How is the live music industry doing? Well…
Once the pandemic ended, everyone went on tour and we all bought tickets. But now there are too many acts on tour, tickets cost too much, and we’ve run out of money. So where does that leave the live music industry now?
Hits Daily Double did a little asking around and this is what they found out:
- Over the last six months, concert box office grosses exceeded US$3 billion for the first time ever. But…
- …a lot of that is because ticket prices are higher than ever.
- The pace of sellouts has slow. It takes longer and longer to sell out a show–if it sells out at all.
- Average attendance at concerts has dropped 15%.
- Average grosses have dropped by 7%. Exceptions have been Taylor Swift, Beyonce, The Foo Fighters, Noah Kahan, and a few others.
- Attendance at country shows and festivals remains strong.
- Niche events, just as the classic alternative Cruel World festival, are generally doing well.
General conclusions? Live music is still doing well but things have cooled considerable since the post-pandemic rush.
