Live music revenues to top $30bn for first time
The global live music industry will continue to grow steadily over the next four years, with music streaming and esports also booming, according to the latest PwC Outlook
News By | 26 October 2018
The decade-long live music boom is set to continue well into the 2020s, with the value of the international concert business projected to reach US$30 billion for the first time within five years, according to new figures from PricewaterhouseCoopers (PwC).
The latest edition of PwC’s respected annual review of the planet’s entertainment industries, the Global entertainment and media outlook 2018–2022, reveals live music revenues – ticket sales plus sponsorship – will increase at a compound annual growth rate (CAGR) of 3.3% from 2018 to 2022, reaching $30.55bn ($24.36bn of it from ticket sales) in 2022.
In the recorded sector, meanwhile, streaming continues its inexorable march towards dominating consumption, with physical sales and downloads projected to slide by -9.6% and -23%, respectively. Music streaming, by contrast, will grow at a CAGR…
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