Description

“The pent-up demand for live entertainment from the days of severe lockdowns has lessened as waves of COVID-19 variants derailed performances earlier this year. The market is recovering, but aside from a booming concert scene, attendance has yet to return to prepandemic levels. Continuing COVID-19 precautions such as mask requirements and encouraging event discovery via social media and fostering word of mouth online could help boost audiences for Broadway shows and struggling performing arts organizations.”
– Kristen Boesel, Senior Lifestyles and Leisure Analyst

This Report looks at the following areas

  • The size and forecast for the live entertainment market (excluding live sports)
  • Types of live events attended in the past 12 months and key demographics of event attendees
  • Sources of information for learning about live events to attend
  • Preferred ticket buying methodologies
  • Concerns and potential barriers for attending live events in the future

Table of Contents

  1. Overview

    • What you need to know
      • This Report looks at the following areas
        • Definition
          • Market context
          • Executive Summary

              • Top takeaways
                • Market overview
                  • Figure 1: Total US revenues and fan chart forecast of live entertainment, at current prices, 2017-27
                  • Source: Bureau of Economic Analysis /Mintel
                • Opportunities and challenges
                  • Millennial men drive the live events market
                    • Figure 3: Live events attended in the past 12 months, Millennial men vs. total adults, 2022
                  • High inflation cuts into lower-income fans’ live event budgets
                    • Figure 4: Agreement that rising costs will minimize live event attendance, by gender, 2022
                  • At least half of all event attendees are concerned about exposure to COVID-19 at events
                    • Figure 5: Attitudes toward COVID-19 and live events, 2022
                  • Social media is integral to event discovery
                    • Figure 6: Social media-related sources of information about upcoming events, by age, 2022
                  • Key consumer insights
                  • Market Size and Forecast

                    • On track for recovery, but challenges remain
                      • Figure 7: Total US revenues and fan chart forecast of live entertainment, at current prices, 2017-27
                      • Figure 8: Total US revenues and forecast of live entertainment, at current prices, 2017-27
                  • Live Entertainment by the Numbers

                    • Concerts & Festivals
                      • Broadway
                        • Performing Arts
                        • Market Factors

                          • Economic factors limit entertainment spending
                            • Inflation reallocates budgets away from leisure spending
                              • Figure 9: Consumer Price Index change from previous year, 2007-22
                            • Dropping DPI means less money to spend on live entertainment
                              • Figure 10: Disposable Personal Income change from previous period, 2020-22
                            • Volatility threatens patrons of the arts
                              • Ongoing pandemic continues to influence live entertainment market
                                • COVID-19 concerns keep some audiences away
                                  • Ticket buying habits have changed
                                    • Slow return of employees to offices hurts entertainment venues
                                    • Companies and Brands

                                      • LiveNation and Ticketmaster dominate live music market
                                        • Tech enables a heated secondary market
                                          • Netflix wants fans to be in on the jokes
                                            • Extended runs at fewer venues help artists minimize touring costs
                                              • Hulu helps make festival season more accessible
                                                • Big names and revivals bring some hope to Broadway
                                                • Current Opportunities

                                                    • Meeting fans’ needs via the lens of the Experiences Trend Driver
                                                      • Figure 11: Mintel Consumer Trend Driver Experiences
                                                    • Contests can inspire hope and enjoyment
                                                      • Figure 12: Instagram ad promoting contest for the ultimate Bonnaroo experience, 2022
                                                    • Encourage travel to destination events
                                                      • Figure 13: Interest in planning an overnight stay for a live entertainment event this year, by age and gender, 2022
                                                    • Encourage the gifting of experiences
                                                      • Meeting fans’ needs via the lens of the Value Trend Driver
                                                        • Figure 14: Mintel Consumer Trend Driver Value
                                                      • A third of fans plan to cut back on entertainment spending
                                                        • Figure 15: Agreement that rising costs will minimize live event attendance, by gender, 2022
                                                      • Despite inflation, there’s interest in premium entertainment packages
                                                        • Figure 16: Attitudes toward paying for live event “extras,” by age and gender, 2022
                                                      • Opportunities for bundled travel deals
                                                        • Meeting fans’ needs via the lens of the Technology Trend Driver
                                                          • Figure 17: Mintel Consumer Trend Driver Technology
                                                        • Live streamed entertainment events are better than nothing
                                                          • Figure 18: Virtual events watched in the past 12 months, 2022
                                                        • Four in 10 fans are interested in attending events in the metaverse
                                                          • Figure 19: Roblox Instagram post, 2021
                                                      • The Live Entertainment Consumer – Fast Facts

                                                        • 56% of all adults paid for a live entertainment event in the past 12 months
                                                          • 66% of event attendees learn about entertainment events from social media
                                                            • 42% of event attendees typically buy tickets as soon as they are available
                                                              • 56% of event attendees worry about exposure to COVID-19
                                                              • Live Events Attended

                                                                • Slight majority of adults attended a live event in the past year
                                                                  • Figure 20: Live events attended in the past 12 months, 2022
                                                                • Millennial men drive the live events market
                                                                  • Figure 21: Live events attended in the past 12 months, Millennial men vs. total adults, 2022
                                                                • Dads don’t shy away from live events
                                                                  • Figure 22: Live events attended in the past 12 months, parents vs. total adults, 2022
                                                                • Consider highlighting for Dads the potential live events have for bonding opportunities
                                                                  • Figure 23: Nari and Sarita Rampersad attend a Harry Styles concert, 2022
                                                                • Attending live events requires a certain amount of wealth; foodservice partnerships can help
                                                                  • Figure 24: Adults who have paid to attend any live event in the past 12 months, by household income, 2022
                                                                • More-affluent Black fans are especially engaged with comedy and music festivals
                                                                  • Figure 25: Adults who attended comedy events or music festivals, by race, Hispanic origin and household income, 2022
                                                                  • Figure 26: Instagram post promoting Sherri Shepherd at the Martha’s Vineyard Comedy Fest, August 2022
                                                              • Learning about Events

                                                                • Social media is crucial for promoting live events
                                                                  • Figure 27: Sources of information about upcoming events, 2022
                                                                  • Figure 28: Social media platforms visited at least once per day, by age, 2022
                                                                • Older Millennials rely more on paid social media ads
                                                                  • Figure 29: Social media-related sources of information about upcoming events, by age, 2022
                                                                • Nostalgic tours will appeal to older Millennials
                                                                  • Figure 30: Live Nation Instagram advertisement for Alanis Morissette’s world tour, 2022
                                                                • Men aged 35-54 access information across a wider number of sources
                                                                  • Figure 31: Average number of sources of information used to learn about upcoming live events, by gender and age, 2022
                                                                  • Figure 32: Sources of information about upcoming events, by gender, 2022
                                                                • Online resources outside of social media are important for older fans
                                                                  • Figure 33: Digital sources of information about upcoming events, by age, 2022
                                                                • Opportunities to give older ladies a day out at the theater
                                                                • Buying Tickets

                                                                  • Four in 10 fans buy tickets as soon as they can
                                                                    • Figure 34: Attitudes and behaviors related to ticket purchasing, 2022
                                                                  • Younger Millennials drive mobile purchasing
                                                                    • Figure 35: Event attendees who typically buy tickets on a mobile app, by gender and age, 2022
                                                                  • Little interest in ticket insurance
                                                                    • Figure 36: Live Nation Facebook creative, 2021
                                                                  • Music events rely on ticket distributors
                                                                    • Box office sales remain relevant for performing arts
                                                                      • Figure 37: Ticket purchase methods, by type of event, 2022
                                                                  • Concerns

                                                                    • Visible COVID-19 precautions remain necessary
                                                                      • Figure 38: Attitudes toward COVID-19 and live events, 2022
                                                                      • Figure 39: Comfort with COVID-19 precautions, by age and gender, 2022
                                                                    • Black event goers also want to see COVID-19 precautions
                                                                      • Figure 40: Comfort with COVID-19 precautions, by race and Hispanic origin, 2022
                                                                    • A third of female eventgoers are hesitant to attend events due to safety
                                                                      • Figure 41: Concerns about safety in large events (eg overcrowding, assault), by gender, 2022
                                                                    • Opportunities to leverage the Technology Driver to protect eventgoers’ Rights
                                                                    • Appendix – Data Sources and Abbreviations

                                                                      • Data sources
                                                                        • Desk research
                                                                          • Sales data
                                                                            • Forecast
                                                                              • Consumer survey data
                                                                                • Marketing creative
                                                                                  • Abbreviations and terms
                                                                                    • Abbreviations
                                                                                    • Appendix – The Market

                                                                                        • Figure 42: Total US revenues and forecast of live entertainment, at inflation-adjusted prices, 2017-27

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