In today’s music environment, revenue isn’t going to come from selling pieces of plastic. And unless you’re written a song named “Despacito,” streams aren’t going to pay the bills, either. Touring and playing live is where the important money is made. But you just can’t stand up on a stage and hope that something goes right. This is the era of hard data. The more you know about who’s listening to your music and how, the better off you’ll be.
Nielsen Music Canada is about to release its “Live Music and Brand Reports” which offers up some interesting consumer data for artists, labels, managers, event producers and brands. Here are some of the insights it delivers on the Canadian market.
- What’s the major factor in determining if someone buys a ticket to your show? A full 85% say all depends on the price of the ticket.
- 70% of concert-goers buy their tickets within two weeks of them going on sale
- What’ll entice a person to pay extra for VIP tickets? (1) Special seating; (2) Meet and greets backstage; (3) Drinks and food; (4) Merch
- 60% of the average person’s annual spend on music goes to live music events.
- 70% of people at concert use some kind of social media at the event
- On average, 40% of the people who go to a concert bought the artist’s CD and 29% have streamed their music.
- 20% paid for a download of the artist’s music.
This is just a taste of what the final report will offer. Some of the information will be made available to the public while the rest will have a cost associated. For example, if you’re in the business, you’ll want to know answers to questions like this:
- How event-goers feel about brand sponsorships at events
- How attendees stay engaged with brands after the event is over
- Importance of social media during discovery and planning
- How event-goers hear about new and upcoming events
- Dollars spent on merchandise, food, drink, travel, and accommodations
This should be interesting.