UK Music Concerts and Festivals Market Report 2022
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Description
“The live music industry is well-positioned to navigate the cost of living crisis. Having been deprived of attending events as a result of the pandemic, there is significant pent-up consumer demand for live music and this will lead many people to prioritise spending money on tickets. Meanwhile the livestreaming of events can help the sector to reach those who can’t justify the cost of attending in-person, whilst also generating an ancillary revenue stream.”
– Paul Davies, Category Director – Leisure, Travel and Foodservice, May 2022
Key issues covered in this Report
- How the cost of living crisis will impact the live music industry.
- Overview of the key players in the industry as well as recent innovations.
- Participation in attending music concerts and festivals, both in person and via livestream.
- Future interest in attending music events in person and via livestream.
- Motivations for attending events in person versus via livestream.
- Attitudes towards music concerts and festivals, including the use of technology throughout the customer journey.
Table of Contents
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Overview
- Key issues covered in this Report
- Market context
- Products covered in this Report
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Executive Summary
- The five-year outlook for music concerts and festivals
- Figure 1: Category outlook for music concerts and festivals, 2022-27
- The market
- A stuttered recovery for the live music market in 2021…
- …but pent-up demand will finally be released in 2022
- Figure 2: Market forecast for the value of the music concerts and festivals, 2016-26
- Companies and brands
- Leading operators are confident about the market’s recovery
- Campaigns to encourage the return of crowds
- Improving confidence in ticket resale
- The consumer
- Concert attendance back to around 75% of its normal level
- Figure 3: Music concert participation, 2022
- A fifth of consumers made it to a festival despite cancellations
- Figure 4: Music festival participation, 2022
- Livestreaming participation surpassed in-person attendance
- Figure 5: Participation in livestreaming music events, 2022
- Fans are four times as likely to pay to attend events in person than online
- Figure 6: Plans to attend music events in the next 12 months, 2022
- Younger consumers crave new experiences
- Figure 7: Reasons for attending a music concert/festival, 2022
- Using technology to connect with fans
- Figure 8: Attitudes towards music concerts and festivals, 2022
- Sustainability is a growing concern among concert/festival-goers
- The five-year outlook for music concerts and festivals
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Issues and Insights
- Live music industry well-positioned to navigate the cost of living crisis
- Utilising technology to connect with fans
- Streamed events strengthen ties with music’s core audience…
- …and provide a way to reach those impacted by the cost of living
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Market Size and Performance
- A stuttered recovery for the live music market in 2021
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- Figure 9: Market size for value of music concerts and festivals, 2016-21
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Market Forecast
- The five-year outlook for music concerts and festivals
- Figure 10: Category outlook for music concerts and festivals, 2022-27
- Pent-up demand for live events is finally released
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- Figure 11: Market forecast for the value of the music concerts and festivals, 2016-26
- Learnings from the last income squeeze
- Market drivers and assumptions
- Figure 12: Key economic drivers, 2016-26
- Forecast methodology
- The five-year outlook for music concerts and festivals
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Market Drivers
- Music’s core audience is less concerned than most about COVID
- Figure 13: Plans to attend in-person music events in the 12 months following March 2022 and concerns about exposure to COVID-19 in April 2022
- Event attendance is close to pre-pandemic levels
- Figure 14: Attendance and planned attendance at concerts/sporting events/theatres, 2019-22
- End of reduced VAT rate puts grassroots venues at risk
- The conflict in Ukraine will hurt the UK economy
- GDP reached pre-pandemic levels in November 2021…
- …but the post-COVID-19 bounceback will be followed by a period of slower growth
- Employment has held up better than expected
- Inflation is the key concern for 2022 for consumers, brands and the economy
- Consumers’ financial wellbeing has slipped from its recent high point…
- Figure 15: Household financial wellbeing index, 2016-22
- …but concert and festival attendees should be better-placed than many to deal with the rising cost of living
- Music’s core audience is less concerned than most about COVID
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Launch Activity and Innovation
- Campaigns to encourage the return of crowds
- Buzz is Back
- #GoLocal campaign
- Improving confidence in ticket resale
- Ticketpass launches ethical resale platform
- S.J.M. partners with Twickets
- TicketSwap joins STAR
- Sustainable music touring
- LIVE commits to a greener future
- Coldplay aims to set the tone with experimental eco-friendly initiatives
- Festivals put sustainability at the heart of their offer
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Advertising and Marketing Activity
- Adspend began to recover in 2021
- Figure 16: Total above-the line, online display and direct mail advertising expenditure on music concerts, 2019-21
- Amazon enters the livestreaming fray
- Figure 17: Total above-the line, online display and direct mail advertising expenditure on music concerts, by top 10 advertisers in 2021, 2019-21
- Nielsen Ad Intel coverage
- Adspend began to recover in 2021
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Key Players
- Live Nation
- S.J.M. Concerts
- Deutsche Entertainment AG (DEAG)
- AEG Presents
- DHP Family
- Glastonbury Festival
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Music Concert Participation
- Concert attendance back to around 75% of its normal level
- Figure 18: Music concert participation, 2022
- Music concerts benefit from their young audience
- Figure 19: Music concert participation, by age, 2022
- Concert attendance back to around 75% of its normal level
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Music Festival Participation
- A fifth of consumers made it to a festival despite cancellations
- Figure 20: Music festival participation, 2022
- A fifth of consumers made it to a festival despite cancellations
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Livestreamed Events
- Livestreaming participation surpassed in-person attendance
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- Figure 21: Participation in livestreaming music events, 2022
- Streamed events strengthen ties with music’s core audience
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- Figure 22: Participation in livestreaming music events, by participation in attending in-person music events, 2022
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Future Interest in Events
- Fans are four times as likely to pay to attend events in person than online
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- Figure 23: Plans to attend music events in the next 12 months, 2022
- Metropolitan music venues can meet demand for socialising
- Figure 24: Plans to attend in-person music events in the next 12 months, by age, 2022
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Motivations for Attending Live Events
- Younger consumers crave new experiences
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- Figure 25: Reasons for attending a music concert/festival, 2022
- New immersive venues will appeal to consumers’ desire for escapism
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Motivations for Paying to Livestream
- Livestreaming will remain important beyond the pandemic
- Figure 26: Reasons for paying to livestream music concerts/festivals, 2022
- XR concerts provide a blueprint for the metaverse
- Livestreaming will remain important beyond the pandemic
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Attitudes towards Music Concerts and Festivals
- Utilising technology to connect with fans
- Figure 27: Attitudes towards music concerts and festivals, 2022
- Sustainability is a growing concern among concert/festival-goers
- Utilising technology to connect with fans
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Appendix – Data Sources, Abbreviations and Supporting Information
- Abbreviations
- Consumer research methodology
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Appendix – Forecast Methodology
- Market forecast and prediction intervals
- Figure 28: Market forecast for the value of the music concerts and festivals, 2016-2026
- Figure 29: Market forecast for the value of the music concerts and festivals, 2021-26
- Market drivers and assumptions
- Forecast methodology
- Market forecast and prediction intervals
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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*databooks not available with UK B2B Industry reports.
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