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Large Drops in the Live Music and Concert Industries. The live music industry saw a 75% decline in 2020, according to Goldman Sachs. Up to 85% of live music revenue will be lost in the United ...
As fans lament the loss of live music during the nearly year-long pandemic, many who work in the live music business are struggling to survive. In a report published on Friday, music industry ...
The world's largest recorded music markets are listed annually by the International Federation of the Phonographic Industry (IFPI). The ranking is based on retail value (rather than units) each market generates respectively per year; retail value generated by each market varies from year to year.
The main branches of the music industry are the live music industry, the recording industry, and all the companies that train, support, supply and represent musicians. The recording industry produces three separate products: compositions (songs, pieces, lyrics), recordings (audio and video) and media (such as CDs or MP3s , and DVDs ).
In the early 21st century, tour revenue skyrocketed as record sales collapsed and musicians began relying on live shows for their income. [4] The first tours to surpass $100 million in revenue, according to reports, were Michael Jackson's Bad World Tour and Pink Floyd's A Momentary Lapse of Reason Tour, both of which ran from 1987 to 1989.
The IFPI Global Music Report has long been viewed as the definitive snapshot of the international music industry’s health (or otherwise). After all, the global recorded music industry trade body ...
In 2023, the music industry recorded its highest revenue of all time, with over $8.4 billion in the first half of 2023. The RIAA reported that the number of people with streaming subscriptions had more than doubled since 2019. [45] The Eras Tour, Taylor Swift's sixth headlining concert tour, became a cultural and economic phenomenon as well.
The U.S. Bureau of Labor Statistics reported last month that movie and concert admissions prices climbed just 3.4% year ... But experts say recent economic trends in the live-music industry ...