Drake founded the record label October's Very Own (OVO) in 2006, taking the label's name and owl logo from the fact that he becomes active at night like an owl. Owls symbolize wisdom, implying Drake's music has deeper meaning. OVO Fest is an annual concert in Toronto hosted by Drake since 2010, held on the civic holiday weekend and featuring special music guests. The purposes of OVO Fest include attracting a wide range of entrepreneurs and creators, as young people are essential to the business models of companies like OVO and RBC that sponsor the festival. Promoting OVO Fest through social media is effective due to the targeted age group's regular social media use.