New figures launched by Stay Nation reveal that extra persons are attending reside occasions than ever earlier than.
With the reside music trade having been primarily decimated by the Covid-19 pandemic, followers are clamouring to attend exhibits in a post-pandemic world.
Stay Nation, which describes itself because the “world’s main reside leisure firm”, launched its monetary outcomes for the primary quarter of 2023 – and it makes for encouraging studying for the music trade.
Income is up, year-on-year, by 73% to $3.1billion and to date, greater than 90million gig tickets have been purchased. Stay Nation expects to handle 600million international ticket gross sales in 2023.
The outcomes additionally present than followers are spending more cash when at gigs, and that enhanced experiences – akin to premium location tickets – have been promoting effectively.
Michael Rapino, Stay Nation’s President and Chief Government Officer, says: “What is obvious as we take a look at our outcomes and working metrics is that international demand for reside occasions continues to achieve new heights – demand has been rising for a very long time and is exhibiting no indicators of letting up.
“Speaking to followers, they are saying that reside experiences are the primary leisure class the place they anticipate to spend extra sooner or later. Naturally, that is resulting in file ranges of exercise in each our live shows and ticketing companies.
“We anticipate to host a file variety of followers this yr, even towards a 2022 comparability which benefited from rescheduled exhibits attended by 20 million followers.
“Ticketmaster must also ship file exercise, with round 600 million tickets managed globally this yr. Our sponsorship enterprise, even after unbelievable progress final yr, appears to be like to be on observe for double-digit AOI (Adjusted Working Revenue) progress once more this yr.
“As we then look to 2024 and past, we now have all the required levers to construct our flywheel globally and proceed to compound AOI by double-digits for the foreseeable future.”
Regardless of this upturn within the variety of folks attending exhibits, the pandemic has had a long-lasting affect on the price of working reside occasions. Quite a few bands have pulled the plug on excursions because of skyrocketing gasoline and journey prices.
Final month, Anthrax cancelled a string of European pageant dates. And final yr, they pulled out of 20 exhibits in Europe as a part of their fortieth anniversary celebrations, blaming spiralling prices.
Additionally in April, The Agonist cancelled a deliberate European tour.
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