It was another blockbuster year for the live music industry. After PvNew Intelligence Platform first issued this “Peak Performance” report in October 2023 that chronicled the concert boom, we have now updated a slew of pages with fresh year-end data to give a more complete sense of what amassive opportunity the past 12 months have been for both the artists and the companies producing these experiences.
The pent-up demand has created a big opening 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, PvNew 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, and we present those findings in our new report, “Peak Performance.”
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 formusic 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, Canthe concert business maintain its strength and momentum in the years to come?
Also in this report…
- Understanding what motivates audiences to attend concerts and music festivals
- Consumer attitudes toward ticket prices, resale platforms, various purchase methods
- Live music event discovery checklist, including breakdown of social media preferences
- Pre-pandemic versus post-pandemic behaviors and attitudes about taking in live music
- Genre popularity at concerts/fests across demos: pop, rock, hip-hop, R&B, country, metal
- Exploration of “music tourism” phenomenon, including travel habits and economic impact
- Music festivals: ticket spending patterns, audience preferences and industry outlook
- Live music venues: Top audience wants and barriers to entry
- How interest in concerts stacks up to other live events
- Audience loyalty patterns: frequency and repeat attendance for same performers, tours
- Gender differences in concert and festival attendance
- The years ahead: Gauging consumer intent beyond 2023 in demand for live music
