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Live Entertainment - US - October 2011

This report provides an in-depth examination of the live entertainment market (excluding sports) and is geared towards industry promoters, venue operators, artist managers, live event marketers and anyone interested in pursuing opportunities within this industry. The report explores current trends and innovative ideas in the live entertainment market, and also reviews segment trends and competitive pressures.

The report provides insight into the external and internal factors affecting ticket sales, consumption, trends, and what they mean for future sales, promotional campaigns, and industry innovations. Using both industry analysis and specially-commissioned consumer research, the report explores the answers to specific questions including, but not limited to:

  • How is the market segmented by venue? Which venues are stagnating and which have grown in ticket volume?
  • What is the difference between Broadway and Touring Broadway and does each segment affect the other?
  • How does the segment, music concerts, compare to other forms of live entertainment?
  • How are ticket prices affecting ticket volume, if at all?
  • What is the effect of the 2010 merger between Live Nation and Ticketmaster and how has that affected the industry in general?
  • How has the secondary ticket market affected the primary ticket market in regards to pricing?
  • How are consumers learning about concerts and which forms of media are most effective in getting the message out?
  • Are ticket prices rising and how has it affected ticketing sales volume?
  • How many live entertainment events did consumers attend in the past year? What compelled them to attend? Why did they choose not to attend?
  • When consumers attend live entertainment events, with whom do they choose to attend? How does that affect choice?
  • How much do people choose to spend on live entertainment events?
  • How far are consumers willing to travel to attend live entertainment events? Are they willing to stay at a hotel/motel?
  • How are social media and smart phones being used in the selling and marketing of live entertainment events?

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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

                    • Live entertainment revenues increased 17% between 2006-10
                      • Music concerts dominate live entertainment revenue
                        • Music concert revenues suffer with lower attendance
                          • Broadway benefits from The Book of Mormon and Wicked
                            • Touring Broadway shows benefit from longer runs
                              • Live Nation, AEG Live control live entertainment market
                                • Live Nation grows its market share in first half of 2011
                                  • Ticketmaster merger confirms Live Nation stronghold on market
                                    • Live Nation rival AEG launches Axs Ticketing
                                      • Consumers primarily attend music concerts, outdoor festivals
                                        • VIP perks, discounts may matter less than convenience, free parking
                                          • Consumers may be spending the same on tickets, not more or less
                                            • Age 45 may represent time when consumers slow spending
                                              • Majority of respondents attend events as a couple
                                                • Family, friends crucial factors in spending decisions
                                                • Insights and Opportunities

                                                  • Ticket insurance can generate consumer peace of mind, added revenue
                                                    • Hotel partnerships can generate lifestyle experiences for VIPs
                                                      • Price freezing can reward loyalty, help ensure sales over time
                                                        • Online photo sharing helps generate interactivity on ticketing sites
                                                        • Inspire Insights

                                                            • Inspire Trend: Access All Areas
                                                              • Inspire Trend: Click and Connect
                                                                • Digital technology is changing relationship with live entertainment
                                                                • Market Size and Forecast

                                                                  • Key points
                                                                    • Live entertainment revenues to increase 6% in 2011
                                                                      • Live entertainment revenue trends and forecast
                                                                        • Figure 1: Total U.S. live entertainment revenues, at current prices, 2006-16
                                                                        • Figure 2: Total U.S. live entertainment revenues, at inflation-adjusted prices, 2006-16
                                                                      • Fan chart forecast
                                                                          • Figure 3: Fan chart forecast of U.S. live entertainment revenues, at current prices, 2006-16
                                                                      • Market Drivers

                                                                        • Live Nation leading promoters to invest in mobile ticketing apps
                                                                          • Increase in smartphone sales to help drive up mobile ticketing
                                                                              • Figure 4: U.S. supplier sales of smartphones, 2004-10
                                                                              • Figure 5: U.S. unit sales and average unit price of smartphones, 2004-10
                                                                            • Consumer debt continues to decline, possibly helping future spending
                                                                              • Consumers still struggling to increase disposable personal income
                                                                                • Paperless ticketing generating controversy among consumers
                                                                                  • Growth of entertainment tour sponsorships
                                                                                    • Growth of music venue, festival, tour sponsorships
                                                                                        • Figure 6: Music sponsorship spending on entertainment venues and tours, 2006-11
                                                                                      • Heritage artists, not current hitmakers, dominate tour sales
                                                                                        • Figure 7: Top-grossing world tours, 1997-2010
                                                                                    • Segment Performance—Overview

                                                                                      • Key points
                                                                                        • Music concerts dominate live entertainment revenue
                                                                                          • Figure 8: Total U.S. live entertainment revenues, by segment, 2008 and 2010
                                                                                        • Revenues for live entertainment increased nearly 18% from 2006-10
                                                                                          • Figure 9: Total U.S. live entertainment revenues, by segment, 2006-16
                                                                                      • Segment Performance—Music Concerts

                                                                                        • Key points
                                                                                          • 2010 revenues drop nearly 8%, the first decline after years of increases
                                                                                              • Figure 10: Total U.S. concert industry ticket sale revenues, at current prices, 2006-16
                                                                                              • Figure 11: Average ticket price for the top 100 tours, 1997-2010
                                                                                            • Ticket volume decreased nearly 12% in 2010
                                                                                              • Figure 12: Total tickets sold for the top 100 tours, 2003-10
                                                                                          • Segment Performance—Broadway Theater

                                                                                            • Key points
                                                                                              • Broadway show revenues increase 6% in 2010-11 season
                                                                                                • Broadway ticketholders tend to be repeat customers outside New York
                                                                                                    • Figure 13: Gross ticket receipts for Broadway shows, 2006-16
                                                                                                  • Broadway paid attendance surges 5.4% during 2010-11 season
                                                                                                    • Figure 14: Broadway show paid attendance and playing weeks, 2006-11
                                                                                                  • Average ticket price jumps nearly 12% during 2009-10 season
                                                                                                    • Figure 15: Average paid admission on Broadway, 2005-06 season-2009-10 season
                                                                                                • Segment Performance—Touring Broadway Theater

                                                                                                  • Key points
                                                                                                    • Touring Broadway show revenues increase 7.5% in 2010
                                                                                                        • Figure 16: Gross ticket receipts for touring Broadway shows, 2006-16
                                                                                                      • Touring Broadway attendance increases 11% in 2010
                                                                                                        • Figure 17: Touring Broadway show paid attendance and playing weeks, 2006-10
                                                                                                    • Supply Structure—Concert Promoters

                                                                                                      • Key points
                                                                                                        • Live Nation controls half of the tickets sold in 2010
                                                                                                            • Figure 18: Top 10 U.S. promoters, by tickets sold, 2009 and 2010
                                                                                                          • Live Nation dominates ticketing, live entertainment market
                                                                                                            • Live Nation grows its market share in first half of 2011
                                                                                                              • Ticketmaster merger gives Live Nation tighter control of artist revenue
                                                                                                                • Live Nation revenues jump 21% due to Ticketmaster acquisition
                                                                                                                  • Walmart, Groupon partnerships help boost ticket volume in 2011
                                                                                                                    • Live Nation revenues
                                                                                                                      • Figure 19: Live Nation revenues, at current and inflation-adjusted prices, 2006-10
                                                                                                                      • Figure 20: Live Nation revenue streams, 2009-10
                                                                                                                  • Ticket Distribution

                                                                                                                    • Key points
                                                                                                                      • Primary, secondary ticket outlets control ticketing market
                                                                                                                        • Ticketmaster dominates ticket sales
                                                                                                                          • Ticketmaster under fire for sending consumers to its secondary resale site
                                                                                                                            • Promoter AEG launches Axs Ticketing to rival Ticketmaster
                                                                                                                              • Ticketmaster competition consists of small regional players
                                                                                                                                • Tickets.com
                                                                                                                                  • Eventbrite.com
                                                                                                                                    • Goldstar.com
                                                                                                                                      • Telecharge
                                                                                                                                        • Etix
                                                                                                                                          • Tix.com
                                                                                                                                            • TicketWeb
                                                                                                                                              • Brown Paper Tickets
                                                                                                                                                • Figure 21: Top 10 primary ticket sellers, July 2011
                                                                                                                                              • Secondary ticket market
                                                                                                                                                • StubHub gross ticket sales increased 20% in 2010
                                                                                                                                                  • Figure 22: Top 10 secondary ticket sellers, July 2011
                                                                                                                                              • Innovations and Innovators

                                                                                                                                                • Earlier start times, added matinees help Broadway in sluggish summer
                                                                                                                                                  • Ticketmaster uses Facebook to allow buyers to tag seating choices
                                                                                                                                                    • Ticketometer creates events by user demand
                                                                                                                                                      • Time Out to offer discounted tickets to shows
                                                                                                                                                        • Promoter generates additional revenue by streaming festival online
                                                                                                                                                        • Marketing Strategies

                                                                                                                                                          • Event operators turning to social networks to engage ticket buyers
                                                                                                                                                            • Strategy: Using social networks for multiplatform marketing
                                                                                                                                                              • Strategy: Using social networks to engage with buyers even after event
                                                                                                                                                                • Strategy: Using text messaging to drive last-minute sales, awareness
                                                                                                                                                                  • Live Nation partners with Groupon to raise awareness about events
                                                                                                                                                                    • Ad spending on Facebook forecast to increase 104% in 2011
                                                                                                                                                                      • Figure 23: Facebook ad revenues worldwide, 2009-13
                                                                                                                                                                      • Figure 24: Facebook ad revenues worldwide, U.S. and non-U.S., 2009-13
                                                                                                                                                                  • Live Entertainment Participation

                                                                                                                                                                    • Key points
                                                                                                                                                                      • Music concerts, outdoor events rated highest by respondents
                                                                                                                                                                        • Figure 25: Live entertainment participation, by gender, July 2011
                                                                                                                                                                      • Youngest consumers attend more events, also have widest tastes
                                                                                                                                                                        • Figure 26: Live entertainment participation, by age, July 2011
                                                                                                                                                                      • Household income of $50K+ determinant in higher event participation
                                                                                                                                                                        • Figure 27: Live entertainment participation, by household income, July 2011
                                                                                                                                                                    • Factors Impacting Live Entertainment Participation

                                                                                                                                                                      • Key points
                                                                                                                                                                        • Convenience, free parking top factors influencing purchase
                                                                                                                                                                          • Figure 28: Factors impacting live entertainment participation, by gender, July 2011
                                                                                                                                                                        • Youngest respondents rated discounts highest
                                                                                                                                                                          • Figure 29: Factors impacting live entertainment participation, by age, July 2011
                                                                                                                                                                        • Discounts appeal to respondents from most household income levels
                                                                                                                                                                          • Figure 30: Factors impacting live entertainment participation, by household income, July 2011
                                                                                                                                                                      • Live Entertainment and Overnight Stays

                                                                                                                                                                        • Key points
                                                                                                                                                                          • Respondents not likely to stay overnight in hotel/motel for event
                                                                                                                                                                            • Figure 31: Live entertainment and overnight stays, by gender, July 2011
                                                                                                                                                                          • Youngest respondents more likely to stay overnight to attend an event
                                                                                                                                                                            • Figure 32: Live entertainment and overnight stays, by age, July 2011
                                                                                                                                                                          • Respondents from households earning $50K+ most likely to stay overnight
                                                                                                                                                                            • Figure 33: Live entertainment and overnight stays, by household income, July 2011
                                                                                                                                                                        • Live Entertainment and Miles Traveled

                                                                                                                                                                          • Key points
                                                                                                                                                                            • More than one third of respondents have traveled more than 100 miles for an event
                                                                                                                                                                              • Figure 34: Live entertainment and miles traveled, by gender, July 2011
                                                                                                                                                                            • Older respondents more likely to travel more than 100 miles for event
                                                                                                                                                                              • Figure 35: Live entertainment and miles traveled, by age, July 2011
                                                                                                                                                                            • Respondents from lowest-income households more likely to travel furthest
                                                                                                                                                                              • Figure 36: Live entertainment and miles traveled, by household income, July 2011
                                                                                                                                                                          • Change in Spending on Live Entertainment

                                                                                                                                                                            • Key points
                                                                                                                                                                              • Majority of respondents plan to spend the same as last year
                                                                                                                                                                                • Figure 37: Expected change in spending on live entertainment, by gender, July 2011
                                                                                                                                                                              • Younger respondents plan to spend more, older respondents, the same
                                                                                                                                                                                • Figure 38: Expected change in spending on live entertainment, by age, July 2011
                                                                                                                                                                              • Respondents from households earning $75K+ plan to spend about same
                                                                                                                                                                                • Figure 39: Expected change in spending on live entertainment, by household income, July 2011
                                                                                                                                                                            • Who Consumers Go to Live Entertainment With

                                                                                                                                                                              • Key points
                                                                                                                                                                                • Majority of respondents attend events as a couple
                                                                                                                                                                                    • Figure 40: Whom consumers attend live entertainment events with, July 2011
                                                                                                                                                                                  • Outdoor festivals, family events most popular attending with kids
                                                                                                                                                                                      • Figure 41: Whom consumers attend live entertainment events with, by kids any age, July 2011
                                                                                                                                                                                  • Live Entertainment Combined with Other Activities

                                                                                                                                                                                    • Key points
                                                                                                                                                                                      • Respondents going to theater most likely to add dinner into mix
                                                                                                                                                                                        • Figure 42: Live entertainment combined with other activities, July 2011
                                                                                                                                                                                    • Live Entertainment Ticket Buying Behavior

                                                                                                                                                                                      • Key points
                                                                                                                                                                                        • Most respondents depend on social circle for live entertainment choices
                                                                                                                                                                                          • Figure 43: Live entertainment ticket buying behavior, by gender, July 2011
                                                                                                                                                                                        • Social networks rated highest by youngest respondents
                                                                                                                                                                                          • Figure 44: Live entertainment ticket buying behavior, by age, July 2011
                                                                                                                                                                                        • Social networks appeal to middle-income households
                                                                                                                                                                                          • Figure 45: Live entertainment ticket buying behavior, by household income, July 2011
                                                                                                                                                                                      • Impact of Race and Hispanic Origin

                                                                                                                                                                                        • Key points
                                                                                                                                                                                          • Concerts, outdoor festivals rated highest by white, Hispanic respondents
                                                                                                                                                                                              • Figure 46: Live entertainment participation, by race and Hispanic origin, July 2011
                                                                                                                                                                                            • Hispanic, Asian respondents most interested in ticket discounts, deals
                                                                                                                                                                                              • Figure 47: Factors impacting live entertainment participation, by race and Hispanic origin, July 2011
                                                                                                                                                                                            • White respondents most likely to attend events that require overnight stays
                                                                                                                                                                                              • Figure 48: Live entertainment and race and Hispanic origin, by age, July 2011
                                                                                                                                                                                            • Black, Asian respondents display a higher likelihood of spending more
                                                                                                                                                                                              • Figure 50: Expected change in spending on live entertainment, by race and Hispanic origin, July 2011
                                                                                                                                                                                            • Asian respondents most interested in mobile ticketing
                                                                                                                                                                                              • Figure 51: Live entertainment ticket buying behavior, by race and Hispanic origin, July 2011
                                                                                                                                                                                          • Cluster Analysis

                                                                                                                                                                                              • Constant Sophisticates Demographics
                                                                                                                                                                                                • Characteristics
                                                                                                                                                                                                  • Opportunity
                                                                                                                                                                                                    • Pennywise Urbanites
                                                                                                                                                                                                      • Demographics
                                                                                                                                                                                                        • Characteristics
                                                                                                                                                                                                          • Opportunity
                                                                                                                                                                                                            • Road Tripping Eventists
                                                                                                                                                                                                              • Demographics
                                                                                                                                                                                                                • Characteristics
                                                                                                                                                                                                                  • Opportunity
                                                                                                                                                                                                                    • Cluster characteristic tables
                                                                                                                                                                                                                      • Figure 52: Live event clusters, July 2011
                                                                                                                                                                                                                      • Figure 53: Stayed overnight in hotel/motel when traveling for live entertainment, by live event clusters, July 2011
                                                                                                                                                                                                                      • Figure 54: Distance traveled for live entertainment by live event clusters, July 2011
                                                                                                                                                                                                                      • Figure 55: Changes in spending on live entertainment in past year, by live event clusters, July 2011
                                                                                                                                                                                                                      • Figure 56: Combining live entertainment with other activities, by live event clusters, July 2011
                                                                                                                                                                                                                      • Figure 57: Factors impacting decision to go to live entertainment, by live event clusters, July 2011
                                                                                                                                                                                                                      • Figure 58: Ways of gathering info about and buying tickets for live entertainment, by live event clusters, July 2011
                                                                                                                                                                                                                    • Cluster demographic tables
                                                                                                                                                                                                                      • Figure 59: Live event clusters, by gender, July 2011
                                                                                                                                                                                                                      • Figure 60: Live event clusters, by age, July 2011
                                                                                                                                                                                                                      • Figure 61: Live event clusters, by household income, July 2011
                                                                                                                                                                                                                      • Figure 62: Live event clusters, by race, July 2011
                                                                                                                                                                                                                      • Figure 63: Live event clusters, by Hispanic origin, July 2011
                                                                                                                                                                                                                    • Cluster methodology
                                                                                                                                                                                                                    • Appendix: Trade Associations

                                                                                                                                                                                                                      Companies Covered

                                                                                                                                                                                                                      • AT&T Inc.
                                                                                                                                                                                                                      • Consumer Electronics Association
                                                                                                                                                                                                                      • Federal Trade Commission
                                                                                                                                                                                                                      • Groupon, Inc.
                                                                                                                                                                                                                      • International Speedway Corporation
                                                                                                                                                                                                                      • Live Nation
                                                                                                                                                                                                                      • Major League Baseball
                                                                                                                                                                                                                      • National Basketball Association
                                                                                                                                                                                                                      • Starwood Hotels & Resorts Worldwide, Inc.
                                                                                                                                                                                                                      • Ticketmaster
                                                                                                                                                                                                                      • U.S. Bureau of Labor Statistics
                                                                                                                                                                                                                      • Walmart Stores (USA)

                                                                                                                                                                                                                      Live Entertainment - US - October 2011

                                                                                                                                                                                                                      £2,684.63 (Excl.Tax)