Wednesday, 14 January 2015

Do music fans now spend more on live music than recorded music?

Well, it wouldn't be difficult: live music events are now incredibly costly. And recorded music has never been cheaper.

But you won't find this detail in here where Music Week's Tim Ingham discusses findings from a new report from Neilsen which suggests that music fans in USA now spend more money on live music events than CDs, digital downloads, and music streaming combined.

It wouldn't surprise me.

It represents an ongoing shift in the music industry where for most musicians, the bulk of their income is from the live music sector.

The report of course deals in averages, but a good question to consider is this: if you could add up how much you spent on recorded music annually say 10 years ago, and how much you spend today, would it be more or less? Undoubtedly less. Then, if you could do the same for live music, would it be more or less? Most likely more, assuming you enjoy going to live concerts and do so when you can.

There's more concerts on the go more regularly and by a larger variety of bands than ever before, so it makes sense that people are spending more money on them.

It's where things are going, because artists can secure financial rewards from live performance (as much as 85% of revenues in fact, compared to around 10% for recorded music).

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