US Returning to Live Entertainment Market Report 2022
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Report Summary
“The pent-up demand for live entertainment from the days of severe lockdowns has lessened as waves of COVID-19 variants derailed performances earlier this year. The market is recovering, but aside from a booming concert scene, attendance has yet to return to prepandemic levels. Continuing COVID-19 precautions such as mask requirements and encouraging event discovery via social media and fostering word of mouth online could help boost audiences for Broadway shows and struggling performing arts organizations.”
– Kristen Boesel, Senior Lifestyles and Leisure Analyst
This Report looks at the following areas
- The size and forecast for the live entertainment market (excluding live sports)
- Types of live events attended in the past 12 months and key demographics of event attendees
- Sources of information for learning about live events to attend
- Preferred ticket buying methodologies
- Concerns and potential barriers for attending live events in the future
Table of Contents
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Overview
- What you need to know
- This Report looks at the following areas
- Definition
- Market context
- What you need to know
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Executive Summary
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- Top takeaways
- Market overview
- Figure 1: Total US revenues and fan chart forecast of live entertainment, at current prices, 2017-27
- Source: Bureau of Economic Analysis /Mintel
- Opportunities and challenges
- Millennial men drive the live events market
- Figure 3: Live events attended in the past 12 months, Millennial men vs. total adults, 2022
- High inflation cuts into lower-income fans’ live event budgets
- Figure 4: Agreement that rising costs will minimize live event attendance, by gender, 2022
- At least half of all event attendees are concerned about exposure to COVID-19 at events
- Figure 5: Attitudes toward COVID-19 and live events, 2022
- Social media is integral to event discovery
- Figure 6: Social media-related sources of information about upcoming events, by age, 2022
- Key consumer insights
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Market Size and Forecast
- On track for recovery, but challenges remain
- Figure 7: Total US revenues and fan chart forecast of live entertainment, at current prices, 2017-27
- Figure 8: Total US revenues and forecast of live entertainment, at current prices, 2017-27
- On track for recovery, but challenges remain
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Live Entertainment by the Numbers
- Concerts & Festivals
- Broadway
- Performing Arts
- Concerts & Festivals
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Market Factors
- Economic factors limit entertainment spending
- Inflation reallocates budgets away from leisure spending
- Figure 9: Consumer Price Index change from previous year, 2007-22
- Dropping DPI means less money to spend on live entertainment
- Figure 10: Disposable Personal Income change from previous period, 2020-22
- Volatility threatens patrons of the arts
- Ongoing pandemic continues to influence live entertainment market
- COVID-19 concerns keep some audiences away
- Ticket buying habits have changed
- Slow return of employees to offices hurts entertainment venues
- Economic factors limit entertainment spending
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Companies and Brands
- LiveNation and Ticketmaster dominate live music market
- Tech enables a heated secondary market
- Netflix wants fans to be in on the jokes
- Extended runs at fewer venues help artists minimize touring costs
- Hulu helps make festival season more accessible
- Big names and revivals bring some hope to Broadway
- LiveNation and Ticketmaster dominate live music market
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Current Opportunities
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- Meeting fans’ needs via the lens of the Experiences Trend Driver
- Figure 11: Mintel Consumer Trend Driver Experiences
- Contests can inspire hope and enjoyment
- Figure 12: Instagram ad promoting contest for the ultimate Bonnaroo experience, 2022
- Encourage travel to destination events
- Figure 13: Interest in planning an overnight stay for a live entertainment event this year, by age and gender, 2022
- Encourage the gifting of experiences
- Meeting fans’ needs via the lens of the Value Trend Driver
- Figure 14: Mintel Consumer Trend Driver Value
- A third of fans plan to cut back on entertainment spending
- Figure 15: Agreement that rising costs will minimize live event attendance, by gender, 2022
- Despite inflation, there’s interest in premium entertainment packages
- Figure 16: Attitudes toward paying for live event “extras,” by age and gender, 2022
- Opportunities for bundled travel deals
- Meeting fans’ needs via the lens of the Technology Trend Driver
- Figure 17: Mintel Consumer Trend Driver Technology
- Live streamed entertainment events are better than nothing
- Figure 18: Virtual events watched in the past 12 months, 2022
- Four in 10 fans are interested in attending events in the metaverse
- Figure 19: Roblox Instagram post, 2021
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The Live Entertainment Consumer – Fast Facts
- 56% of all adults paid for a live entertainment event in the past 12 months
- 66% of event attendees learn about entertainment events from social media
- 42% of event attendees typically buy tickets as soon as they are available
- 56% of event attendees worry about exposure to COVID-19
- 56% of all adults paid for a live entertainment event in the past 12 months
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Live Events Attended
- Slight majority of adults attended a live event in the past year
- Figure 20: Live events attended in the past 12 months, 2022
- Millennial men drive the live events market
- Figure 21: Live events attended in the past 12 months, Millennial men vs. total adults, 2022
- Dads don’t shy away from live events
- Figure 22: Live events attended in the past 12 months, parents vs. total adults, 2022
- Consider highlighting for Dads the potential live events have for bonding opportunities
- Figure 23: Nari and Sarita Rampersad attend a Harry Styles concert, 2022
- Attending live events requires a certain amount of wealth; foodservice partnerships can help
- Figure 24: Adults who have paid to attend any live event in the past 12 months, by household income, 2022
- More-affluent Black fans are especially engaged with comedy and music festivals
- Figure 25: Adults who attended comedy events or music festivals, by race, Hispanic origin and household income, 2022
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- Figure 26: Instagram post promoting Sherri Shepherd at the Martha’s Vineyard Comedy Fest, August 2022
- Slight majority of adults attended a live event in the past year
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Learning about Events
- Social media is crucial for promoting live events
- Figure 27: Sources of information about upcoming events, 2022
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- Figure 28: Social media platforms visited at least once per day, by age, 2022
- Older Millennials rely more on paid social media ads
- Figure 29: Social media-related sources of information about upcoming events, by age, 2022
- Nostalgic tours will appeal to older Millennials
- Figure 30: Live Nation Instagram advertisement for Alanis Morissette’s world tour, 2022
- Men aged 35-54 access information across a wider number of sources
- Figure 31: Average number of sources of information used to learn about upcoming live events, by gender and age, 2022
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- Figure 32: Sources of information about upcoming events, by gender, 2022
- Online resources outside of social media are important for older fans
- Figure 33: Digital sources of information about upcoming events, by age, 2022
- Opportunities to give older ladies a day out at the theater
- Social media is crucial for promoting live events
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Buying Tickets
- Four in 10 fans buy tickets as soon as they can
- Figure 34: Attitudes and behaviors related to ticket purchasing, 2022
- Younger Millennials drive mobile purchasing
- Figure 35: Event attendees who typically buy tickets on a mobile app, by gender and age, 2022
- Little interest in ticket insurance
- Figure 36: Live Nation Facebook creative, 2021
- Music events rely on ticket distributors
- Box office sales remain relevant for performing arts
- Figure 37: Ticket purchase methods, by type of event, 2022
- Four in 10 fans buy tickets as soon as they can
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Concerns
- Visible COVID-19 precautions remain necessary
- Figure 38: Attitudes toward COVID-19 and live events, 2022
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- Figure 39: Comfort with COVID-19 precautions, by age and gender, 2022
- Black event goers also want to see COVID-19 precautions
- Figure 40: Comfort with COVID-19 precautions, by race and Hispanic origin, 2022
- A third of female eventgoers are hesitant to attend events due to safety
- Figure 41: Concerns about safety in large events (eg overcrowding, assault), by gender, 2022
- Opportunities to leverage the Technology Driver to protect eventgoers’ Rights
- Visible COVID-19 precautions remain necessary
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Appendix – Data Sources and Abbreviations
- Data sources
- Desk research
- Sales data
- Forecast
- Consumer survey data
- Marketing creative
- Abbreviations and terms
- Abbreviations
- Data sources
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Appendix – The Market
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- Figure 42: Total US revenues and forecast of live entertainment, at inflation-adjusted prices, 2017-27
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About the report
This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.
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