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Music Concerts and Festivals - UK - August 2012

“While the growth of social media has allowed more and more people to have their say about live music, there still remains a disconnect between the promoters and fans and putting on live music continues to be a very entrepreneurial activity where instinct, experience and gut feeling guides promoters in deciding what acts to put on and where.”

– Michael Oliver – Senior Leisure & Media Analyst

Some questions answered in this report include:

  • How can technology be used to maximise yield?
  • How can venues seek to maximise secondary spend?
  • How can promoters maximise other revenue from live performances?
  • How can live music compete effectively with live comedy and sport?
  • How can promoter/fan engagement be improved?

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Table of contents

  1. Introduction

      • Definition
        • Abbreviations
        • Executive Summary

            • Market fluctuates year to year with big acts but underlying trend is up
              • Figure 1: UK music concerts and festivals market, 2007-17
            • Market factors
              • Figure 2: Trends in ever visiting* music concerts, by type, 2010 and 2011
            • Companies, brands and innovation
              • Figure 3: Leading live music promoters and venue operators, by turnover, June 2012
            • The consumer
              • Figure 4: Number of music concerts attended in past 12 months, June 2012
              • Figure 5: Number of music festivals attended in past 12 months, June 2012
              • Figure 6: Types of music concerts attended in past 12 months, June 2012
              • Figure 7: Consumer attitudes and behaviour relating to music concerts and festivals, June 2012
              • Figure 8: Attitudes towards potential improvements and innovations to music concerts and festivals, June 2012
            • What we think
            • Issues in the Market

                • How can technology be used to maximise yield?
                  • How can venues seek to maximise secondary spend?
                    • How can promoters maximise other revenue from live performances?
                      • How can live music compete effectively with live comedy and sport?
                        • How can promoter/fan engagement be improved?
                        • Trend Application

                          • Trend: Influentials
                            • Trend: Collective Intelligence
                              • 2015 Inspire Prediction: Access, Anything, Anywhere
                              • Internal Market Environment

                                • Key points
                                  • Classical and jazz lose out but other genres thrive
                                    • Figure 9: Trends in ever visiting music concerts, by type, 2007-11
                                    • Figure 10: Percentage of all adults who have been to concerts in past year, 2010 and 2011
                                    • Figure 11: Number of music concert performances at NAA venues, by genre, 2007-11
                                    • Figure 12: Average ticket prices for music concerts at NAA venues, by genre, 2008-11
                                  • No change after PRS for Music tariff consultation
                                    • Industry wins licensing concessions
                                      • Tightening the purse strings
                                        • Figure 13: Major Arts Council-funded classical projects, 2012/13-2014/15
                                        • Figure 14: Major Arts Council-funded jazz projects, 2012/13-2014/15
                                      • Ticketing sector under pressure after Dispatches exposure
                                      • Broader Market Environment

                                        • Key points
                                          • Economy slips back into recession
                                            • Figure 15: Quarterly trends in UK GDP, Q1 2007-Q3 2012
                                          • Consumer confidence remains weak
                                            • Figure 16: Trends in UK consumer confidence, January 2008-July 2012
                                          • Job worries continue
                                            • Figure 17: Trends in unemployment rate, Q2 2007-Q1 2012
                                            • Figure 18: Unemployment rate*, by age band, Q1 2012
                                          • The role of technology grows
                                            • Figure 19: Penetration of digital and mobile communications, April 2012
                                          • Exchange rate fluctuations cause problems for promoters
                                            • Figure 20: Sterling exchange rates, 2007-12
                                          • The Olympic impact
                                          • Competitive Context

                                            • Key points
                                              • Live music one of the larger leisure markets
                                                • Figure 21: Value of the UK leisure* industry, by segment, 2007-11
                                              • A third say they cut back on live music in 2011
                                                • Figure 22: Leisure spending trends in past 12 months, by sector, October 2011
                                              • Further belt tightening in prospect for 2012
                                                • Figure 23: Leisure spending intentions for the next 12 months, October 2011
                                              • Live continues to outstrip recorded music revenues
                                                • Figure 24: Live versus recorded music revenue trends, 2007-11
                                              • US market bounces back after difficult 2010
                                                • Figure 25: Performance of US live music market in first six months of year, 2007-11
                                            • Who’s Innovating?

                                              • Key points
                                                • Electronic wristbands speed up payment and reduce queues
                                                  • Taking classical into the festival arena
                                                    • Songkick pushes on with efforts to counter ‘If only I’d known’
                                                      • Efforts continue to improve phone charging at festivals
                                                        • Extending the live audience beyond the physical
                                                        • Market Size and Forecast

                                                          • Key points
                                                            • Five years of tremendous growth in revenues
                                                              • Figure 26: UK music concerts and festivals market size trends, 2007-17
                                                            • Take That factor boosts revenues
                                                              • A post-Olympics bounce-back?
                                                                • Forecast
                                                                  • Figure 27: Forecast UK music concerts and festivals market value, 2007-17
                                                              • Segment Performance

                                                                • Key points
                                                                  • Tickets provide most of industry revenues but secondary spend growing
                                                                    • Figure 28: UK music concerts and festivals market, by segment, 2007-11
                                                                  • Concerts
                                                                    • Festivals
                                                                      • Figure 29: Major UK music festivals, 2012
                                                                  • Market Share

                                                                    • Key points
                                                                      • Live Nation dominates the industry
                                                                        • Figure 30: Leading music concert and festival operators ranked by turnover, 2011
                                                                    • Companies and Products

                                                                      • Key points
                                                                        • Live Nation/Ticketmaster
                                                                          • Background
                                                                            • Financial performance
                                                                              • Figure 31: Live Nation Entertainment Inc, key financials, 2007-11
                                                                              • Figure 32: Live Nation (Music) UK Ltd, key financials 2007-11
                                                                            • LN-Gaiety venture is a major player too
                                                                              • Figure 33: LN-Gaiety Holdings Ltd, key financials, 2007-11
                                                                            • Recent activity
                                                                              • Ticketmaster gives Live Nation a strong position in ticketing
                                                                                • Figure 34: Ticketmaster UK, key financials, 2006-10
                                                                              • SJM Concerts and Metropolis Music
                                                                                • Background
                                                                                  • Financial performance
                                                                                    • Figure 35: SJM Ltd, key financials, 2006-10
                                                                                    • Figure 36: Metropolis Music (Scriptograph Ltd), key financials, 2007-11
                                                                                  • Recent activity
                                                                                    • Anschutz Entertainment Group (AEG)
                                                                                      • Background
                                                                                        • Financial performance
                                                                                          • Figure 37: AEG Live (UK) Ltd, key financials, 2006-10
                                                                                        • Recent activity
                                                                                          • Academy Music Group
                                                                                            • Background
                                                                                              • Financial performance
                                                                                                • Figure 38: Academy Music Holdings Ltd, key financials, 2007-11
                                                                                              • Venues
                                                                                                • Figure 39: Venues owned and operated by Academy Music Group, 2012
                                                                                              • Recent activity
                                                                                                • MAMA Group
                                                                                                  • Background
                                                                                                    • Financial performance
                                                                                                      • Figure 40: MAMA Group Ltd, turnovers of key subsidiaries, 2010 and 2011
                                                                                                    • Recent activity
                                                                                                      • Festival Republic
                                                                                                        • Background
                                                                                                          • Financial performance
                                                                                                            • Figure 41: Festival Republic Ltd, key financials, 2007-11
                                                                                                          • Recent activity
                                                                                                            • Raymond Gubbay
                                                                                                              • Background
                                                                                                                • Financial performance
                                                                                                                  • Figure 42: Raymond Gubbay Ltd, key financials, 2007-11
                                                                                                                • Recent activity
                                                                                                                  • Marshall Arts
                                                                                                                    • Background
                                                                                                                      • Financial performance
                                                                                                                        • Figure 43: Marshall Arts Ltd, key financials, 2006-10
                                                                                                                    • Brand Communication and Promotion

                                                                                                                      • Key points
                                                                                                                        • Live Nation commands the promotional space
                                                                                                                          • Figure 44: Leading promoters’ main media advertising spend, 2011
                                                                                                                        • Nostalgia and reunions rule the roost in 2011
                                                                                                                          • Figure 45: Main media advertising spend on leading artists, 2011
                                                                                                                        • Sponsorship continues to grow but funds becoming harder to procure?
                                                                                                                          • BlackBerry backs TOWIE-style reality TV series
                                                                                                                            • Digital role grows for live music promoters
                                                                                                                              • Figure 46: Total unique monthly visitors to music concerts and festivals websites, January 2009-October 2012
                                                                                                                          • Music Concert Attendance

                                                                                                                            • Key points
                                                                                                                              • Nearly a third of adults paid to go to a live music concert in the past year
                                                                                                                                • Figure 47: Number of music concerts attended in past 12 months, June 2012
                                                                                                                              • Strong correlation between concert- and festival-going
                                                                                                                                • Figure 48: Number of music concerts attended in past 12 months, by number of music festivals attended in past 12 months, July 2012
                                                                                                                            • Music Festival Attendance

                                                                                                                              • Key points
                                                                                                                                • Figure 49: Number of music festivals attended in past 12 months, June 2012
                                                                                                                              • Less correlation between concerts and festivals than vice versa
                                                                                                                                • Figure 50: Number of music festivals attended in past 12 months, by number of music concerts attended in past 12 months, July 2012
                                                                                                                            • Types of Music Concert Visited

                                                                                                                              • Key points
                                                                                                                                • Rock, pop and classical most popular genres
                                                                                                                                  • Figure 51: Types of music concerts attended in past 12 months, June 2012
                                                                                                                                • Relatively little correlation between the genres
                                                                                                                                  • Figure 52: Types of music concerts attended in past 12 months, by type of music concerts attended in past 12 months, July 2012
                                                                                                                              • Consumer Attitudes and Behaviour

                                                                                                                                • Key points
                                                                                                                                  • Scarcity has its price
                                                                                                                                    • Figure 53: Consumer attitudes and behaviour relating to music concerts and festivals, June 2012
                                                                                                                                  • Festivals sector to dip slightly in 2012?
                                                                                                                                    • Frequent concert-goers more likely to also attend live sport and live comedy events
                                                                                                                                      • Figure 54: Consumer attitudes and behaviour relating to music concerts and festivals, by number of music concerts attended in past 12 months, July 2012
                                                                                                                                    • Around half of 2011 festival-goers going again in 2012
                                                                                                                                      • Figure 55: Consumer attitudes and behaviour relating to music concerts and festivals, by number of music festivals attended in past 12 months, July 2012
                                                                                                                                      • Figure 56: Consumer attitudes and behaviour relating to music concerts and festivals, by music concerts attended in past 12 months, July 2012
                                                                                                                                  • Attitudes towards Potential Improvements and Innovations

                                                                                                                                    • Key points
                                                                                                                                      • Initiatives to speed up in-venue service most popular
                                                                                                                                        • Figure 57: Attitudes towards potential improvements and innovations to music concerts and festivals, June 2012
                                                                                                                                      • Location-based technology opportunity?
                                                                                                                                        • Fans open to idea of season ticket
                                                                                                                                          • Free Wi-Fi could increase fan engagement
                                                                                                                                            • Social media can allow fans to become more involved
                                                                                                                                              • Wristbands and mobile drinks vendors popular with regular concert-goers
                                                                                                                                                • Figure 58: Attitudes towards potential improvements and innovations to music concerts and festivals, by number of music concerts attended in past 12 months, July 2012
                                                                                                                                              • Festival-goers more enthusiastic about prepaid wristbands
                                                                                                                                                • Figure 59: Attitudes towards potential improvements and innovations to music concerts and festivals, by number of music festivals attended in past 12 months, July 2012
                                                                                                                                              • Rock fans keenest on convenience
                                                                                                                                                • Figure 60: Attitudes towards potential improvements and innovations to music concerts and festivals, by number of music concerts attended in past 12 months, July 2012
                                                                                                                                            • Appendix – Market Size Forecast Scenarios

                                                                                                                                                • Figure 61: UK music concerts and festivals market size forecast scenarios, 2012-17
                                                                                                                                            • Appendix – Music Concert Attendance

                                                                                                                                                • Figure 62: Number of music concerts attended in past 12 months, by demographics, June 2012
                                                                                                                                            • Appendix – Music Festival Attendance

                                                                                                                                                • Figure 63: Number of music festivals attended in past 12 months, by demographics, June 2012
                                                                                                                                            • Appendix – Types of Music Concert Visited

                                                                                                                                                • Figure 64: Number of music concerts attended in past 12 months, by type, by demographics, June 2012
                                                                                                                                            • Appendix – Consumer Attitudes and Behaviour

                                                                                                                                                • Figure 65: Consumer attitudes and behaviour relating to music concerts and festivals, by demographics, June 2012
                                                                                                                                                • Figure 66: Consumer attitudes and behaviour relating to music concerts and festivals, by most popular consumer attitudes and behaviour relating to music concerts and festivals, July 2012
                                                                                                                                                • Figure 67: Consumer attitudes and behaviour relating to music concerts and festivals, by next most popular consumer attitudes and behaviour relating to music concerts and festivals, July 2012
                                                                                                                                            • Appendix – Attitudes towards Potential Improvements and Innovations

                                                                                                                                                • Figure 68: Attitudes towards potential improvements and innovations to music concerts and festivals, by demographics, June 2012
                                                                                                                                                • Figure 69: Attitudes towards potential improvements and innovations to music concerts and festivals, by most popular attitudes towards potential improvements and innovations to music concerts and festivals, July 2012
                                                                                                                                                • Figure 70: Attitudes towards potential improvements and innovations to music concerts and festivals, by next most popular attitudes towards potential improvements and innovations to music concerts and festivals, July 2012
                                                                                                                                                • Figure 71: Attitudes towards potential improvements and innovations to music concerts and festivals, by most popular consumer attitudes and behaviour relating to music concerts and festivals, July 2012
                                                                                                                                                • Figure 72: Attitudes towards potential improvements and innovations to music concerts and festivals, by next most popular consumer attitudes and behaviour relating to music concerts and festivals, July 2012

                                                                                                                                            Companies Covered

                                                                                                                                            • Academy Music Group Ltd
                                                                                                                                            • Anshutz Entertainment Group
                                                                                                                                            • Barfly
                                                                                                                                            • Bloomberg L.P.
                                                                                                                                            • DF Concerts
                                                                                                                                            • Festival Republic
                                                                                                                                            • Glastonbury Festivals Ltd
                                                                                                                                            • Hammersmith Apollo
                                                                                                                                            • HMV Retail Ltd
                                                                                                                                            • Liberty Media Corporation
                                                                                                                                            • Live Nation
                                                                                                                                            • Mama Group Plc
                                                                                                                                            • Mean Fiddler Music Group plc
                                                                                                                                            • Mercedes-Benz UK
                                                                                                                                            • Metropolis Music
                                                                                                                                            • Qatar Airways
                                                                                                                                            • Raymond Gubbay Ltd
                                                                                                                                            • Royal Albert Hall
                                                                                                                                            • SJM Concerts
                                                                                                                                            • The Apollo Victoria Theatre
                                                                                                                                            • Ticketmaster
                                                                                                                                            • Wembley National Stadium
                                                                                                                                            • West Ham United Football Club
                                                                                                                                            • YouTube, Inc.

                                                                                                                                            Music Concerts and Festivals - UK - August 2012

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