It was billed as the saviour of the music industry, and the way to make money while CD sales dropped further each year. But the live music industry stuttered last year, analysts have revealed.
In the UK, live music revenues dropped by 6.7%, after a decade of growth that saw income increase by 9.4% in 2009 and 13% in 2008, said Chris Carey, economist at PRS for Music, the rights collecting body.
Bon Jovi failed to sell out their arena tour last year, while fans of Paul McCartney could get tickets at less than face value before his Hard Rock Calling gig in Hyde Park last summer.
The article is a good read but leaves out one thing: The Effect of the Recession on ticket sales.In Europe the picture was worse – with arena music gigs seeing a 16% drop in attendances. But ticket sales for European festivals, like Soundwave in Croatia where young revellers dance day and night at boat parties, were still healthy, he said. There was a 6% increase in attendances in 2010, a 15% increase in capacity and 10% more EU festivals sold out.
When times are good spending over $100 USD on a halfway decent seat is doable. But when you lost your job, gas prices are over 4 bucks per gallon and your wondering how you are going to pay your bills a $100, $75, $50, $25 dollar ticket for a crap seat is not on your shopping list.