Live Music Exchange Resources

Music Concerts and Festivals – UK – Mintel (2008)


Author(s): Mintel
Organisation/Affiliation: Mintel
Date: 01/08/2008

How will new technology and platforms create new opportunities for Music Concerts and Festivals? The past few years have seen a marked shift in the status of recorded music and live performance. The traditional relationship was one in which the record/LP/CD was the focus, with concerts and appearances primarily there to sell more records. But in today’s downloadable world, where the price of music has tumbled, and is even in some cases given away free, or at a price determined by the buyer, records, CDs and downloads have been demoted to the status of promotional tools for selling tickets and merchandise. The reality today is that there is not much money to be made in recorded music. Album sales are in meltdown. Much of the action is moving to the live arena. Live music has become a key route to profitability. And it’s not just in the world of rock and pop. In classical music, too, many recordings are also essentially for promotion and publicity. Few labels can make money without delving into producing crossover styles, where the classical repertoire and its musicians fuse with popular, more commercial genres. And amidst these changes to the status of live music, new approaches are being brought to the ownership and distribution of music. The voracious Live Nation has developed a vertically integrated approach that handles all the needs of artists including touring, ticketing, album production, merchandise, website and video. It plans to become a single source for all the needs of music fans. It is, by its own estimation “the future of the music business”. In the UK, the live music scene has been growing its audience numbers, driven primarily by wider availability of live events through an ever-broadening array of venues, and supported by a strong consumer economy. Main issues: What are the factors driving the growth in audiences? What are the opportunities for driving further revenues through the live medium? What economic and demographic factors must the industry contend with? Who are the audiences for concerts? What are their attitudes towards live events? How is the supply and organisation behind live music changing? What’s innovative in the sector?

Click here to go to the report (walled)

Comments are closed.