Music Concerts and Festivals - UK - August 2016
"The UK music concerts and festivals industry has continued to grow steadily each year but there is a need for players in the industry to work together to halt the decline of grassroots music venues, otherwise there is a risk that the supply of new and emerging artists, who go on to become the established acts and festival headliners of tomorrow, is going to start drying up.”
– Michael Oliver, Senior Leisure and Media Analyst
This report will cover the following areas:
- What are the main opportunities for festivals to increase their revenues?
- The music industry needs to help to retain grassroots music venues
Live Nation continues to be the dominant operator, with a turnover larger than its seven largest competitors combined. It is hard to see this strong market position coming under threat in the near future, as other rivals have struggled to match the company’s size and scale while at the same time remaining profitable.
Concert and festival-goers have indicated that there are still value-added products and services they would be prepared to pay an extra fee for, demonstrating that there is still further potential to increase average spend per head. However, it continues to be a challenge encouraging them to go to events more often – they are most likely to attend just one concert a year. Products such as membership schemes and apps which highlight events, have the facility to buy tickets and can be used for in-venue commerce are areas which operators will need to look to, in order to try to stimulate greater frequency of visiting.
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