Growing concert market bucks global slowdown
Revenues from live music are set to reach $28.9bn in five years' time, as the "insatiable appetite" for live events holds firm against a wider entertainment biz "plateau"
News By | 9 June 2017
The global market for live music will be worth nearly US$29 billion by 2021, as the concert business defies a plateauing entertainment and media (E&M) ecosystem to deliver another five years of solid growth.
That’s according to consultancy firm PricewaterhouseCoopers (PwC), whose respected annual Global entertainment and media outlook survey reveals live music revenue – from ticket sales and sponsorship – will grow at a compound annual growth rate (CAGR) of 3% through 2021, making up a “little more than 50%” of total music revenue over the period.
That compares to growth of 20.7% for music streaming, which is forecast to be worth $17bn in 2021, amid a collapse in sales of physical music (-11.6%) and digital downloads (-19.2%), reveals the latest edition of the report, Global…
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