Entertainment Venues - US - December 2013
“Live Nation and AEG have emerged as the dominant forces in live entertainment by controlling all aspects of the value chain. Yet, ticket prices have increased while ticket sales have remained relatively flat. There are opportunities for new business models to emerge to reduce ticket prices and increase attendance and ways for regional players to compete by offering high quality family entertainment at reasonable prices.”
– Fiona O’Donnell, Senior Lifestyles & Leisure Analyst
This report looks at the following areas:
- Is too much focus placed on amenities for premium customers?
- Can regional/local venues compete with Live Nation and AEG and their stable of stars?
- Are today’s ticket prices sustainable?
- Can the live experience be enhanced?
Out-of-home entertainment remains a popular activity among Americans. Two thirds of all adults have attended a live entertainment event within the last 12 months (excluding sporting events) – which equates to roughly 157 million participants. The most popular venues include outdoor street or city festivals, bars, sports arenas/stadiums, and small theaters. Among those who attended any live entertainment events, paid events are more popular than free ones, indicating that value is attached to paying for an event. However, attendance is dropping for leading performing arts categories including musicals, classical music concerts, and nonmusical plays, and attendance for the top 100 North American tours has been flat. Venues and promoters need to develop new ways to attract attendees to the performing arts through education, the unique qualities of live events, and more affordable ticket options.
This report examines consumers’ attitudes toward live events, both free and paid, and takes an in-depth look at the market for live music concerts and festivals.
For the purposes of this report, Mintel concentrates on live events, excluding sporting events, held at the following types of venues:
- Sports arena or stadium
- Destination festival (eg, Bonnaroo, Coachella, Lollapalooza)
- Small theater (<1,000 capacity)
- Large theater (1,000-3,000 capacity)
- Small music club (300 or less capacity)
- Mid-sized music club (301-999 capacity)
- Large music club (1,000-1,500 capacity)
- Opera house/symphony hall
- Kiwanis hall/local community center/church/school
- Outdoor street or city festival.
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