2023
9
UK Music Concerts and Festivals Market Report 2023
2023-06-27T04:03:18+01:00
OX1158453
2195
164429
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Report
en_GB
“As the post-pandemic bounce-back continues, music fans are more hyper-engaged than ever with major events via expanding streaming services and social media. However, pressure on smaller-scale grassroots concerts and independent…

UK Music Concerts and Festivals Market Report 2023

£ 2,195 (Excl.Tax)

Description

“As the post-pandemic bounce-back continues, music fans are more hyper-engaged than ever with major events via expanding streaming services and social media. However, pressure on smaller-scale grassroots concerts and independent festivals is likely to continue, intensified by greater prioritisation among many who are feeling the cost-of-living pinch.”
– John Worthington, Senior Analyst

This Report looks at the following areas:

  • Consumer experience of music concerts and festivals and future intentions.
  • The impact of the cost-of-living crisis on music concerts and festivals.
  • The future evolution of the live music experience.
  • Consumer preferences and opportunities for premiumisation and adding value.

Table of Contents

  1. Overview

    • Key issues covered in this Report
    • Products covered in this Report
  2. Executive Summary

    • The five-year outlook for music concerts and festivals
      • Figure 1: Category outlook, 2023-28
    • The market
    • Higher ticket prices are helping to grow the value of the market beyond pre-pandemic levels
      • Figure 2: Market forecast for value of music concerts and festivals, 2018-28
    • Companies and brands
    • Live Nation/Gaiety is the market leader
      • Figure 3: Leading companies in the UK music concerts and festivals market, latest reported turnover, 2021
    • Glastonbury 2023 sells out in an hour for the second consecutive year
    • Lifestyle festivals
    • ABBA Arena was the biggest ad spender in 2022
    • The consumer
    • Consumer concert penetration returned to pre-COVID levels in 2022…
      • Figure 4: Experience of in-person music concerts in the past 12 months, 2022 and 2023
    • …and festival penetration is broadly comparable with pre-COVID levels
      • Figure 5: Experience of in-person music festivals in the past 12 months, 2023
    • Livestreaming has been unaffected by the return of in-person events
      • Figure 6: Experience of livestreamed music events in the past 12 months, 2022 and 2023
    • Consumers have grown more cautious in 2023 due to cost of living
      • Figure 7: Experience of music events in the past 12 months versus intentions in the next 12 months, 2023
    • Event-goers are likely to pick and choose more carefully
      • Figure 8: Impact of the cost-of-living crisis on attending live music events, 2023
    • Ticketing hassles and safety fears need to be addressed
      • Figure 9: Attitudes towards buying tickets and personal safety at live music events, 2023
    • Apps can facilitate a more personalised event experience
      • Figure 10: Interest in the use of apps for live music concerts/festivals, 2023
    • Broader brush approach is popular
      • Figure 11: Interest in other activities at music festivals, 2023
    • Cost-cutters and VIP viewers
    • Getting exclusive
      • Figure 12: Interest in payment/premium options at live music events, 2023
  3. Issues and Insights

    • Keeping it real
    • On stream
    • Celebrating the local
    • Golden oldies
  4. Market Size and Performance

    • Pent-up demand for live music unleashed from Q2 2022 onwards
    • Major sell-out events returned…
    • …but the grassroots sector continued to struggle
    • Overall attendance numbers still down but rising ticket prices took market value above pre-COVID levels
      • Figure 13: Market size for value of music concerts and festivals, 2018-22
  5. Market Forecast

    • The five-year outlook for music concerts and festivals
      • Figure 14: Category outlook, 2023-28
    • Hyper-engaged fans ensure continued demand for must-see events
    • Ticket inflation will have mixed impacts
    • Gig- and festival-goers are likely to pick and choose more
    • Higher prices are expected to drive value growth despite a likely drop in attendances
    • Livestreaming is a growing new revenue source
      • Figure 15: Market forecast for value of music concerts and festivals, 2018-28
    • Forecast methodology
  6. Market Drivers

    • Post-pandemic bounce-back in live events cooled by cost-of-living impact
      • Figure 16: Live events – Recent attendance and intention to attend, 2019-23
      • Figure 17: Live events – recent attendance and intention to attend, annual change, 2019-23
    • Economic outlook slowly improving but inflation remains stubbornly high
      • Figure 18: Household financial wellbeing index, 2016-23
    • COVID and cost of living have polarised consumer spending power
    • Swifties take on Ticketmaster
    • Greening the festival market
  7. Key Players

    • Live Nation
    • Festival Republic
    • S.J.M. Concerts
    • AEG Presents
    • DEAG
    • DHP Family
    • Glastonbury Festival
    • Raymond Gubbay Ltd
      • Figure 19: Leading companies in the UK music concerts and festivals market, past 4 years’/latest turnover, 2018-21
  8. Launch Activity and Innovation

    • Technology offers new possibilities for the live music experience
    • New platforms can generate revenue for the grassroots music scene
    • Greener events for tackling the climate blues
    • Lifestyle festivals
  9. Advertising and Marketing Activity

    • Adspend remained well below pre-COVID levels in 2022
      • Figure 20: Total above-the-line, online display and direct mail advertising expenditure on music concerts, 2019-22
    • ABBA Arena has become the leading spender
      • Figure 21: Total above-the-line, online display and direct mail advertising expenditure on music concerts, by top 10 advertisers in 2022, 2019-22
    • Nielsen Ad Intel coverage
  10. Music Concert Participation

    • Concert attendance returns to pre-COVID levels
      • Figure 22: Experience of in-person music concerts in the past 12 months, 2022 and 2023
    • The majority of concert-goers attend one or two events a year
      • Figure 23: Number of in-person music concerts attended in the past 12 months, 2023
    • Concert-going has a youth bias but over half of attendees are over-35s
      • Figure 24: Demographic profile of music concert-goers, 2023
  11. Music Festival Participation

    • Festival attendance is comparable with pre-pandemic levels
      • Figure 25: Experience of in-person music festivals in the past 12 months, 2023
      • Figure 26: Number of in-person music festivals attended in the past 12 months, 2023
    • Festival attendance has a clearer male bias than concerts
    • Older music lovers are under-represented at festivals
      • Figure 27: Demographic profile of music festival-goers, 2023
  12. Livestreamed Events

    • Livestreaming has been unaffected by the reopening of in-person events
      • Figure 28: Experience of livestreamed music events in the past 12 months, 2022 and 2023
      • Figure 29: Experience of free versus paid livestreamed music events in the past 12 months, 2022 and 2023
    • Pay-to-watch livestreaming has a younger male bias
      • Figure 30: Demographic profile of livestreamed music viewers, 2023
  13. Future Interest in Events

    • Data on intentions suggests a mood of consumer caution
      • Figure 31: Intentions to attend/watch music events in the next 12 months, 2022 and 2023
      • Figure 32: Experience of music events in the past 12 months versus intentions in the next 12 months, 2023
  14. Music Concerts and Festivals – Behaviours and Preferences

    • Cost of living is likely to lead to behaviour changes…
      • Figure 33: Impact of the cost-of-living crisis on attending live music events, 2023
      • Figure 34: Impact of the cost-of-living crisis on attending live music events, by age, 2023
    • …but 40% of event-goers are now going to more live music than pre-pandemic
      • Figure 35: Impact of the cost of COVID-19 on attending live music events, 2023
    • One in four adults expect to watch livestreamed events more than in-person ones in future
      • Figure 36: Agreement with the statement ‘I expect to watch livestreamed music concerts/festivals more than in-person ones in the future’, by generation, 2023
    • Ticketing hassles and safety concerns are growing barriers to attendance
      • Figure 37: Attitudes towards buying tickets and personal safety at live music events, 2023
    • Strong interest in smaller-scale and day-only festivals
      • Figure 38: Attitudes towards day-only versus overnight music festivals, and small versus large music festivals, 2023
  15. Music Concerts and Festivals – Enhancing the Live Experience

    • ‘Hybrid’ events will become the norm…
    • …but the pure ‘unplugged’ experience will also gain greater value
      • Figure 39: Interest in the use of technology to enhance live music concerts/festivals, 2023
    • Festival apps offer potential for a personalised experience…
    • …and can help to inform and drive greener choices
      • Figure 40: Interest in the use of apps for live music concerts/festivals, 2023
    • Mixed cultural content and wellness can broaden the festival experience
      • Figure 41: Interest in other activities at music festivals, 2023
  16. Music Concerts and Festivals – Payment and Premiumisation Opportunities

    • Opportunities for more dynamic and flexible pricing structures
      • Figure 42: Interest in payment/premium options at live music events, 2023
    • Low cost versus VIP
      • Figure 43: Music Concerts and Festivals – CHAID – Tree output, 2023
    • Adding value through exclusivity
    • The uncertainties of recent years have raised awareness of the value of event insurance
  17. Appendix – Data Sources, Abbreviations, and Supporting Information

    • Abbreviations
    • Consumer research methodology
    • CHAID methodology
      • Figure 44: Music Concerts and Festivals – CHAID – Table output, 2023
  18. Appendix – Forecast Methodology

    • Market forecast and prediction intervals
      • Figure 45: Lower bound, central and upper bound forecast for the value of music concerts and festivals, 2023-28

About the report

This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.

Market

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Consumer

Mintel’s proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.

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Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.

Data

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*databooks not available with UK B2B Industry reports.

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