Share of Music spent
Music consumption is at an all-time high. The overall volume is up 3% over 2016. Rapid changes in technology and distribution channels are changing the way we discover and engage with content. When music connects with fans, the impact is strong and fast.
Live music dominates music spending with 36% concerts, small 5% live music sessions and 8% Music festivals.
Source: Nielsen Holdings,. (2017). 2016 US Music Year-end Report. New York City: nielsen.com. Retrieved from http://www.nielsen.com/us/en/insights/ reports/2017/2016-music-us-year-end-report.html
Global Live Music Revenue – Total addressable Market (TAM)
According to Nielsen’s 2016 U.S. Music Year-End Report, live music dominates spending in the industry, accounting for 36% of all music industry spending (Nielsen Holdings, 2017). The following graph from PwC LLP outlines the anticipated growth in total live music revenues.
Source: Global entertainment and media outlook 2016-2020, PwC, Ovum
Live Music Attendance
Nielsen’s 2016 U.S. Music Year-End Report also includes a study of live music attendance among the consumer segments teens and millennials. Shown below, Nielsen’s results suggest that live concerts with one main headliner still dominate and events with multiple headliners and larger concert festival events are increasingly popular (Nielsen Holdings, 2017).
Source: Nielsen Holdings, (2017). 2016 US Music Year-end Report. New York City: nielsen.com. Retrieved from http://www.nielsen.com/us/en/insights/ reports/2017/2016-music-us-year-end-report.html