundance more closely with Independence, Intelligence, Energy, as well as with forward looking attributes like Progressive and Visionary. While the category overall considered to be more Traditional and Flashy (Stylish, Glamorous, Upper Class, Charming).
Perhaps the focus of the Festival vary from New Frontier Story Lab. An event where trans-media storytelling and multi-media installations, to VR experiences, to panel discussions has attracted the attention of Millennials. Or it could be the successful partnerships of Sundance with Millennial driven brands like Airbnb. With a trajectory like this if Sundance continues to hold its uniqueness it has potential to shine even more among Millennials.