As we rapidly approach the end of the decade, there’s a lot of retrospective-ing going on. In the case of the music industry, the last couple of decades have been one of disruption, destruction, innovation and reinvention.
TickX, a British company, decided to examine how much the music industry has changed in the last twenty years. Although the study focused on the UK, the lessons learned are no doubt applicable elsewhere in the world, including Canada.
- Average concert ticket price in 1999: £22.58 (CAD$38.50)
- Average concert ticket price in 2019: £56.84 (CAD$97.12)
- Price of a ticket to Glastonbury in 1999: £83 (CAD$141)
- Price of a ticket to Glastonbury today: £248 (CAD$423.75)
Compare these festival posters, too.
And there’s more:
- Streaming now makes up 80% of the music industry’s revenue while only 9% comes from the physical sales of CDs and vinyl.
- Listening to music is mostly done via phones.
Read more here.