live music industry statistics 2020

Industry Data. For artists and labels, certifications and chart positions are great indicators that their song is a massive success. 10. Governments use it to diagnose inefficiencies while organizations use data to predict the future that they want to shape. Physical or pure sales are dying. As of 2019, there are 3,338 independent labels in the US. About $400 million of revenue will come from digital downloads in the US by 2024. Update your browser to view this website correctly. The Recording Industry Association of America or RIAA is the governing body when it comes to giving out certifications. In 2019, live music contributed £4.5 billion to the UK economy. These certifications are divided into four classifications: Gold, Platinum, Multi-Platinum, and Diamond in that order of magnitude. Executive summary Key statistics n In 2019, live music contributed £4.5 billion to the UK economy ² Current Flight Pricing Trends: 2021/2022 Data, Statistics &... 11 Current Business Trends: 2021/2022 Data, Insights &... 44 Credit Score Statistics: 2020/2021 Data By Age,... 56 Marriage Statistics: 2020/2021 Global Data, Analysis &... 35 Shoplifting Statistics: 2020/2021 Data, Trends & Impact. Music festivals in 2018 were attended by 23% of Americans. 1 On the Hot 100, 4 Ways Taylor Swift’s ‘You Need To Calm Down’ Helped Her Make History Inside The Top 10, The 20 Top Selling iTunes Songs of All-Time, Forecast of Digital Music revenue by segment in the United States 2017-2024, Global recorded-music and music publishing market share results for 2018, Market Maker Review: Pricing, Pros, Cons & Features. Today's global recorded music market stands at roughly $20-$21 billion. Barring a major surprise, 2019 will have been the fifth straight year of growth for the global recorded music industry. As result, the WSJ notes, Irving Azoff’s facility company Oak View Group may be planning to spend $3.9 billion to build eight arenas around the country in the next three years, only two of which will house a sports team. Click on the map for the growth figures in each region. Music publishers in the US were estimated to have an annual expense of $2.36 billion. Supersphere, an entertainment production company that specializes in immersive and interactive live broadcast events, has streamed more than 80 events in the past two years, including a string of concerts branded The Audiophile Series that viewers watch using Oculus VR headsets. The average industry growth of independent label music production in the US from 2014 to 2019 is 2.5%. Having the cheap option of paying an average of as little as $10 per month, music lovers are more inclined to avail of streaming services. For over 125 years, Billboard has ranked every album and song released in the US based on how many copies it sold. Each year, billions of dollars are reported as the industry’s annual revenue—writers, producers, artists, labels, and more benefit from the continuous patronage of music fans around the globe. In 2019, Ed Sheeran sold about 2.5 million tickets. That’s a fact. PricewaterhouseCoopers’ Global Entertainment and Media Outlook 2018-2022 report. The Beatles topped Billboard’s Top 125 Greatest of all Time Artists. 9 out of 10 social media users do music-related social media activity. Fans turn out for these events. From phonographs to Walkman to Spotify, these are just a few of the milestones the music industry has gone through. 35% of Americans said that they attended live music concerts in 2018. 2 And then COVID-19 struck, postponing or canceling music events and concerts large and small, wreaking a devastating financial impact. Concerts are one of the many avenues in which labels and artists make money. Since 2006, worldwide music industry revenues have been more than $60 billion each year. As we begin 2020, the music industry’s days of doom and gloom are … While the availability of more arenas to play turns into more potential revenue down the line for national tour sound companies, regional and local audio providers won’t miss out on live music’s continued wave of success. Groups like BTS, EXO, and many more took the world by storm. The US digital and customized radio services revenues were $1.16 billion in 2019. If your business has music-related content, capitalize on the behavior of music consumers to your benefit. Once submitted, the general public can send a request to their local stations to play their favorite artists’ songs. The Australian music industry is facing particular pressures in light of the severe impacts of COVID-19. Banks, consultants, sales & marketing teams, accountants and students all find value in IBISWorld. It’s no secret that artists have been placing more emphasis on touring and concerts to make money, as low-paying streaming continues to erode once-lucrative physical album sales. Shania Twain’s “Come On Over” is RIAA’s highest certified Diamond album from a solo female artist with over 20 million units sold. Smart Speaker Surge: Ownership Expands To One In Four Americans. Moreover, record labels are also responsible for the marketing and radio releases of their artists’ works. Related: State of the Industry 2019: Sound Reinforcement, by Clive Young, Sep. 24, 2019. The number of music tourists, those travelling from overseas or within the UK to get to live events, hit a new high of 11.2m last year, up from 10.9m in 2017. Taylor Swift’s “ME!” featuring Brendon Urie holds the record for the biggest single-week upward movement when it debuted at #100 and jumped to #2, the following week. One of the prominent chart makers is Billboard. A raft of economic research supports that assertion and projects that the industry will continue to grow at a substantial pace in the coming years. In 2018, the US Census Bureau estimated that the revenue of US music publishers was $6.12 billion. The music industry, by its definition, is a group consisting of various companies, producers, and artists that aim to create and sell new kinds of music, concert shows, and more. The way people consume music has drastically changed over the years. Most-Streamed Tracks on Spotify Worldwide as of May 13, 2020, Top Touring Artists of the Decade 2009-2019, Nielsen Releases In-Depth Statistics on Live Music Behavior: 52 Percent of Americans Attend Shows. In 2017, 658 new artists signed to major labels. The convenience brought by the advancement of technology was both a boon for music lovers and, somehow, a bane for the industry. Rock legends like U2 and The Rolling Stones are one of the most in-demand live performers in the past century. According to various year-end reports, streaming is showing no signs of slowing down. In almost all 2019 year-end reports, she is the only one who managed to sell 1 million pure copies. This fact has not been lost on venues; arenas that don’t have to accommodate a major-league sports schedule have upwards of 40 more potential dates each year to play with when determining their concert schedules. Digital sales dominated the Classical genre, accounting for 12% of the total album equivalent units. Source: Music By Numbers, UK Music Published: November 2020 music: Key Govt statistics. In 2018, PricewaterhouseCoopers’ Global Entertainment and Media Outlook 2018-2022 report predicted that the live concert industry’s total revenue will hit $31 billion by 2022, with $24 billion of that coming from ticket sales. Starting from 2017, albums are ranked based on the total sales plus streaming score or SPS. 1s, Doja Cat’s ‘Say So,’ Featuring Nicki Minaj, Tops Billboard Hot 100, Becoming the First No. There’s little question that 2019 will be remembered as one of the biggest years ever for the concert industry. The emergence of music streaming disrupted the relatively straightforward business model of the music industry then. Fathom Events CEO Ray Nutt told Rolling Stone in December, “In terms of a one-time performance, an event in excess of $750,000 in gross box office, such as the ones we’ve done with BTS and the Elvis Presley ’68 Comeback Special, is a success in our books.”. Experts predict that by 2024, almost $5 billion in revenue will come from streaming. Music Streaming Revenue Statistics. Taylor Swift, for example, managed to still cross the 1 million pure first-week sales for her 2017 album, Reputation. 73 Music Industry Statistics: 2020/2021 Facts, Sales & Analysis. The music industry was in crisis just a few years ago. If the recession deepens significantly in the second half of 2020, the combined effect of higher unemployment and reduced consumer spending could result in a worst case scenario of -4.0% annual growth for recorded music. IBISWorld’s Concert & Event Promotion in the U.S. Capturing Concerts for VR, by Alvin Fernald, Aug. 26, 2019, State of the Industry 2019: Sound Reinforcement, by Clive Young, Sep. 24, 2019. Update my browser now. ... 35% of Americans said that they attended live music concerts in 2018. At 8th place, Taylor Swift was the only artist that debuted this century to make the top 10 of Billboard’s Greatest of all Time Artists list. Jazz genre sold the most physical albums in 2019 with 24% from the total SPS. While individual market estimates vary, financial research sources as a whole point to continued strong consumer interest in concerts and live music experiences in the years to come. Before the dawn of the internet and streaming, for an artist to get famous, they need to sign a contract with a label. “I Gotta Feeling” by the Black Eyed Peas is iTunes best-selling song with 31 million copies sold. However, her 2019 album, Lover, failed to cross the 1 million mark with only 679,000 pure sales in its first week. These platforms offer compensation for artists who upload their work based on the number of views or streams it received within a certain period. Shania Twain is the top female soloist with 3 Diamond certifications. The Rolling Stones concerts have the most expensive tickets with an average price of $624. (Business Wire, 2021) In 2019, the global market for music streaming was worth $26 billion. Engagement with streaming drives growth of the global music market . (Business Wire, 2021) The global digital music revenue in 2019 hit $1.5 billion. Conferences, meetings, and events with customers and employees give you a sure way to listen to their voices in real-time. K-Pop fans also listen more to music than the average American. People love listening to their favorite records at home, but investing in a musician or a band and going to a live event provides a valuable social experience. Save my name, email, and website in this browser for the next time I comment. The live music industry – which was worth £4.5 billion to the UK economy in 2019¹ – is one of the business sectors worst affected by the coronavirus pandemic, being among the first to close and very likely to be the last to fully reopen. Social media is used to look for new music by 31% of all teens. There were 225 million paid music subscribers worldwide. Every year, hundreds of artists start their tours around the world to perform in front of thousands of their fans. Industry leaders have warned that the closure of music venues and the impact of social distancing restrictions on the music industry has been catastrophic, and the industry will need support to get back on its growth course. Even in the streaming era, there is still a portion of the population that are fond of radios both online and in the airwaves. “Thriller” by Michael Jackson sold 33 million copies making it RIAA’s highest certified Diamond album by a solo male artist. While individual market estimates vary, financial research sources as a whole point to continued strong consumer interest in concerts and live music experiences in the years to come. A testament to this is the amount of revenue the industry makes from streaming. The biggest record labels like Universal Music Group, Sony, Capitol, and many more are found in the US. And in just a few years, streaming has now become an integral part of the industry. Nowadays, artists can release their songs through streaming platforms like SoundCloud, Spotify, YouTube, and more without the fear of not having full ownership of their works. Streaming is the future of the music industry. IBISWorld’s report notes that music fans have increasingly used the web in recent years to discover new music acts, resulting in a parallel rise in club and theater concerts over the last five years, and that ascent, too, is expected to continue. US consumers spend an average of 4 hours a day listening to music. Jeffrey Brown: Postponed festivals, canceled concerts, shuttered clubs, economic pain for musicians everywhere, in so many ways, 2020 was the year the live music … Nowadays, music has never been more accessible. At wholesale value, revenues grew 5.1% to … Radio is also a popular way to listen to music. The label will then fund an artist’s work, in return for the master license to the songs and albums published within the timeframe in the contract. According to trade publication Pollstar, the concert industry could lose as much as $9 billion in 2020 alone, and that figure, points out Variety, “doesn’t include the losses of … Tags ⋅ Audiophile Series ⋅ Concert Sound ⋅ concert venue ⋅ Fathom Events ⋅ industry forecast ⋅ Live Sound ⋅ Ray Nutt ⋅ Sound Reinforcement ⋅ Supersphere ⋅ trends. Live music has collapsed, but streaming could save the industry, says Goldman Sachs A new report forecasts that the music industry will see a 75% plunge in live music revenue in 2020… Smaller clubs like the End and the 5 Spot provide a proving ground for new bands. From CDs to vinyl to various streaming platforms, music can now be heard virtually anytime and anywhere. The research, carried out on behalf of LIVE, the umbrella group representing the live music industry, found: In 2019 live music supported 210,000 full-time equivalent roles, as well as tens of thousands of freelancers. According to the IFPI’s latest report, Japan’s market was … K-Pop fans also listen more to music than the average American. Revenue for the live music sector has plummeted since large gatherings were banned due to the coronavirus pandemic. Analysis: the music industry enters 2020 on a wave of growth – and optimism. In 2019, digital sales revenue declined by -23.5%. R&B/Hip-Hop with a 27.7% share is the most-consumed genre in 2019. And peering even deeper into the crystal ball, in December, The Wall Street Journal placed the live music business at roughly $28 billion today, and forecast that the industry will be taking in $38 billion annually by 2030. Taylor Swift is the only artist in history to sell 1 million album units in the first week of release for 4 consecutive albums. Even sports teams like the Oakland Athletics…. To support the industry at this time, the first year of Live Music Australia funding in 2020–21 has been adapted to assist live music venues in the recovery phase. The 2010s saw the rise in popularity of K-Pop, for instance. This industry has been around for as early as the Rennaissance period. From then on, the music industry has continuously evolved over the centuries. by Arthur Zuckerman May 24, 2020. ... “We know what an immensely tough year 2020 has been for the music industry … More people were listening on speakers and through earbuds—and they went to shows as well: The US live music and concert industry also experienced strong growth in 2019, with trends on track for another great year in 2020. In 2018, India became the 5th biggest economy in the world in terms of the current GDP. In the first half of 2020, U.S. recorded music revenues grew 5.6% to $5.7 billion at retail value, continuing the positive growth trends of recent years. U2’s 360° Tour has the highest average of attendance with 66,110 attendees per show. Pink is the number one touring artist of 2019 worldwide with a tour gross of $215.2 million. Revenue from physical album sales declined by -15% in 2019. The biggest market share in the industry belongs to independent labels with 41.4%. Current forecasts anticipate a revenue fall for the live music industry of ~90 percent in 2020, a number that will only recover once the global borders are opened to touring acts. Around 80% of live revenue comes directly from ticket sales, while brand sponsorships and merchandise generate another 20%. Additionally, genres also evolved to cater to the new music tastes of the general public. The record for most attended concert belongs to Vasco Rossi with an attendance of 225,173. The Australian live performance sector had a record-breaking year in 2017, according to Live Performance Australia’s 2017 Ticket Attendance and Revenue Report, released this morning. 3 The concert industry … This article will further discuss this through various statistics about the industry below. Nashville’s live music industry functions like an ecosystem. Drake dominated streaming in the last decade, garnering 36,335,298,000 on-demand streams. Sucker by Jonas Brothers garnered 849,000 in radios in 2019. (Billboard) On the other hand, music industry statistics for 2020 w eren’t so promising for Asia. US K-Pop fans outspend the general population on total music spend. “Eagles/Their Greatest Hits 1971-1975” is the highest certified Diamond album by the RIAA which more than 38 million copies. Get up to speed on any industry with comprehensive intelligence that is easy to read. Garth Brooks remains as the artist with the most Diamond certifications with eight. Each month we help +100k companies to find efficient online tools. “The Dark Side Of The Moon” by Pink Floyd is the longest-charting album on the Billboard Hot 200 with 950 weeks. Drawing primarily on Citi and PwC estimations, the total revenue of the live industry can be put at around $9,5 billion. The number of paid subscribers grew by 27.8% from 2017 to 2018. Published: January 2, 2020. A study on the global music industry has shown that the worldwide live music industry will manage to generate total revenue of $31.49 billion by 2023. Taylor Swift topped the 2019 list for song sales, selling over 75,893,000 copies. 1 For Each, Here Are the 37 Hits That Have Debuted at No. While year-end tallies of 2019’s top-grossing tours weren’t yet available as we went to press, there’s little question that this year will be remembered as one of the biggest ones ever for the concert industry. New artists and songwriters need a place to play before they have a major following, and to improve as musicians before they ink record and publishing deals. Ariana Grande.

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