Deloitte shall not be responsible for any loss sustained by any person who relies on this publication. Live music has been about 33% of these total revenues each and every year. Kevin is a vice chairman and leads the US Technology, Media & Telecommunications (TMT) practice of Deloitte; as well as serves as the global Telecommunications, Media and Entertainment (TME) practice ... More, How new technology will shape the future of telecommunications. 1. This statistic shows the results of a survey on the most popular advantages of live entertainment over recorded entertainment worldwide in 2018. This publication contains general information only and Deloitte is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. As major networks and studios continue to launch their own direct-to-consumer streaming services in 2020, competitors will likely scramble to offer content libraries broad enough to both attract and retain customers. This message will not be visible when page is activated. This section provides information relating to employment and unemployment in arts, entertainment, and recreation. The events sector is worth £42.3 billion to the UK economy in terms of direct spend by event delegates, attendees and organisers, an 8% rise on the previous report. 2020 Media and Entertainment Industry Outlook has been saved, 2020 Media and Entertainment Industry Outlook has been removed, An Article Titled 2020 Media and Entertainment Industry Outlook already exists in Saved items. A podcast by our professionals who share a sneak peek at life inside Deloitte. Definitions Do you want access to consumer Photo credit: Vibrant Emotional Health 2018 Annual Report. statistical modeling, and validation. PwC’s Global Entertainment & Media Outlook provides a single comparable source of consumer and advertiser spending data and analysis. The … Retail sales in every sector of the music industry are declining except for online streaming music and live music. 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[45] Also, in terms of sources from which US users stream live videos; digital streaming subscription leads at 43%, followed by social platforms (40%), TV network site or app (32%), gaming sites (28%), and pay-TV services provider sites (17%). According to the Bureau of Labor Statistics, the average American spent $3,226 on entertainment in 2018, a … Live and recorded music sales are rising, and digitally recorded music is expected to grow just under $1 billion in 2019. The live music and entertainment sector underwent significant changes and consolidation in 2019 - even before the onset of COVID-19 and its devastating impact on this part of the industry. Pages in category "Entertainment industry" The following 17 pages are in this category, out of 17 total. Revenue from live performances, such as concerts or the theatre, hit £2.1bn last year and is expected to grow a further 7% this year, according to a report from Deloitte. Certain services may not be available to attest clients under the rules and regulations of public accounting. DTTL (also referred to as "Deloitte Global") does not provide services to clients. Companies in this industry sector produce or promote live entertainment and other events, operate amusement and leisure activity facilities, or preserve and exhibit objects and … UK Event Industry Facts & Stats. Every year we take a deep dive into the data and analysis that our team of researchers and industry specialists have unearthed – with the aim of providing According to a new study from Pricewaterhouse Coopers (PwC), the live concert industry will experience significant growth during the next few years. The International Live Music Conference is a professional event for those working at the top of the concert industry, but for a quick and easy description of the business, please read on… The live music business is a significant multinational industry, employing hundreds of thousands of people worldwide and estimated to be worth more than €25 billion annually (source: IFPI). Taking action against systemic bias, racism, and unequal treatment, Key opportunities, trends, and challenges, Go straight to smart with daily updates on your mobile device, See what's happening this week and the impact on your business. This box/component contains JavaScript that is needed on this page. 2. Economic development, often quantified in terms of productivity or output per person-hour, has enabled goods and services to be produced with fewer labor inputs. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the "Deloitte" name in the United States and their respective affiliates. Last year, the live concert industry generated 16% more revenue over 2016, bringing in $5.7 billion. It might be a bit of a grind to get out on the road and do a show or two every day, but there is no better way to really get exposure for an artist’s music. What are the key trends, challenges, and opportunities that may impact your business and influence your strategy? In 2016, about 47 percent of Europeans listened to the radio daily. Live music has been about 33% of these total revenues each and every year. Since 2006, worldwide music industry revenues have been more than $60 billion each year. Banks, consultants, sales & marketing teams, accountants and students all find value in IBISWorld. Note: The only source of all consumer and advertising spend data is the Global entertainment and media outlook; however, all the data, charts, and graphs (unless stated otherwise) in this publication are taken from the Global entertainment and media outlook. 6. 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. Since 2006, worldwide music industry revenues have been more than $60 billion each year. Most (41%) marketers believe that events are the single-most effective marketing channel over digital advertising, email marketing and content marketing. The live music industry will always be around because of the social desire to sing a favorite song created by a favorite band with others who feel the same way. 2. Leisure time has been a determining factor in the development of recreation and entertainment as an industry. Regardless of how you influence business decisions, the Outlook can help you understand industry trends so you can capitalise on … 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. Live music is one of the most popular methods of entertainment in every age group and demographic. Events Industry by Type (Music Concert, Festivals, Sports, Exhibitions & Conferences, Corporate Events & Seminars, and Others), Revenue Source (Ticket Sale, Sponsorship, and Others), Organizer (Corporate, Sports, Education, Entertainment, and Others), and Age Group (Below 20 years, 21–40 years, and 41 years & Above): Global Opportunity Analysis and Industry Forecast, 2019–2026 Discover Deloitte and learn more about our people and culture. Events industry behemoth Live Nation sold 52.5 million tickets in 2017 — almost 40 million more than closest competitor AEG. Entertainment has grown as an industry in step with increased income and time available for leisure and recreation. U2’s Joshua Tree tour topped the Top 100 Worldwide Tours chart. Who doesn’t like going to a concert? From Disabled and $500k in Debt to a Pro Blogger with 5 Million Monthly Visitors, 9 Fascinating Live Music Industry Statistics, "From Disabled and $500k in Debt to a Pro Blogger with 5 Million Monthly Visitors. This publication is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business. Add in the atmosphere that music can bring to a restaurant, bar, pub, or even just a coffee shop and there’s always a venue somewhere that will allow anyone to play. 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