Why a Trade Group Is Sponsoring the Rolling Stones’ Latest Tour
The Alliance for Lifetime Income is the exclusive sponsor for the band’s latest tour, in part because the band’s aging fan base perfectly matched the annuity trade group’s key demographics.
If you can afford a ticket to a Rolling Stones concert in 2019, odds are you’re a person who might have a nest egg to protect.
Hence the thinking that led a trade group to exclusively sponsor the band’s latest tour.
The Alliance for Lifetime Income, a financial services group for annuities, is making a case to concert attendees that you can’t always get what you want … without an annuity.
According to CNBC, the alliance is traveling to the different events in a branded tour bus and will promote the group’s Retirement Income Security Evaluation score—effectively a credit score for retirement income—to concertgoers.
“Picking up where a regular paycheck leaves off, an annuity can give you income that’s protected and that you can count on to last the rest of your life,” the organization says on its Retire Your Risk website.
While the tour was rescheduled, it’s possible that the message might actually ring more relevant now than it did on the original dates—because the reason for the delay was that Mick Jagger needed heart surgery.
In comments to The New York Times, Executive Director Jean Statler noted that the band’s demographic draws “middle class” fans who have nest eggs, but not massive ones—generally between $75,000 and $2 million in investable assets.
“They are people who have worked hard and accumulated some savings and may have the benefit of living longer than they had ever planned, and realize they may not have enough savings to last that life span,” she explained.
If it sounds like an unusual combination, it might be because rock music has traditionally found advertisers in other markets. In a prior decade, the Stones might have gotten sponsorship from a major beer company, for example. But the Stones have fans who have been around for 50 years or longer, and those fans have different needs in the market.
“When you look at the demographics of people who follow the Stones—it was a way to get 100 percent coverage of our target audience of 45-to–75-year-old people with some investable assets, ready for their post-career living,” Statler told Rolling Stone last month.
(via Retire Your Risk)