Global live music ticket sales to top $25bn
Live music will continue its more than decade-long boom through 2023, though a streaming-reinvigorated recorded sector is nipping at its heels, finds PwC's Outlook 2019
News By | 23 September 2019
The value of ticket sales for live music events will exceed US$25 billion for the first time in 2023 – with total industry revenues set to reach a record $31.5m the same year, reveal the latest PricewaterhouseCoopers (PwC) figures.
The Global Entertainment & Media Outlook 2019–2023, the just-released 2019 update to the consulting firm’s respected annual Outlook report, finds live music ticket sales will increase at a compound annual growth rate (CAGR) of 3.33% from 2018 to 2023, from $21.256bn (projected) in 2018 to $25.036bn in 2023.
Overall live music turnover (ticket sales + sponsorship), meanwhile, will grow 3.11% CAGR, reaching $31.493bn in four years’ time:
Reflecting on another strong showing in 2018, PwC’s commentary on the live sector reads: “The live music sector had another strong year, as leading artists toured the globe. The…
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