Expect live shows and music festivals to capitalize on the rising demand for “synergy” between occasions and types within the dwell live performance business. Here’s the most recent analysis from PwC.
According to a brand new research from Pricewaterhouse Coopers (PwC), the dwell live performance business will expertise vital progress through the subsequent few years.
Breaking down leisure industries within the Global Entertainment and Media Outlook 2018-2022 report, PwC reveals dwell music income will enhance at a compound annual progress price (CAGR) of three.three% heading into 2022. This consists of ticket gross sales and sponsorship.
According to the calculation, the dwell live performance business’s whole income will attain $31 billion in 4 years. Ticket gross sales will make up $24 billion of that whole.
The report touched upon different points of the music business, together with recorded music.
As anticipated, streaming continues to overhaul different music gross sales codecs. PwC estimates streaming music will develop at a CAGR of 18%. However, it received’t match the energy of the dwell live performance business. Streaming music income will develop to barely over $23 billion by 2022.
Of course, the 2 at the moment are fortunately intertwined, with streaming typically propelling crowds in direction of dwell performances.
PwC discovered heritage music acts proceed to generate essentially the most income on the street. U2, Guns N’ Roses, Metallica, Depeche Mode, Paul McCartney, and the Rolling Stones took the six high spots in 2017.