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Live Entertainment - US - August 2012

This report explores the live entertainment market in the U.S. It provides insight into the external and internal factors affecting ticket sales and what they mean for future ticket sales, marketing and promotional campaigns and industry innovations.

This report provides an in-depth examination of the live entertainment market for industry promoters, venue operators, ticketing companies and marketers interested in pursuing opportunities to innovate trends within segments and to evaluate the competition.

Segmentation data and analysis covers three segments: live music concerts, Broadway theater and touring Broadway theater.

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Table of contents

  1. Scope and Themes

    • What you need to know
      • Definition
        • Data sources
          • Sales data
            • Consumer survey data
              • Abbreviations and terms
                • Abbreviations
                  • Terms
                  • Executive Summary

                      • The market
                        • Figure 1: Fan chart forecast of live entertainment revenues, at current prices, 2007-17
                      • Market factors
                        • Industry raising ticket prices to make up for decline in ticket volume
                            • Figure 2: Total tickets sold for the top 100 tours, 2003-11
                            • Figure 3: Average ticket price for the top 100 tours, 1997-2011
                          • Mobile ticketing groomed by smartphone growth
                            • Figure 4: U.S. supplier sales of smartphones, 2004-11
                          • Segmentation
                            • Figure 5: Total U.S. live entertainment revenues, by segment, 2007-17
                          • Music concert revenue increases 2% in 2011 following 9% rise in average ticket price
                            • Broadway revenue increases 3% in 2012 due to 7% rise in average ticket price
                              • Touring Broadway revenue declines 15% in 2011 due to 20% decline in number of shows
                                • The consumer
                                  • Consumers most likely to have attended free festivals with most frequency
                                    • Figure 6: Types of live entertainment events visited, by gender, April 2012
                                  • Parking is a hassle, deterrent
                                    • Figure 7: Reasons for not attending live events, by gender, April 2012
                                  • More than half of those aged 18-24 use social media to research events
                                    • Figure 8: How consumers research/learn about live entertainment attended in the past year, by age, April 2012
                                  • Most prefer printing out tickets at home
                                    • Figure 9: Preferred way of accessing tickets, by gender, April 2012
                                  • Youngest respondents most likely to pay more for socialization perks
                                    • Figure 10: What consumers are willing to pay extra for (in addition to ticket), 18-24 and 25-34 year olds, April 2012
                                    • Figure 11: What consumers are willing to pay extra for (in addition to ticket), 45-54 and 55-64 year olds, April 2012
                                  • Black respondents most willing to pay extra for premium perks
                                    • Figure 12: What consumers are willing to pay extra for (in addition to ticket), by race/Hispanic origin, April 2012
                                  • What we think
                                  • Issues in the Market

                                      • Increasing ticket prices becoming strategy to combat decreased sales
                                        • Secondary market competition forcing primary operators to change
                                          • Market consolidation creates new opportunities
                                          • Insights and Opportunities

                                            • Help consumers save time during frantic period when tickets go on sale
                                              • Invite local food vendors, food trucks to provide concessions
                                                • Open pop-up shop outside venue to sell merchandise, hype shows
                                                  • Mobile credit card readers can encourage ticket purchasing anywhere
                                                  • Trend Application

                                                      • Inspire trend: Brand Review
                                                        • Inspire trend: Who Needs Humans
                                                          • Inspire 2015 trends
                                                            • Access Anything, Anywhere
                                                            • Market Size and Forecast

                                                              • Key points
                                                                • Market reverses 2010 revenue drop by increasing ticket prices in 2011
                                                                    • Figure 13: Total U.S. live entertainment revenues, at current prices, 2007-17
                                                                    • Figure 14: Total U.S. live entertainment revenues, at inflation-adjusted prices, 2007-2017
                                                                  • Fan chart forecast
                                                                      • Figure 15: Fan chart forecast of live entertainment revenues, at current prices, 2007-17
                                                                  • Market Drivers

                                                                    • Smartphone growth driving mobile ticketing opportunities, partnerships
                                                                        • Figure 16: U.S. supplier sales of smartphones, 2004-11
                                                                        • Figure 17: U.S. unit sales and average unit price of smartphones, 2004-11
                                                                      • Spending flattens as rise in personal, disposable incomes remain slow
                                                                          • Figure 18: Changes in real disposable personal income and real consumer spending, February-May 2012
                                                                        • Companies enhancing online ticket buying to ensure consumer loyalty
                                                                          • Music sponsorships estimated at $1.17 million in 2011
                                                                              • Figure 19: Music sponsorship spending on entertainment venues and tours, 2006-11
                                                                            • Heritage artists dominate tour sales, not current hitmakers
                                                                                • Figure 20: Top-grossing world tours, 1997-2011
                                                                            • Segment Performance—Overview

                                                                              • Key points
                                                                                • Broadway Theater only segment to increase revenue in 2009-11
                                                                                  • Figure 21: Total U.S. live entertainment revenues, by segment, 2009 and 2011 *
                                                                                • Live entertainment revenues increased nearly 10% between 2007-11
                                                                                  • Figure 22: Total U.S. live entertainment revenues, by segment, 2007-17
                                                                              • Segment Performance—Music Concerts

                                                                                • Key points
                                                                                  • Industry relying on higher ticket prices to increase revenue growth
                                                                                      • Figure 23: Total U.S. music concert revenues, at current prices, 2007-17
                                                                                      • Figure 24: Average ticket price for the top 100 tours, 1997-2011
                                                                                    • Ticket price hike leads to ticket volume reverse to 2001 level
                                                                                        • Figure 25: Total tickets sold for the top 100 tours, 2003-11
                                                                                    • Segment Performance—Broadway Theater

                                                                                      • Key points
                                                                                        • Broadway’s revenue growth attributed to 7% ticket price increase
                                                                                          • Tourists represent two thirds of tickets sold in 2011-12 season
                                                                                              • Figure 26: Total U.S. Broadway theater revenues, at current prices, 2007-17
                                                                                            • Broadway paid attendance increases 2%, but playing weeks fall 4%
                                                                                              • Figure 27: Broadway show paid attendance and playing weeks, 2006-12 *
                                                                                            • Average ticket price increases nearly 20% since recession started
                                                                                              • Figure 28: Average paid admission ticket price on Broadway, 2005-06 season-2009-10 season
                                                                                          • Segment Performance—Touring Broadway Theater

                                                                                            • Key points
                                                                                              • 20% drop in playing week leads to declines in revenue, attendance
                                                                                                  • Figure 29: Total U.S. Touring Broadway theater revenues, at current prices, 2007-17
                                                                                                • Fewer producers sending plays on road due to fears of costs
                                                                                                  • Figure 30: Touring Broadway show paid attendance and playing weeks, 2006-11
                                                                                              • Concert Promoters

                                                                                                • Key points
                                                                                                  • Live Nation, AEG Live control more than 75% of ticket volume
                                                                                                      • Figure 31: Top 10 U.S. promoters, by tickets sold, 2009 and 2011
                                                                                                    • Live Nation
                                                                                                      • Concerts represent 65% of total company revenue
                                                                                                        • Live Nation generates revenue via five segments
                                                                                                          • Live Nation expands, diversifies revenue streams past just concerts
                                                                                                            • Figure 32: Live Nation revenue streams, 2009 and 2011
                                                                                                          • Live Nation first quarter 2012 revenues increased 2%
                                                                                                            • Ticketmaster merger bolsters Live Nation revenue over last two years
                                                                                                              • Figure 33: Live Nation revenues, at current and inflation-adjusted prices, 2007-11
                                                                                                            • AEG Live
                                                                                                              • AEG Live holds 27% of ticket volume—heavily invested in destination festivals
                                                                                                                • AEG Live partners with LivingSocial to create premium event packages
                                                                                                                • Ticket Distribution

                                                                                                                  • Key points
                                                                                                                    • Primary, secondary ticket outlets control ticketing market
                                                                                                                      • Primary ticket market
                                                                                                                        • Top 10 primary ticket sellers
                                                                                                                          • Figure 34: Top 10 primary ticket sellers, May 2012
                                                                                                                        • Ticketmaster
                                                                                                                          • TicketsNow subsidiary criticized
                                                                                                                            • Ticketmaster pursues paperless ticketing while promoting TicketExchange
                                                                                                                              • axs
                                                                                                                                • Other primary ticket operators
                                                                                                                                  • Tickets.com
                                                                                                                                    • Eventbrite.com
                                                                                                                                      • Goldstar.com
                                                                                                                                        • ETix
                                                                                                                                          • Telecharge
                                                                                                                                            • Tix.com
                                                                                                                                              • TicketWeb
                                                                                                                                                • BrownPaperTickets
                                                                                                                                                  • Secondary ticket market
                                                                                                                                                    • Top 10 secondary ticket sellers
                                                                                                                                                      • Figure 35: Top 10 secondary ticket sellers, May 2012
                                                                                                                                                    • StubHub
                                                                                                                                                    • Innovation and Innovators

                                                                                                                                                      • Website allows fans to generate funding, create and promote tours
                                                                                                                                                        • Bonnaroo, YouTube partner to create original programming
                                                                                                                                                          • YouTube channel directs users behind the curtain of productions
                                                                                                                                                            • Jam band creates annual event specifically tailored to fan interests
                                                                                                                                                              • Classic rockers provide week-long camp “experience” with super fans
                                                                                                                                                              • Marketing Strategies

                                                                                                                                                                • Strategy: Offering a variety of discounts designed for summer purchasing
                                                                                                                                                                  • Strategy: Using Twitter sweepstakes to build buzz for summer concerts
                                                                                                                                                                    • Strategy: Encouraging viral sharing of upcoming events via Facebook apps
                                                                                                                                                                      • Strategy: Using music-streaming sites to make ticket recommendations
                                                                                                                                                                        • Strategy: Promoting sponsors via special incentives for ticket buyers
                                                                                                                                                                          • Figure 36: Leonard Cohen in concert AEG Live ad, May 2012
                                                                                                                                                                        • Strategy: Building hype of summer concert season through scroll of shows
                                                                                                                                                                          • Figure 37: Live Nation summer NY concerts ad, May 2012
                                                                                                                                                                        • Strategy: Using humor to emphasize ease of ticket buying
                                                                                                                                                                          • Figure 38: StubHub ad, the Ticket Oak, May 2012
                                                                                                                                                                        • Strategy: Emphasizing human touch behind ticket purchasing
                                                                                                                                                                            • Figure 39: TicketCity ad, talk to a human, March 2012
                                                                                                                                                                        • Types of Live Entertainment Events Visited

                                                                                                                                                                          • Key points
                                                                                                                                                                            • Free local festivals top preference for total respondents
                                                                                                                                                                              • Figure 40: Types of live entertainment events visited, by gender, April 2012
                                                                                                                                                                            • 18-24 year olds most likely to attend indoor music concerts
                                                                                                                                                                                • Figure 41: Types of live entertainment events visited, by age, April 2012
                                                                                                                                                                              • Broadway shows visited most by highest-income households
                                                                                                                                                                                • Figure 42: Types of live entertainment events visited, by household income, April 2012
                                                                                                                                                                              • Singles most likely to visit indoor music concerts
                                                                                                                                                                                • Figure 43: Types of live entertainment events visited, by marital/relationship status, April 2012
                                                                                                                                                                              • Preference for small theater events is highest among western respondents
                                                                                                                                                                                • Figure 44: Types of live entertainment events visited, by region, April 2012
                                                                                                                                                                            • Reasons for not Attending Live Events

                                                                                                                                                                              • Key points
                                                                                                                                                                                • Parking is a hassle, costs too high
                                                                                                                                                                                  • Figure 45: Reasons for not attending live events, by gender, April 2012
                                                                                                                                                                                • Oldest respondents tend to be turned off most by parking hassles and fees
                                                                                                                                                                                  • Figure 46: Reasons for not attending live events, by age, April 2012
                                                                                                                                                                                • Driving hassles most likely to affect households earning $50K+
                                                                                                                                                                                  • Figure 47: Reasons for not attending live events, by household income, April 2012
                                                                                                                                                                              • Distance Traveled To Attend Live Entertainment

                                                                                                                                                                                • Key points
                                                                                                                                                                                  • Almost half of respondents traveled less than 25 miles to attend event
                                                                                                                                                                                    • Figure 48: Distance traveled to see live entertainment in past two years, by gender, April 2012
                                                                                                                                                                                  • Those aged 18-24 most likely to travel between 26-100 miles
                                                                                                                                                                                    • Figure 49: Distance traveled to see live entertainment in past two years, by age, April 2012
                                                                                                                                                                                  • As household income increases, distance becomes less of a factor
                                                                                                                                                                                    • Figure 50: Distance traveled to see live entertainment in past two years, by household income, April 2012
                                                                                                                                                                                  • Rural respondents most likely to have traveled farthest for event
                                                                                                                                                                                    • Figure 51: distance traveled to see live entertainment in past two years, by urban area, April 2012
                                                                                                                                                                                • Ways to Research/Learn About Live Entertainment

                                                                                                                                                                                  • Key points
                                                                                                                                                                                    • Most consumers learned about/researched events from family/friends
                                                                                                                                                                                      • Figure 52: How consumers research/learn about live entertainment attended in the past year, by gender, April 2012
                                                                                                                                                                                    • More than 60% of respondents aged 18-24 used social networks
                                                                                                                                                                                      • Figure 53: How consumers research/learn about live entertainment attended in the past year, by age, April 2012
                                                                                                                                                                                    • At household income of $99.9K, social network reliance drops
                                                                                                                                                                                      • Figure 54: How consumers research/learn about live entertainment attended in the past year, by household income, April 2012
                                                                                                                                                                                    • Social media preference highest among urban respondents
                                                                                                                                                                                      • Figure 55: How consumers research/learn about live entertainment attended in the past year, by area, April 2012
                                                                                                                                                                                    • Social networking highest among music festival attendees
                                                                                                                                                                                      • Figure 56: How consumers research/learn about live entertainment attended in the past year, by types of live entertainment events visited, April 2012
                                                                                                                                                                                    • Social network preference high among opera, ballet attendees
                                                                                                                                                                                      • Figure 57: How consumers research/learn about live entertainment attended in the past year, by types of live entertainment events visited, April 2012 (continued)
                                                                                                                                                                                    • Respondents attending events for kids most likely to rely on television
                                                                                                                                                                                      • Figure 58: How consumers research/learn about live entertainment attended in the past year, by types of live entertainment events visited, April 2012 (continued)
                                                                                                                                                                                  • How Consumers Purchase Tickets

                                                                                                                                                                                    • Key points
                                                                                                                                                                                      • Online sites like Ticketmaster primary way tickets are purchased
                                                                                                                                                                                          • Figure 59: How consumers purchase tickets, by gender, April 2012
                                                                                                                                                                                        • Top preference for older respondents is purchasing with card at box office
                                                                                                                                                                                            • Figure 60: How consumers purchase tickets, by age, April 2012
                                                                                                                                                                                          • Paying cash most likely preferred by those from lowest-earning households
                                                                                                                                                                                              • Figure 61: How consumers purchase tickets, by household income, April 2012
                                                                                                                                                                                          • Preferred Way of Accessing Tickets

                                                                                                                                                                                            • Key points
                                                                                                                                                                                              • Majority of respondents say they prefer printing tickets at home
                                                                                                                                                                                                • Figure 62: Preferred way of accessing tickets, by gender, April 2012
                                                                                                                                                                                              • Respondents up to age 44 most likely to prefer printing tickets at home
                                                                                                                                                                                                • Figure 63: Preferred way of accessing tickets, by age, April 2012
                                                                                                                                                                                              • Respondents from lower-income households most likely to buy at event
                                                                                                                                                                                                • Figure 64: Preferred way of accessing tickets, by household income, April 2012
                                                                                                                                                                                              • Rural respondents most likely to purchase tickets at live event
                                                                                                                                                                                                • Figure 65: Preferred way of accessing tickets, by urban area, April 2012
                                                                                                                                                                                            • Purchases Made at Live Entertainment Events

                                                                                                                                                                                              • Key points
                                                                                                                                                                                                • Half of respondents purchased food/candy at event
                                                                                                                                                                                                  • Figure 66: Purchases made at live entertainment events, by gender, April 2012
                                                                                                                                                                                                • Younger visitors most likely to buy food, drink, clothing
                                                                                                                                                                                                  • Figure 67: Purchases made at live entertainment events, by age, April 2012
                                                                                                                                                                                                • Purchasing of CD/vinyl record highest with least and most wealthy
                                                                                                                                                                                                  • Figure 68: Purchases made at live entertainment events, by household income, April 2012
                                                                                                                                                                                                • Respondents with partners at home most likely to purchase food/candy
                                                                                                                                                                                                  • Figure 69: Purchases made at live entertainment events, by marital/relationship status, April 2012
                                                                                                                                                                                                • Secondary ticket buyers most likely to purchase clothing at events
                                                                                                                                                                                                  • Figure 70: Purchases made at live entertainment events, by ways of paying for live entertainment events, April 2012 (continued)
                                                                                                                                                                                                • Craigslist ticket buyers most likely to purchase food/candy
                                                                                                                                                                                                  • Figure 71: Purchases made at live entertainment events, by ways of paying for live entertainment events, April 2012 (continued)
                                                                                                                                                                                              • What’s it Worth Paying Extra For?

                                                                                                                                                                                                • Key points
                                                                                                                                                                                                  • Respondents most likely to pay extra for discounted parking rates
                                                                                                                                                                                                    • Figure 72: What consumers are willing to pay extra for (in addition to ticket), by gender, April 2012
                                                                                                                                                                                                  • Youngest respondents most likely to pay more for socialization perks
                                                                                                                                                                                                    • Figure 73: What consumers are willing to pay extra for (in addition to ticket), by age, April 2012
                                                                                                                                                                                                  • Least wealthy households most interested in tours
                                                                                                                                                                                                    • Figure 74: What consumers are willing to pay extra for (in addition to ticket), by household income, April 2012
                                                                                                                                                                                                  • Coupled respondents most willing to pay extra for premium seats
                                                                                                                                                                                                    • Figure 75: What consumers are willing to pay extra for (in addition to ticket), by marital/relationship status, April 2012
                                                                                                                                                                                                  • Suburban respondents most willing to pay more for extra parking
                                                                                                                                                                                                    • Figure 76: What consumers are willing to pay extra for (in addition to ticket), by urban area, April 2012
                                                                                                                                                                                                • Impact of Race and Hispanic Origin

                                                                                                                                                                                                  • Key points
                                                                                                                                                                                                    • Hispanic respondents most active in attending live entertainment events
                                                                                                                                                                                                      • Figure 77: Types of live entertainment events visited, by race/Hispanic origin, April 2012
                                                                                                                                                                                                    • Driving, parking hassles most likely to affect white respondents
                                                                                                                                                                                                      • Figure 78: Reasons for not attending live events, by race/Hispanic origin, April 2012
                                                                                                                                                                                                    • Black respondents most likely to travel shortest distance for events
                                                                                                                                                                                                      • Figure 79: Distance traveled to see live entertainment in past two years, by race/Hispanic origin, April 2012
                                                                                                                                                                                                    • Social network sites used most by black, Hispanic respondents
                                                                                                                                                                                                      • Figure 80: Ways of finding out about live entertainment attended in the past year, by race/Hispanic origin, April 2012
                                                                                                                                                                                                    • White, Hispanic respondents most likely to use credit/debit at venue
                                                                                                                                                                                                      • Figure 81: Ways of paying for live entertainment events, by race/Hispanic origin, April 2012
                                                                                                                                                                                                    • White, Hispanic respondents prefer printing at home, mailed ticket
                                                                                                                                                                                                      • Figure 82: Preferred way of accessing tickets, by race/Hispanic origin, April 2012
                                                                                                                                                                                                    • Black respondents shopping more at events than whites, Hispanics
                                                                                                                                                                                                      • Figure 83: Additional purchases while at live entertainment events, by race/Hispanic origin, April 2012
                                                                                                                                                                                                    • Black respondents most willing to pay extra for premium perks
                                                                                                                                                                                                      • Figure 84: What consumers are willing to pay extra for (in addition to ticket), by race/Hispanic origin, April 2012
                                                                                                                                                                                                  • Custom Consumer Groups

                                                                                                                                                                                                      • Asians 18-34 most likely to attend concerts
                                                                                                                                                                                                          • Figure 85: Music dance or theater performances attended in last 12 months, by race and age, October 2010-November 2011
                                                                                                                                                                                                        • Younger Hispanics more likely than older Hispanics to attend any events
                                                                                                                                                                                                          • Figure 86: Music dance or theater performances attended in last 12 months, by Hispanic origin and age, October 2010-November 2011
                                                                                                                                                                                                        • Hispanics in English-speaking homes most likely to attend concerts
                                                                                                                                                                                                            • Figure 87: Music dance or theater performances attended in last 12 months, by languages spoken in home, October 2010-November 2011
                                                                                                                                                                                                        • Appendix

                                                                                                                                                                                                          • How consumers research/learn about entertainment events by region
                                                                                                                                                                                                            • Figure 88: How consumers research/learn about live entertainment attended in the past year, by region, April 2012
                                                                                                                                                                                                          • What consumers are willing to pay extra for, by ways of paying
                                                                                                                                                                                                            • Figure 89: What consumers are willing to pay extra for (in addition to ticket), by ways of paying for live entertainment events, April 2012
                                                                                                                                                                                                            • Figure 90: What consumers are willing to pay extra for (in addition to ticket), by ways of paying for live entertainment events, April 2012 (continued)
                                                                                                                                                                                                        • Appendix—Trade Associations

                                                                                                                                                                                                          Companies Covered

                                                                                                                                                                                                          • Live Nation
                                                                                                                                                                                                          • Ticketmaster

                                                                                                                                                                                                          Live Entertainment - US - August 2012

                                                                                                                                                                                                          £3,199.84 (Excl.Tax)