live music industry statistics 2020

According to the IFPI’s latest report, Japan’s market was … Having the cheap option of paying an average of as little as $10 per month, music lovers are more inclined to avail of streaming services. K-Pop fans also listen more to music than the average American. Adele is the best-selling album artist of the decade, selling over 23,924,000 albums. Taylor Swift’s “ME!” featuring Brendon Urie holds the record for the biggest single-week upward movement when it debuted at #100 and jumped to #2, the following week. At the same time, however, paying audiences have become increasingly attracted to live music, underlining the industry adage, “You can’t download an experience.”, Related: Capturing Concerts for VR, by Alvin Fernald, Aug. 26, 2019, That doesn’t mean technologists won’t try to make that happen, of course. According to various year-end reports, streaming is showing no signs of slowing down. The Beatles topped the list of bands and groups with their 6 Diamond certifications. Executive summary Key statistics n In 2019, live music contributed £4.5 billion to the UK economy ² While individual market estimates vary, financial research sources as a whole point to continued strong consumer interest in concerts and live music experiences in the years to come. In 2019, digital sales revenue declined by -23.5%. On the other hand, there are still a handful of artists that pull phenomenal sales even in the streaming era. Q2 revenues could average out at between -2% and +1.5% up on Q1. Post Malone had the biggest first-week on-demand audio streams in 2019 with 365.4 million. (Business Wire, 2021) The global digital music revenue in 2019 hit $1.5 billion. A number of trends have been identified by those making the predictions. The Australian music industry is facing particular pressures in light of the severe impacts of COVID-19. Tags ⋅ Audiophile Series ⋅ Concert Sound ⋅ concert venue ⋅ Fathom Events ⋅ industry forecast ⋅ Live Sound ⋅ Ray Nutt ⋅ Sound Reinforcement ⋅ Supersphere ⋅ trends. The research, carried out on behalf of LIVE, the umbrella group representing the live music industry, found: In 2019 live music supported 210,000 full-time equivalent roles, as well as tens of thousands of freelancers. Lil Nas X’s song “Old Town Road” featuring Billy Ray Cyrus is the longest-charting number one song in the Hot 100 with 18 weeks. The Recording Industry Association of America or RIAA is the governing body when it comes to giving out certifications. Taylor Swift, for example, managed to still cross the 1 million pure first-week sales for her 2017 album, Reputation. However, that’s not the case anymore in the streaming era. Groups like BTS, EXO, and many more took the world by storm. 3 The concert industry … Even sports teams like the Oakland Athletics…. While the availability of more arenas to play turns into more potential revenue down the line for national tour sound companies, regional and local audio providers won’t miss out on live music’s continued wave of success. According to The Wall Street Journal, an arena may do well presenting an NBA and NHL game, but it can often rake in double the net income for the night by presenting a concert. Garth Brooks remains as the artist with the most Diamond certifications with eight. The global Music market report is a comprehensive research that focuses on the overall consumption structure, development trends, sales models and sales of top countries in the global Music market. With more people streaming albums and songs on services like Spotify and Apple Music, labels and artists alike are troubled. Moreover, if you’re already in the business as an event organizer for concerts, you may want to look at various event management software that can help you out. Post Malone - Sunflower - Spider-Man: Into the Spiderverse. These platforms offer compensation for artists who upload their work based on the number of views or streams it received within a certain period. In the US, 67% of the population have listened to online radio in the past month in 2019. There were 225 million paid music subscribers worldwide. Adele holds the record of the fastest-selling album for “25,” selling over 3,378,000 copies in its first week. ... “We know what an immensely tough year 2020 has been for the music industry … Tags: 2019 review Market data. 9 out of 10 social media users do music-related social media activity. Each month we help +100k companies to find efficient online tools. With 208 songs that charted, Drake is the number one artist with the most Hot 100 entries. Independent labels employ about 3,900 people. Indian Music Industry Stats: India's Digital Revolution By the Numbers. Many industries have had to revise their revenue forecasts downwards as a result of the coronavirus outbreak. The label will then fund an artist’s work, in return for the master license to the songs and albums published within the timeframe in the contract. Clive Young ⋅ ... 35% of Americans said that they attended live music concerts in 2018. In the streaming era, this ecosystem can be considered obsolete. US K-Pop fans outspend the general population on total music spend. Each year, billions of dollars are reported as the industry’s annual revenue—writers, producers, artists, labels, and more benefit from the continuous patronage of music fans around the globe. The live music industry could lose nearly $9 billion in ticket sales after the coronavirus canceled most performances in 2020. This fact has not been lost on venues; arenas that don’t have to accommodate a major-league sports schedule have upwards of 40 more potential dates each year to play with when determining their concert schedules. Concerts are one of the many avenues in which labels and artists make money. Supersphere, an entertainment production company that specializes in immersive and interactive live broadcast events, has streamed more than 80 events in the past two years, including a string of concerts branded The Audiophile Series that viewers watch using Oculus VR headsets. (Business Wire, 2021) In 2019, the global market for music streaming was worth $26 billion. The novel coronavirus has done a number on the music industry -- and live entertainment concert promoters in particular. Conferences, meetings, and events with customers and employees give you a sure way to listen to their voices in real-time. Taylor Swift is the only artist in history to sell 1 million album units in the first week of release for 4 consecutive albums. The global music streaming market is estimated to grow at a CAGR of 7.4% from 2020 to 2027, to reach $46.9 billion in 2027. According to trade publication Pollstar, the concert industry could lose as much as $9 billion in 2020 alone, and that figure, points out Variety, “doesn’t include the losses of … Streaming has provided some compensation for the music market amid COVID-19, and it is now the largest driver of industry revenues. Ariana Grande. U2’s 360° Tour has the highest average of attendance with 66,110 attendees per show. Even in the streaming era, there is still a portion of the population that are fond of radios both online and in the airwaves. © 2021 Pro Sound News is part of Future plc, an international media group and leading digital publisher. Copyright © 2020 CompareCamp. If the recession deepens significantly in the second half of 2020, the combined effect of higher unemployment and reduced consumer spending could result in a worst case scenario of -4.0% annual growth for recorded music. For artists and labels, certifications and chart positions are great indicators that their song is a massive success. Music festivals in 2018 were attended by 23% of Americans. Taylor Swift’s Reputation Stadium Tour is the highest-grossing tour in the US and North American history, grossing $266.1 million. Digital sales dominated the Classical genre, accounting for 12% of the total album equivalent units. Radio is the top-used format in Germany (58%), Canada (51%), UK (51%), and US (44%). However, unlike today, music back then was exclusive only to aristocrats and the wealthy. Smart Speaker Surge: Ownership Expands To One In Four Americans. “Thriller” by Michael Jackson sold 33 million copies making it RIAA’s highest certified Diamond album by a solo male artist. A study on the global music industry has shown that the worldwide live music industry will manage to generate total revenue of $31.49 billion by 2023. The biggest market share in the industry belongs to independent labels with 41.4%. Online radio is popular among Americans between 12 and 24 years old with 91% of them saying they listen to online radio. From CDs to vinyl to various streaming platforms, music can now be heard virtually anytime and anywhere. According to She Is The Music, only 21.7% of women are artists, 12.5% of women are songwriters and only 2.7% of women are producers. Analysis: the music industry enters 2020 on a wave of growth – and optimism. Jeffrey Brown: Postponed festivals, canceled concerts, shuttered clubs, economic pain for musicians everywhere, in so many ways, 2020 was the year the live music … Drake dominated streaming in the last decade, garnering 36,335,298,000 on-demand streams. “The Dark Side Of The Moon” by Pink Floyd is the longest-charting album on the Billboard Hot 200 with 950 weeks. For more stories like this, and to keep up to date with all our market leading news, features and analysis, sign up to our newsletter here. Smaller clubs like the End and the 5 Spot provide a proving ground for new bands. All B2B Directory Rights Reserved. Only 37 songs have debuted at number one in the Hot 100. Americans spend 16 hours and 47 minutes listening to online radio. Revenue from physical album sales declined by -15% in 2019. And in just a few years, streaming has now become an integral part of the industry. Shania Twain is the top female soloist with 3 Diamond certifications. Relatively speaking, she still did well compared to her peers. Virtual Reality is already seeping into so much of … Pink is the number one touring artist of 2019 worldwide with a tour gross of $215.2 million. The way people consume music has drastically changed over the years. 10. These certifications are divided into four classifications: Gold, Platinum, Multi-Platinum, and Diamond in that order of magnitude. The music industry was in crisis just a few years ago. That’s a fact. Governments use it to diagnose inefficiencies while organizations use data to predict the future that they want to shape. Sucker by Jonas Brothers garnered 849,000 in radios in 2019. At wholesale value, revenues grew 5.1% to … Industry Data. US consumers spend an average of 4 hours a day listening to music. The number of music tourists, those travelling from overseas or within the UK to get to live events, hit a new high of 11.2m last year, up from 10.9m in 2017. 2 And then COVID-19 struck, postponing or canceling music events and concerts large and small, wreaking a devastating financial impact. Live music industry could lose 170,000 jobs by end of 2020, new report warns. Banks, consultants, sales & marketing teams, accountants and students all find value in IBISWorld. Streaming is the future of the music industry. In 2018, the US Census Bureau estimated that the revenue of US music publishers was $6.12 billion. Fans turn out for these events. Current forecasts anticipate a revenue fall for the live music industry of ~90 percent in 2020, a number that will only recover once the global borders are opened to touring acts. More than 1.2 trillion songs streamed on-demand in 2018. Shania Twain’s “Come On Over” is RIAA’s highest certified Diamond album from a solo female artist with over 20 million units sold. There’s little question that 2019 will be remembered as one of the biggest years ever for the concert industry. The US digital and customized radio services revenues were $1.16 billion in 2019. While music events like these highlight the need for cinemas to install top-shelf audio systems in their facilities, they also confirm something that arena operators already know: that live music shows often perform better at the box office than the original draws the venues were built for. The number of paid subscribers grew by 27.8% from 2017 to 2018. While year-end tallies of 2019’s top-grossing tours weren’t yet available as we went to press, there’s little question that this year will be remembered as one of the biggest ones ever for the concert industry. “My Life Would Suck Without You” by Kelly Clarkson holds the record for the biggest jump to number one when it debuted at #97.

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