This year is gearing up to be another blockbuster year for the live music industry. With the pandemic in the rearview mirror, people are opting for communal experiences outside their homes more than ever before. The pent-up demand has created a massive opportunity for both the artists and the companies producing these experiences such as Live Nation.
Even as the world’s economies grapple with geopolitical turmoil and suppressed economic growth, music fans continue to fill up the world’s largest stadiums and arenas, driving up record revenue for the live music business.
To dig deeper to understand just what and who is driving this surge in live music consumption, Variety Intelligence Platform partnered with UTA IQ to conduct an online survey of over 4,000 U.S. consumers and 1,500 live musicgoers ages 15 to 69 to get a better sense of current and future demand for the concert business.
When thinking about the year in live music, the headlines have all highlighted the stunning summer of Beyoncé and Taylor Swift. While the two female superstars did in fact drive a sizable portion of the business this year, our survey found that they were just part of a much larger and complex story.
From understanding the audience, making sense of soaring ticket prices, assessing the growing appetite for music tourism and venue preferences of consumers, our report will take you through every facet of the live entertainment industry.
As ticket prices ratchet higher and economic conditions put pressure on discretionary spending, the main question is, Can the concert business maintain its strength and momentum in the years to come?
