PROJECTED GLOBAL REVENUE $23 BILLION

Variety VIP+ and UTA IQ present an updated special report

$130.81 AVERAGE CONCERT TICKET PRICE

P.1
&
PRESENTED BY
S P E C I A L R E P O R T | Up date d First Editio n, January 2024
 TO SIZE UP LIVE MUSIC,
IT TAKES A DUET TO D O IT
I
can’t think of a concert I’ve gone research, analytics and insights division
to in the past decade that wasn’t of the leading global talent, entertain-
enlivened by a surprise special guest ment, sports and marketing company.
brought on stage to the delight of Together, we’ve crafted a groundbreak-
the crowd. Whether it was Billy Joel shar- ing consumer survey on the U.S. live music
ing a microphone with Pink or Elton John category at the perfect time — coming off
going toe to toe with Britney Spears, a record-breaking summer of tours nota-
these performer pairings have a way of bly led by Taylor Swift and Beyoncé. Aptly,
conveying that 1 + 1 = 3. it’s titled “Peak Performance,” as our aim
I think you’ll find the same holds true was to examine why audience levels hit
in this data-filled special report on the such a high note in 2023. There is so much
concert business, where VIP+ has brought to unpack, particularly when the U.S.
in a real ringer for a research duet sure economy has had its share of struggles —
to bring down the house: UTA IQ, the which makes reactions to pricing espe-
cially noteworthy — and so much in the
larger entertainment industry is stuck
in the doldrums.
After first issuing this report in Octo-
ber, we updated it at the start of 2024
with fresh year-end data and analysis
on slides 4, 8, 10 and 17 to give a more
complete sense of just what a boom the
concert biz has been experiencing.
“Peak Performance” is an eye-open-
ing read for those looking to understand
where the live music industry is headed
next through a consumer survey that
yields some surprises.
VIP+ also has big plans well through
2024 for ambitious explorations of the
media industry issues that matter most
to you, our subscribers. But if you have
suggestions, do let me hear them at
vip@pmc.com.
Andrew Wallenstein
President and Chief Media Analyst, VIP+
P.2
 Peak
Performance
Ascendant Attendance p.04 p.05 Audience Motivation
About the Author

Heidi Chung, Variety Intelligence

The Simple Narrative p.06 p.07 Underestimating Men
Power Performers p.08 p.09 No Dominant Genre
Surging Ticket Prices p.10 p.11 Surging Ticket Prices Pt. 2
Relying on Resale p.12 p.13 Credit & Payment Plans
Finding Out About Shows p.14 p.15 Music Tourism
Music Festivals p.16 p.17 Venue Values
Concerts vs. Live Events p.18 p.19 Listening to Listeners
Repeat Business p.20 p.21 Looking Ahead
= updated
Platform’s media analyst and corre-
spondent, covers the business and
financials of entertainment, media and
tech companies both on our pages
and on camera. Previously, she was a
markets reporter for Yahoo Finance
and a producer at CNBC.
Methodology
UTA and Variety VIP+ fielded an
online quantitative survey to the
general population of U.S. consumers
ages 15-69 about their concert and
music festival attendance in 2019
and the past 12 months, anticipated
future attendance of live music events,
and barriers to attending.
Consumers who attended a concert
or music fest in 2019 or in the past 12
months were classified as “live music
goers” and qualified for additional
questions, including about their
motivations, discovery of events
and ticket-buying habits.
Field Dates: Aug. 15-24, 2023; pages 4, 8,
10, 17 updated with year-end data
Sample: 4,036 total respondents,
including 1,500 live music goers
Age and gender distribution reflective
of U.S. population

P.3
 ASCENDANT ATTENDANCE

» The live music business Worldwide Top 100 Tours Total Gross Worldwide Top 100 Tours Total Tickets Sold
finished 2023 in record- $9.17B
breaking fashion. Global 70M
music sales figures for the $8B 59M
year for the top 100 tours 60M 57M
$6.28B
reflect growth over both
6B $5.55B
2022 and, a more impressive
comparison, the pre-pan- 40M
demic 2019. While Taylor 4B
Swift and Beyoncé got the
lion’s share of the credit, 2B 20M
an even broader-based
wave of strong performers
powered the boom. 2019 2022 2023
2019 2022 2023
SOURCE: POLLSTAR “2023 YEAR-END BUSINESS ANALYSIS”
» The worldwide top 100 NOTE: GLOBAL TOTALS IN U.S. DOLLARS; DATA
tours’ total gross of $9.17 COLLECTED NOV. 17, 2022-AUG. 16, 2023 SOURCE: POLLSTAR “2023 YEAR-END BUSINESS ANALYSIS”
billion in 2023 was 46%
higher than the same period
last year. The total number Global & U.S. Live Music Ticket Sale Forecast
of tickets for the top 100 Domestic International
tours climbed 18.4% from
2022 and 22.8% from 2019.
$25.2B $25.6B
$24B $24.7B
» The outlook for live music $21.5B
$23B
$20.8B $20.3B
remains bright. U.S. revenue
$20B
is expected to total $9.5
billion this year and could
reach $10.5 billion in 2027, B
$10.3B B
$10.5B
$10.2B $9.5B $9.9B B
$10.1B
per PwC. Globally, revenue 10B $8.2B $8.5B $8.5B
will likely top $23 billion $5.4B
$4.1B
in 2023 and rise to $25.6 $2.2B
billion in 2027. And that
doesn’t include sponsorship 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027
revenues, which add at least
an estimated $5 billion. SOURCE: PWC U.S. & GLOBAL E&M OUTLOOK; NOTE: NUMBERS SHOWN ARE ROUNDED; FIGURES FOR 2023-27 ARE ESTIMATES

P.4
Pent-up demand refers to a situation where demand
for a service or product is unusually strong.
Economists generally use the term to describe the

AUDIENCE MOTIVATION
general public's return to consumerism following a
period of decreased spending. The idea is that
consumers tend to hold off making purchases during a
recession, building up a backlog of demand that is
unleashed when signs of a recovery emerge.

Importance of Concert or Attitudes About Attending » There are several factors

Music Festival Attendance Concerts or Music Festivals driving up the surge in atten-
dance at live music experi-
Survey Q: To what extent do you agree with the following Survey Q: To what extent do you agree with the following
statement? Attending concerts or music festivals has become statement? Attending concerts or music festivals are some ences. First is the pent-up
more important to me since the COVID-19 pandemic. of my favorite memories. demand following the pan-
demic, a period when people
Agree completely 16% Agree completely 29% had a renewed appreciation
for spending communal time
Agree very much 18% Agree very much 29% outside. More than one-third
of U.S. live event attendees
said going to concerts and
Agree somewhat 26% Agree somewhat 24%
music festivals had become
more important to them.
Agree a little 19% Agree a little 15%
» Some 43% of consumers
Do not agree at all 21% Do not agree at all 4% cited live music events as
more meaningful than other
types of live events or expe-
riences. Furthermore, 57%
Reasons for Attending a Concert or Music Festival of respondents said attend-
ing concerts and music
To see artists play some of their older music 80% festivals were some of
To see artists I've never seen live before 77% their favorite memories.
To see artists I've previously seen live 76%
To see artists play their new music 75%
» A notable share of fans are
seeing live music more than
To go to a venue I already like 66%
they were pre-pandemic —
If the artist/tour/festival will have good production 64% especially the largest gene-
For a social experience 63% ration, millennials. But the
If someone I know recommended seeing the artist live 61% pandemic wasn’t the only
To go to a venue I haven't been to before 55% motivator, with the top
reasons for attending con-
To feel part of a community 50%
certs or music festivals as
To buy exclusive merchandise 38%
timeless as they were varied,
including just being part of a
SOURCE (ALL): UTA IQ & VARIETY VIP+ LIVE MUSIC SURVEY; NOTE: CONDUCTED ONLINE AUG. 15-24, 2023, AMONG U.S. CONSUMERS 15-69 (N= 1,500) communal experience.

P.5
 THE SIMPLE NARRATIVE

» Without question, the

concert business’ biggest
success story this year was
the unforgettable summer
tours of both Taylor Swift
and Beyoncé. Still, beware
of simple narratives that
bounce around the media
echo chamber when there’s
actually a more complicated
story to tell.

» Conventional wisdom had it

that the record crowds we
saw at stadiums across the
country came from over-
whelmingly female crowds
flexing their spending power
BEYONCÉ COURTESY OF AMPAS; SWIFT: MATT WINKELMEYER/GETTY IMAGES

like never before, a reflection

of demographic shifts such
as higher weekly earnings
for women choosing to have
children later in life.

» There’s no reason to
disbelieve, nor is there
anything to be taken away
from, the remarkable
achievements of the female
headliners who dominated
this summer in particular.
But this survey indicates to
not look beyond that is to get
an incomplete picture of the
forces that shaped the 2023
concert scene.

P.6
 UNDERESTIMATING MEN

Change in Concert Attendance by Gender Concert Attendance Frequency » While women were certainly
Past year compared to pre-COVID in Past 12 Months by Gender out in force for Taylor Swift
Female Male
Female Male and Beyoncé, guys have been
Increased 16% 29% 4 8% 8% overlooked as a key audience
Stayed the same 54% 47% 5 7% 7% segment both before and
Decreased 30% 24% 6 5% 6% since the pandemic. Men
7
were more likely to have gone
SOURCE: UTA IQ & VARIETY VIP+ LIVE MUSIC SURVEY; NOTE: SURVEY WAS 4% 5%
CONDUCTED ONLINE BETWEEN AUG. 15-24 AMONG U.S. to a concert in 2023, with
8 2% 8%
CONSUMERS 15-69 (N= 2,949) 42% saying they’ve attended
9 3% 7%
a live music show in the past
10 3% 5% 12 months, compared with
Pre-COVID Live Event Attendance by Gender More than 10 4% 9% 31% of women.
Survey Q: Think back to pre-pandemic. Please select whether or
SOURCE: UTA IQ & VARIETY VIP+ LIVE MUSIC SURVEY; NOTE: SURVEY WAS
not you attended each type of ticketed live event in 2019. CONDUCTED ONLINE BETWEEN AUG. 15-24 AMONG U.S. » Men were almost twice
Female Male CONSUMERS 15-69 (N= 1,076)
as likely as women to say
Concert 37% 46% their concert attendance
increased over the past 12
Food or beverage festival 34% 43% Live Event Attendance in Past 12 Months by Gender
months versus pre-COVID.
Female Male
Music festival 25% 37% Meanwhile, one-third of wom-
Concert 31% 42%
en actually said their concert
Professional sporting event 25% 45% Food or beverage festival 28% 37% attendance in the past 12
Play or theater performance 28% 34% Music festival 21% 31% months decreased compared
Professional sporting event 21% 39% with pre-COVID.
Comedy show 17% 34%
Play or theater performance 23% 31%
Gaming or esports tournament 12% 26% » Additionally, men were
Comedy show 15% 30%
Fan convention (e.g. BravoCon, attending concerts more
9% 21% Gaming or esports tournament 10% 24%
Comic-Con) frequently than women.
Fan convention (e.g. BravoCon,
TV show screening and Q&A 9% 21% 9% 22% Fifty-five percent of men
Comic-Con)
Book signing or author TV show screening and Q&A 8% 21% said they went four or more
9% 18% times in the past 12 months,
appearance
Film festival/screening and Q&A 8% 19%
Film festival/screening and Q&A 8% 20% as compared with 36% of
Book signing or author
8% 18% women. As for their musical
Podcast taping or host appearance
6% 18% Podcast taping or tastes, men are most likely
appearance 7% 18%
host appearance
to have gone to rock/metal/
SOURCE: UTA IQ & VARIETY VIP+ LIVE MUSIC SURVEY; NOTE: SURVEY WAS SOURCE: UTA IQ & VARIETY VIP+ LIVE MUSIC SURVEY; NOTE: SURVEY WAS
CONDUCTED ONLINE BETWEEN AUG. 15-24 AMONG U.S. CONDUCTED ONLINE BETWEEN AUG. 15-24 AMONG U.S.
punk and hip-hop/rap shows.
CONSUMERS 15-69 (N= 4,036) CONSUMERS 15-69 (N= 4,036)

P.7
 POWER PERFORMERS

» The Eras Tour and the Top Tours of 2023 Top Ticket Sales in 2023
Renaissance World Tour
generated eye-popping sums z Artist Total Gross Total Attendance # of Shows z Artist Total Attendance # of Shows
for Taylor Swift ($904.1 mil- 1 z Taylor Swift $906.1M 4.1M 66 1 z Taylor Swift 4.1M 66
lion) and Beyoncé ($570.5 2 z Beyoncé $570.5M 2.7M 55 2 Coldplay 3.2M 55
million), respectively. But
3 z Coldplay $342.2M 3.2M 55 3 z Harry Styles 3.1M 69
on a ticket-volume basis,
4 Harry Styles $338.2M 3.1M 69 4 Beyoncé 2.7M 55
Coldplay actually did better
z z

than Beyoncé, even though 5 z Morgan Wallen $260.4M 1.3M 44 5 z Ed Sheeran 2.5M 46
they performed the same 6 z Ed Sheeran $256.9M 2.5M 46 6 z The Weeknd 1.9M 35
number of shows in 2023. 7 z P!nk $226.6M 1.6M 37 7 z Depeche Mode 1.8M 47
8 Elton John $210.0M 1.3M 65 8 P!nk 1.6M 37
» As big a year as the women
z z

9 The Weeknd $192.5M 1.9M 35 9 Luke Combs 1.4M 42

atop the box office had,
z

male solo artists were no 10 Depeche Mode

z $175.2M 1.8M 47 10 Morgan Wallen
z 1.3M 44

slouches across genres, SOURCE (All): BILLBOARD BULLETIN

either. Just look at how NOTE: DATA GATHERED NOV. 1, 2022—SEPT. 30, 2023
strong the returns were for
Harry Styles, Luke Combs,
Ed Sheeran and The Weeknd. Top 100 Tours of 2023, by Genre
% of each music type represented within the biggest tours
» It’s no surprise that pop and Comedy (1.8)
Classical (2.7)
R&B were the most success-
Rap (2.7)
ful genres on concert stages
in 2023 — but not by much. K-pop (5.1)
Country music actually
enjoyed its most roaring year Rock (32.4)
Latin (11.5)
ever as a not-too-distant
third, thanks in large part to
a breakout year from Morgan
Wallen. Latin artists kept Country (12.7)
things going strong after
enjoying a banner 2022 led
by chart-topper Bad Bunny. Pop (15.8)
R&B (15.2)

P.8
 NO DOMINANT GENRE

Top Genres Among Event Attendees Top Genres for Live Music Events » Taylor Swift and Beyoncé
in Past 12 Months Among Different Age Groups may reign supreme, but
Genre z Concert(s) Music Festival(s) Genre z Gen Z Millennial Gen X Boomer there wasn’t any one
Rock/Metal/Punk 46%
z 48%
z Rock/Metal/Punk 34%
z 51%
z 49%
z 37%
z

particular genre that

Pop 44%
z 53%
z Pop 50%
z 54%
z 32%
z 28%
z

dominated in popularity,
Country 43% 50% Country 36% 51% 42% 36%
z z z z z z

according to the survey.

Hip-Hop/Rap 43% 54% Hip-Hop/Rap 52% 62% 27% 10%
In the past 12 months,
z z z z z z

Soul/R&B 35%
z 45%
z Soul/R&B 37%
z 51%
z 26%
z 16%
z

Multi-genre 30%
z 41%
z Multi-genre 36%
z 43%
z 18%
z 16%
z
U.S. consumers said they
Christian/Gospel 28% z 36%
z Christian/Gospel 30%z 36%
z 25%
z 15%
z
attended rock/metal/
Indie/Alternative 28%
z 36%
z Indie/Alternative 31%
z 39%
z 20%
z 8% z
punk, pop, country and
Jazz 27%
z 37%
z Jazz 25%
z 41%
z 19%
z 14%
z
hip-hop/rap shows in nearly
Classical 27%
z 36%
z Classical 28%
z 38%
z 19%
z 13%
13

equal measures.
Children’s/Family 26%
z 38%
z Children’s/Family 26%
z 40%
z 21%
z 9% z

Dance/Electronic/EDM
25%
z 36%
z Dance/Electronic/EDM 29%
z 40%
z 16%
z 4% z

» Of those who have been

Folk/Acoustic 25% 33% Folk/Acoustic 25% 35% 18% 13%
to a concert in the past 12
z z z z z z

Latin 22% 32% Latin 27% 34% 14% 4%

months, 46% opted for rock/
z z z z z z

K-Pop 23%
z 31%
z K-Pop 27%
z 35%
z 12%
z 4% z

metal/punk, 44% pop, 43%

SOURCE: UTA IQ & VARIETY VIP+ LIVE MUSIC SURVEY; NOTE: CONDUCTED ONLINE AUG. 15-24, 2023, AMONG U.S. CONSUMERS 15-69 (N= 4,036)
country and 43% hip-hop/
rap. Of those who attended
Top Genres: Pre-Summer 2023 a music festival over the
The biggest tours within each
past 12 months, 54% went to
Genre Artist z Gross Attendance Number of Shows
Pop Harry Styles
z z $138.61M 1.22M 38
hip-hop/rap shows, 53% pop,
Pop Ed Sheeran z z$93.94M 888.63K
z 21 z
50% country and 48% rock/
Pop Michael Bublé
z z$41.58M 413.72K
z 40 z
metal/punk.
Pop Backstreet Boys
z z$34.85M 341.73K
z 22 z

Pop Seventeen z z$30.03M 316.86K

z 8 z

» Top genres varied among age

R&B/Hip-Hop New Edition z z$36.41M 298.61K
z 31 z

demographics. Gen Z and

R&B/Hip-Hop SZA z$34.49M 230.61K
z 18 z

Millennials preferred pop and

R&B/Hip-Hop Chris Brown $34.43M 377.41K 27
hip-hop/rap, while Gen X and
z z z z

R&B/Hip-Hop Lizzo $30.22M 340.78K 28

Boomers opted for rock/met-
z z z z

R&B/Hip-Hop Usher z z$21.63M 93.75K

z 19 z

Rock Elton John z z $138.18M 798.15K

z 32 z
al/punk and country music
Rock Coldplay z z$95.26M 1.11M z 17 z
events. The younger genera-
Rock z Red Hot Chili Peppers & Post Malone z$48.23M 378.61K
z 8 z
tions attended shows across
Rock Phish z z$42.03M 203.57K
z 16 z a wider variety of genres.
Rock Journey z z$39.44M 381.64K
z 38 z

SOURCE: SOURCE: BILLBOARD BOXSCORE; NOTE: DATA GATHERED NOV. 1, 2022-APRIL 30, 2023

P.9
 SURGING TICKET PRICES

» Ticket prices for concerts Worldwide

2023 Top 100
Worldwide TopTours
100 Tours Prices Paid for Concert Tickets in Past 12 Months
and festivals have risen Average Ticket Price in U.S. Dollars
in tandem with the post- 35% 35%
$122.84
$131
pandemic surge in demand.
Average ticket cost for the $102.07
$106 21%
$100.00 $91.18
top 100 tours worldwide $96 20%
$100 16%
increased 23.33% over 2022
9%
and 36% from 2019. 5%
3%
50.00
50
» While news of expensive

More than $500

Under $50

$50-$100

$101-$200

$201-$300

$301-$400

$401-$500
tickets for highly coveted
shows has dominated the live
music conversation as of late, 2019 2022 2023
2019 2022 2023
68% of concert and festival-
goers said they haven’t ever SOURCE:
SOURCE:POLLSTAR
POLLSTAR“2022
“2023YEAR-END
MID-YEARBUSINESS
BUSINESSANALYSIS,”
ANALYSIS” SOURCE: UTA IQ & VARIETY VIP+ LIVE MUSIC SURVEY; NOTE: CONDUCTED
spent more than $300 on a “2023 YEAR-END
NOTE: DATA GATHERED NOV. 17,BUSINESS ANALYSIS”
2022-AUG. 16, 2023 ONLINE AUG. 15-24, 2023, AMONG U.S. CONSUMERS 15-69 (N= 1,500)
concert or fest ticket.

» Still, fiscal restraint has Maximum Cost Willing to Spend on Concert Tickets
its limits: About 38% said Under $50 6%
they are willing to spend
$50-$100 16%
more than $300 in the future
on a single ticket. Over the $101-$200 22%
past 12 months, concert $201-$300 18%
attendees were twice as
$301-$400 11%
likely to spend $200 or more
$401-$500 8%
on a ticket as they were to
spend less than $50 (50% $501-$600 7%
versus 24%, respectively). $601-$700 3%

$701-$800 2%

$801-$900 2%

$901-$1,000 2%

More than $1K 3%

SOURCE: UTA IQ & VARIETY VIP+ LIVE MUSIC SURVEY; NOTE: CONDUCTED ONLINE AUG. 15-24, 2023, AMONG U.S. CONSUMERS 15-69 (N= 1,500)

P.10
 SURGING TICKET PRICES PT. 2
Pandemic Impact on Willingness Live Music Event Attendance Barriers
to Buy VIP Concert Tickets
Ticket price is too high
Ticket fees are too high
Less willing
Tickets sell out/are only
(15%)
available via resale
I have a conflict (e.g., school,
work, prior commitment)
I heard about the event too
close to get tickets/make plans
Too difficult or stressful to deal
with trying to get tickets
Worried about safety at the
show
Show would end too late
Venue has poor amenities (e.g.,
food, drinks, bathrooms)
Venue layout detracts from
concert experience (e.g., bad
acoustics, sightlines)
Show starts too early
None of the above
Impact of Concert Ticket Price
Didn’t impact my ability to go to
other live music shows
Prevented me from going to
More willing Just as willing
more live music shows I would
(30%) (55%)
have wanted to attend
Prevented me from going to
SOURCE: UTA IQ & VARIETY VIP+ LIVE MUSIC SURVEY; NOTE: CONDUCTED bigger/more expensive shows I
ONLINE AUG. 15-24, 2023, AMONG U.S. CONSUMERS 16-69 (N= 1,500) would have wanted to attend
» Despite the strong mar-
ketplace for live music, the
62% cost of tickets is clearly the
biggest impediment out there
54% (62%), which is no surprise
given the rising prices and
48%
state of the economy. For
one-third of concertgoers,
44%
the price of their most ex-
35% pensive ticket in this period
prevented them from going
28% to bigger, more expensive
shows that interested them.
27%
22% » The second biggest barrier
cited for live event atten-
21% dance was high ticket fees,
something that’s become a
19% high-profile political issue
at the federal and state
12% level over reforms that would
force ticket vendors to
5%
disclose fees upfront at the
time of purchase.
» But as cost-conscious as
some consumers are, plenty
of fans are willing to spend
39%
extra for a better experience.
More than half of consumers
(55%) are just as willing to
38% purchase VIP tickets as they
were pre-pandemic, while
3 in 10 (30%) have become
32% more willing.
P.11
 RELYING ON RESALE

» A large majority of live music Purchasing Methods Consumers Are Average Ticket Prices on Resale Sites
attendees are willing to Willing to Use for Resale Tickets Current versus previous tour
purchase resale tickets, with Resale from a ticket-seller Current Past tour
74% saying they would buy platform (e.g., Ticketmaster
74% Taylor Swift
from a ticket-seller platform Verified Resale, $3,801 $157
AXS Official Resale)
such as Ticketmaster Verified Beyoncé $1,096 $245
Resale or AXS Official Resale. A secondary ticket market (e.g.,
69% Harry Styles $1,061 $553
StubHub, Vivid Seats)
And 69% said they would use Coldplay $1,056 $274
a secondary ticket market A social media platform directly
44% Bruce Springsteen $774 $417
like StubHub or Vivid Seats. from another fan
Red Hot Chili Peppers $395 $328
SOURCE: UTA IQ & VARIETY VIP+ LIVE MUSIC SURVEY; NOTE: CONDUCTED
» Not only is purchasing resale ONLINE AUG. 15-24, 2023, AMONG U.S. CONSUMERS 15-69 (N= 1,500) Kendrick Lamar $307 $198
tickets from ticket-seller
platforms the most attractive SOURCE: TICKETIQ; NOTE: DOLLARS REPRESENT AVERAGE RESALE TICKET PRICE
resale buying method, it’s Consumer Trust of Various ON ARTISTS’ CURRENT OR JUST-ENDED TOUR IN NORTH AMERICA
(AS OF JULY 10, 2023)
seen as the most trustworthy, Ticket Purchasing Methods
with 56% of consumers
willing to go this route giving 100%
it high trust scores. Compar-
26% 23% 19% 5 - Trust completely Willingness to Pay Above
atively, 52% of those who Face Value for a Resale Ticket
use or would use a secondary 18% 4
30% 29%
ticket market gave it high 30%
26%
trust scores. 50 25%
32% 3

» Resale ticket inflation was 28% 30%

20%
2
especially high in 2023, but 18%
that may not be a sustainable 12% 13% 8% 1
trend. Nevertheless, even as 2% 2% 2% 3% 6% 11%
0 - Do not trust at all 9%
resale prices were elevated, A resale ticket A secondary A social media
from a ticket- ticket market platform
the desire to attend music seller platform (e.g., StubHub, directly from
events to see artists perform (e.g., Ticketmaster Vivid Seats) another fan
live outweighed those resale Verified Resale,
AXS Official
price concerns and mistrust Not at all A little willing Somewhat Very willing Completely
Resale)
willing willing willing
of secondary ticket markets.
SOURCE: UTA IQ & VARIETY VIP+ LIVE MUSIC SURVEY; NOTE: CONDUCTED SOURCE: UTA IQ & VARIETY VIP+ LIVE MUSIC SURVEY; NOTE: CONDUCTED
ONLINE AUG. 15-24, 2023, AMONG U.S. CONSUMERS 15-69 (N= 1,500) ONLINE AUG. 15-24, 2023, AMONG U.S. CONSUMERS 15-69 (N= 1,500)

P.12
 CREDIT & PAYMENT PLANS

Credit Cards and/or Payment Interest in Credit Cards and/or » With increased demand and
Plans for Ticket Purchases Payment Plans for Ticket Purchases more competitive process of
securing highly sought after
Survey Q: Have you ever done the following?
tickets, more fans are going
Open a credit card specifically
for a concert/music 42% to great lengths to guarantee
Use a payment plan/buy now,
pay later service to afford a 38% festival presale seeing their favorite artists.
live music ticket Thirty-eight percent of live
music attendees have used
a payment plan or BNPL (buy
Open a credit card specifically Use a payment plan/buy now, now, pay later) service, and
for a concert/music 34% pay later service to afford a live 50%
festival presale music ticket 34% have opened a credit
card specifically for a con-
cert/music festival presale.

Preferred Method of Purchasing Tickets for Live Music Events » These trends will likely
continue, as 42% of concert/
30%
30% festival attendees said
they’re interested in — again
or for the first time — opening
a credit card for presale
22%
access. Similarly, half said
20 they are interested in using
18%
a payment plan or BNPL
again or for the first time to
secure tickets.

10%
10 » Those going to concerts and
8%
7% festivals said general on-sale
5% was their most preferred
method for purchasing tick-
ets, followed by not having
a preference at all. Eighteen
General on-sale I don't have a Credit card presale Verified fan access Streaming platform Artist fan club access Radio presale
percent said they opted for
preference/whichever presale
presale is first credit card presale.

SOURCE (ALL): UTA IQ & VARIETY VIP+ LIVE MUSIC SURVEY; NOTE: CONDUCTED ONLINE AUG. 15-24, 2023, AMONG U.S. CONSUMERS 15-69 (N= 1,500)

P.13
 FINDING OUT ABOUT SHOWS

» The digital era has Live Music Event Discovery on Social Media
transformed the way fans Q: On which social media platforms, if any, do you learn of ticketed concerts or festivals?
discover concerts. While 62%
a majority still rely on 52% 50%
traditional methods, such 50% 41%
as word of mouth and 24% 23%
recommendations from 12% 10% 10% 9%
friends and family, more 1%
are moving toward internet
Facebook Instagram YouTube TikTok Snapchat Twitter/X Reddit Discord Twitch I do not Other
searches and social media discover the
for the latest information events via
social media
on shows.

» Sixty percent of those going

to concerts and festivals
said they discover show info
through people they follow
on social media. Of social
media platforms, 62% said
they learn about live events
through Facebook, 52% used
Instagram, 50% YouTube and
41% TikTok.
» Social media has become
a powerful tool for the live
music business, not only for
fans’ discovery of events but
for artists who have made
sharing images from the
Live Music Event Discovery
Survey Q: Select whether you typically learn of ticketed concerts or music festivals in each of these ways
Friends or family telling me about it 73%
From an internet search 64%
From the artist (e.g., their social media, newsletter, website) 61%
From people I follow on social media 60%
Radio promotions 56%
From the venue (e.g., its social media, newsletter, website) 55%
From a ticket seller (e.g., Ticketmaster, StubHub) 54%
Via music streaming platforms 50%
News/press announcements 49%
Banner ads on websites 42%
Billboard or out-of-home/physical advertisement 38%

stage a key part of their act.
As the demand for concerts
grows, social media’s influ-
ence will be a critical part in
that process.
Fan club from the artist 35%
Fan-created group devoted to the artist (not created by the artist) 33%
From a source compiling touring information
30%
(e.g., Bandsintown, Songkick)
SOURCE (BOTH): UTA IQ & VARIETY VIP+ LIVE MUSIC SURVEY; NOTE: CONDUCTED ONLINE AUG. 15-24, 2023, AMONG U.S. CONSUMERS 15-69 (N= 1,500)

P.14
 MUSIC TOURISM

% Who Have Traveled to Attend Live Music Events Maximum Distance Traveled for Live Music Events » As loyal fans plan their lives
39% 19% around seeing their favorite
18% artists, more are willing to
30% 16% travel longer distances to
15% experience them live in
20% 12%
concert. Post-pandemic
pent-up demand has led
10%
10 9% to a boom in music tourism.

Flown within the U.S. specifically Traveled to another country » Half of fans have traveled
5%
for a live music event specifically for a live music event 5 4% four hours or more just to
3%
2% 2% attend a live music event.
Thirty-nine percent have
Live Music Event Travel Habits flown within the U.S. spe-
1 2 3 4 5 6 7 8 9 10 More
hour hours hours hours hours hours hours hours hours hours than
cifically to get to a concert
I’m interested in a vacation 10 or festival, and 30% have
devoted to an artist or festival 37% hours traveled to another country
(e.g., cruise, resort takeover)
for one.
There are certain artists I try to
36%
see every time they tour
Distance Consumers Are Willing to » Some attendees (44%) said
I like to get merchandise from as Travel for Live Music Events they even view live music
26% events as an excuse to travel.
many shows as possible
16% Music tourism has begun
15%
There are certain music festivals 14% propping up some city and
26% 13%
that I try to go to every year state economies as a result.
10% 10%
10% 9% Concertgoers aren’t just pur-
I have ''bucket list'' venues I
25% 7% chasing show tickets, they’re
strive to go to
booking hotels and Airbnbs
3% and hitting local restaurants.
There are certain venues that I 2%
24% 1%
try to go to every year Economists projected that
tours featuring Beyoncé and
Seeing people's social media 1 2 3 4 5 6 7 8 9 10 More
posts at a concert or festival has 23% hour hours hours hours hours hours hours hours hours hours than Taylor Swift contributed to
made me buy tickets 10 roughly $8.5 billion in growth
hours to the U.S. economy in the
None of the above 9% SOURCE (ALL): UTA IQ & VARIETY VIP+ LIVE MUSIC SURVEY; NOTE: CONDUCTED
third quarter.
ONLINE AUG. 15-24, 2023, AMONG U.S. CONSUMERS 15-69 (N= 1,500)

P.15
 MUSIC FESTIVALS

» Two in five respondents said Willingness to Spend on Music Festival Ticket Likelihood of Attending a Music Festival
they anticipate going to a Survey Q: How much would you pay, if at all, for an individual Survey Q: How interested, if at all, are you in attending a ticketed
music festival in the next 12 ticket to a music festival, before fees? music festival in the next 12 months?
months, compared with the 23% 47%
41%
26% who attended one in the
past 12 months and the 31% 20%
17% 10%
15% 2%
who went in 2019.
Not at all Not really Somewhat Very interested
» Fifty-nine percent of 10 9% 9% interested interested
7% 7%
respondents said they liked
4%
when an event was in a 3%
2% 2% 2%
city, and an equal number Music Festival Preferences
of attendees said it was Which do you prefer when choosing a music festival to attend?

More than $1K

Under $50

$50-$100

$101-$200

$201-$300

$301-$400

$401-$500

$501-$600

$601-$700

$701-$800

$801-$900

$901-$1,000
preferable that the event was Please select one option per row.
in close enough proximity
to home to go for a day trip. Camp at a Stay at a hotel
music festival 32% 68% or Airbnb for a
Music preferences were split music festival
between 53% saying they
preferred attending a festival
with a range of genres and Music Festival Ticket Spending Go to a music
festival not 41% 59%
Go to a music
47% saying they would opt festival in a city
Survey Q: What is the most you’ve ever paid for an individual ticket within a city
for one genre. to a music festival, before fees?
21% Attend a music
» Half of festivalgoers have 20%
Travel and stay festival close
17% overnight for a 41% 59% enough to
spent $201 or more on a 16% music festival home to
ticket in the past, and their do as day trips
choice of the maximum 10%
9% Attend a Attend a
they’re willing to spend is 10
7% festival festival with
6% 47% 53%
roughly in line with the maxi- 5% dedicated to artists across a
3% one genre range of genres
mum spent previously. 2% 2% 2%

Attend a multi- Attend a one

More than $1K
Under $50

$50-$100

$101-$200

$201-$300

$301-$400

$401-$500

$501-$600

$601-$700

$701-$800

$801-$900

$901-$1,000

47% 53%
day festival day festival

SOURCE (ALL): UTA IQ & VARIETY VIP+ LIVE MUSIC SURVEY; NOTE: CONDUCTED
ONLINE AUG. 15-24, 2023, AMONG U.S. CONSUMERS 15-69 (N= 1,500)

P.16
 VENUE VALUES

Live Music Event Venue Preferences
Survey Q: Which, if any, of the following are important when it
comes to the venues of live music events?
If it has affordable or
easy parking
If it’s close to my home or
where I will be staying
If it has good sound
quality/acoustics/listening
experience
If I can be close to the
artist/have a good view
If I’ve been to the venue before
and know I like it
If it’s outdoors
Live Music Event Attendance Barriers » Even as most respondents
Survey Q: Which, if any, of the following would keep you from would go out of their way to
attending a live music event? watch their favorite artists
perform live, the survey found
The venue isn’t convenient
42% one of the biggest barriers is
43% to get to
an inconvenient location. Live
Parking isn’t convenient or is
36%
too expensive music attendees said easily
No one is interested in going accessible venues with rea-
30%
40% with me
sonable parking fees were of
The crowds/other attendees 26%
the utmost importance when
Venue only has standing
general admission
25% coming to see a show.
39%
If I can’t get pet care or that is
18%
too expensive » Large-format concerts at
I don’t care about the stadiums and larger venues
14%
34% opening act(s)
have been seeing record
SOURCE: UTA IQ & VARIETY VIP+ LIVE MUSIC SURVEY; NOTE: CONDUCTED
attendance figures this year.
ONLINE AUG. 15-24, 2023, AMONG U.S. CONSUMERS 15-69 (N= 1,500) This summer on Aug. 25,
34% Metallica broke the largest
single-show attendance
Top Grossing Venues Worldwide record at SoFi Stadium in Los
31% With capacity of 15,001 or more Angeles when 85,000 fans
Total # of
Total Gross
zz

Attendance shows came to see the band.

1. MadisonO2
z Arena
Square (London)
Garden (New York) z

$129.2M
$223M 1.49M
1.6M 122
116
If it’s indoors 30% 2. MadisonO2
z Square Garden
Arena (New York)
(London) z

$106.45M
$219.5M 818.16K
2.4M 56
188 » With the introducing of the
Sphere in Las Vegas, which
3. Kia Forum (Inglewood, CA)
zz

$79.32M
$160.4M 586.96K
1.1M 45
93
premiered after this survey
If it’s a venue I've always 4. T-Mobile Arena (Las Vegas) $75.31M
$129.5M 336.88K
560K 27
45
29%
zz

was conducted, it could

wanted to visit
5. Prudential Center (Newark, NJ)
zz

$53.71M
$82.8M 494.25K
721K 64
94 ultimately redefine what
6. z AO Arena (Manchester,
TD Garden England)
(Boston) z

$41.57M
$82.3M 632.53K
674K 64
62 audiences demand from
If the venue has good food and concert venues with regard
28% 7. Qudos Bank Arena (Sydney) $40.23M
$79.4M 386.36K
785K 31
75
drink options zz

to visual preferences, which

8. Capital One Arena
AO Arena (Washington,
(Manchester, D.C.)
England) $34.14M
$76.1M 304.93K
1M 26
102
respondents didn’t even cite
If it’s easy to get a car or 9. State Farm Arena (Atlanta)
zz

$34.12M
$74.2M 321.39K
632K 33
68 in the survey.
27%
rideshare to and from 10. z Amalie Arena
Barclays
z (Tampa,
Center FL)
(Brooklyn) $32.03M
$73.7M 319.85K
623K 35
71

SOURCE: UTA IQ & VARIETY VIP+ LIVE MUSIC SURVEY; NOTE: CONDUCTED SOURCE: SOURCE: BILLBOARD BOXSCORE
SOURCE: NOTE: DATA
SOURCE: COLLECTED
BILLBOARD NOV. 1,
BULLETIN
ONLINE AUG. 15-24, 2023, AMONG U.S. CONSUMERS 15-69 (N= 1,500) NOTE: DATA COLLECTED NOV. 1, 2022-APRIL
2022-SEPT. 30, 2023

P.17
 CONCERTS VS. LIVE EVENTS

» One thing that has not Live Event Attendance Pre-COVID Live Event Attendance in Past 12 Months
changed from pre- to post- % who recall attending any of the following in 2019
pandemic is the primacy Concert 36%
Concert 41%
of a concert in the pecking
order of the many different Food or beverage festival 38%
Food or beverage festival 32%
live experiences available to
Professional sporting event 34%
U.S. consumers. Though the
concert dipped a bit from Music festival 31% Professional sporting event 29%
41% in 2019 to 36% over
Play or theater performance 31%
the past 12 months, many of
those who have gone in the Comedy show 25% Play or theater performance 27%
past year have gone
Gaming or esports tournament 18%
to more concerts and
Fan convention (e.g., BravoCon, Music festival 26%
festivals, and report 15%
Comic-Con)
spending more on them.
TV show screening and Q&A 14%
Comedy show 22%
» What may be most re- Book signing or author
13%
markable about such an appearance

achievement is the concert
experience is probably more
expensive than many of the
live events it outranked, in-
cluding comedy shows (22%),
book signings (13%) and film
festivals (13%), in 2022.
» That probably has a lot to do
with the survey finding that
consumers believe concerts
and music festivals are
Film festival/screening and Q&A 13% Gaming or esports tournament 16%
Podcast taping or host
12%
appearance
Fan convention (e.g. BravoCon,
15%
Comic-Con)
Attitudes About Attending
TV show screening and Q&A 14%
Concerts or Music Festivals
Survey Q: To what extent do you agree with this statement?
Book signing or author
Attending concerts or music festivals is more meaningful to me appearance
13%
than other types of live events and experiences.
Agree completely 18%
Film festival/screening and Q&A 13%

more meaningful than other Agree very much 25%

types of live experiences, as Podcast taping or host
Agree somewhat 28% 12%
many stated they have deep appearance
emotional connections to Agree a little 18%
such events. SOURCE (ALL): UTA IQ & VARIETY VIP+ LIVE MUSIC SURVEY; NOTE: CONDUCTED
Do not agree at all 10%
ONLINE AUG. 15-24, 2023, AMONG U.S. CONSUMERS 15-69 (N= 1,500)

P.18

How Music Listeners Engage With Live Music
9%
Live Fanatics
Have gone to a concert/
festival in the past year, plan
on going again next year, and
spend more than $100/
month on concerts/
festivals
LISTENING TO LISTENERS
18%
Live-Goer
but Not Fanatic Haven’t gone to a concert/
Have gone to a concert/ festival in the past year, but
festival in the past year
intend to in the next
» Non-attenders are roughly
half as likely to strongly
agree that their friends turn
25% 48%
to them for recommendations
on new products/music/mov-
ies, etc. and half as likely to
Live Hopefuls Non-Attenders strongly agree that they have
Haven’t gone to a concert/ an influence on their friends’
festival in the past year, and
lifestyle choices.
don’t plan to in the next
» Live hopefuls are 40% more
likely to “strongly agree” that
they “listen to music to stay
plugged into popular culture
and the broader world of
entertainment.”
» Live-goers but not fanatics
are +34% more likely to
agree they listen to music to
participate in the community/
fandom it provides.
» Live fanatics are 31% more
likely to strongly agree
that they are “interested in
discovering new/emerging
music artists.
SOURCE: LUMINATE’S US MUSIC 360 SURVEY
(INTERVIEWS COLLECTED IN JULY 2023)
P.19
 REPEAT BUSINESS

» Most people are going to Duration Before Returning to See Same Artist Change in Concert Attendance in
concerts just as often, if not Survey Q: Approximately how soon after a live music event you Past 12 Months vs. Pre-COVID
more often, than they were enjoyed would you want to see that same artist again? Please Survey Q: Compared with pre-pandemic, would you say your
pre-pandemic: “increased” select one attendance of concerts in the past year has ...
(22%) + “stayed the same” 42%
(51%) = 73%. Repeat atten- 24%
16% 13%
dance has also been strong, 5% Increased (22%)
with nearly four out of five
On the same The next time A few tours or After they’ve I don’t need to
concertgoers saying they’ve tour if possible they announce years later released new see them
seen the same artist in per- a tour music again
Stayed the same
son more than once. (51%)
SOURCE: SOURCE: UTA IQ & VARIETY VIP+ LIVE MUSIC SURVEY; NOTE:
CONDUCTED ONLINE AUG. 15-24, 2023, AMONG U.S. CONSUMERS
» Of the 79% who said they 15-69 (N= 1,500) Decreased (27%)

have seen the same artist

more than once, 59% have
seen the same artist four SOURCE: UTA IQ & VARIETY VIP+ LIVE MUSIC SURVEY; NOTE: CONDUCTED
or more times. On average, Repeat Frequency of Live Music Event Attendance ONLINE AUG. 15-24, 2023, AMONG U.S. CONSUMERS 16-69 (N=2,992)

fans have watched the same
artist perform an estimated
5.3 times maximum, with 10
percent of musicgoers saying
they have seen the same
artist live more than 10 times.
» Never underestimate the
insatiability of loyal fans:
Attendees were most likely
to want to see an artist again
the next time they announce
a tour (42%), while nearly one
in five (16%) would go on the
same tour if possible.
Survey Q: You mentioned you’ve seen an artist perform
live in person more than once. What’s the most
you’ve seen any one artist? Repeat Live Music Event Attendance
1 2% Survey Q: Have you seen any artist perform live and in person
2 19%
more than once?
3 20%
No (21%)
4 12%
5 9%
6 7%
7 7%
8 6%
9 4%
10 4% Yes (79%)
More than 10 10%

SOURCE: UTA IQ & VARIETY VIP+ LIVE MUSIC SURVEY; NOTE: CONDUCTED SOURCE: UTA IQ & VARIETY VIP+ LIVE MUSIC SURVEY; NOTE: CONDUCTED
ONLINE AUG. 15-24, 2023, AMONG U.S. CONSUMERS 15-69 (N= 1,500) ONLINE AUG. 15-24, 2023, AMONG U.S. CONSUMERS 16-69 (N= 1,500)

P.20
 LOOKING AHEAD

Anticipated Future Music Festival Attendance Anticipated Future Concert Attendance » Down the road, the
Survey Q: Compared with the past year, your attendance at music Survey Q: Compared with the past year, your attendance over the momentum from this year’s
festivals over the next 12 months will ... next 12 months of concerts will ... live-music demand appears
Increase 40% Increase 51% poised to continue. More than
Stay the same 49% Stay the same 41%
half of all U.S. consumers
age 15-69 anticipate going
Decrease 11% Decrease 8%
to a concert in the next 12
SOURCE: UTA IQ & VARIETY VIP+ LIVE MUSIC SURVEY; NOTE: CONDUCTED SOURCE: UTA IQ & VARIETY VIP+ LIVE MUSIC SURVEY; NOTE: CONDUCTED months, which is higher than
ONLINE AUG. 15-24, 2023, AMONG U.S. CONSUMERS 15-69 (N= 1,500) ONLINE AUG. 15-24, 2023, AMONG U.S. CONSUMERS 15-69 (N= 1,500) the 36% who attended in the
past 12 months or the 41%
who went in 2019.
Future Intent to Attend Live Event Future Intent to Attend Live Event
% in each category who think they will go to the following % who think they will go to the following types of events in the » Forty percent of music
events in the next 12 months next 12 months festival fans anticipate
Attended Concert 51%
Attended Attended going to one in the next 12
Attended Music
Music Concert(s) months, which is higher than
Concert(s) Festival(s) Food or beverage festival 46%
Festival(s) past 12
in 2019 past 12 the 26% who have been in
in 2019 months
months the past 12 months or the 31%
Music festival 40%
Concert 83% 80% 86% 79% who went in 2019.
Professional sporting event 39%
Music festival 62% 75% 66% 79%
Comedy show 50% 56% 55% 60% Play or theater performance 34% » Future intent to attend live
Podcast taping or host music events remains even
23% 30% 27% 36% Comedy show 33%
appearance more elevated among those
Fan convention (e.g. BravoCon, who already did so in the
30% 36% 32% 42% Gaming or esports tournament 20%
Comic-Con)
past 12 months and in 2019.
Book signing or author Fan convention (e.g., BravoCon,
26% 32% 29% 36% 19% Eighty-six percent of those
appearance Comic-Con)
TV show screening and Q&A
who attended concerts and
25% 32% 27% 38%
Book signing or author
17% 79% of those who went to
Film festival/screening and Q&A 27% 35% 30% 39% appearance
music festivals in the past 12
Food or beverage festival 64% 69% 64% 71% Film festival/screening and Q&A 17% months plan to visit again in
Professional sporting event 58% 59% 61% 62% the next 12 months.
TV show screening and Q&A 15%
Gaming or esports tournament 30% 39% 33% 46%
Podcast taping or host
Play or theater performance 52% 55% 54% 60% 14%
appearance
SOURCE: UTA IQ & VARIETY VIP+ LIVE MUSIC SURVEY; NOTE: SURVEY WAS
SOURCE: UTA IQ & VARIETY VIP+ LIVE MUSIC SURVEY; NOTE: CONDUCTED CONDUCTED ONLINE BETWEEN AUG. 15-24 AMONG U.S.
ONLINE AUG. 15-24, 2023, AMONG U.S. CONSUMERS 15-69 (N= 4,036) CONSUMERS AGES 15-69 (N= 2,992)

P.21
INCISIVE
ANALYSIS.
VARIETY
INTELLIGENCE
PLATFORM
A subscription service for the business of media

S U B SC R I B E TO DAY variety.com/introducingVIP
More Special Reports from Variety

© 2024 VARIETY MEDIA, LLC. VARIETY, VARIETY INTELLIGENCE PLATFORM AND THE FLYING V LOGO ARE TRADEMARKS OF VARIETY MEDIA, LLC. ALL RIGHTS RESERVED. THIS REPORT IS FOR PERSONAL USE BY THE SUBSCRIBER ONLY. NO PART OF THIS REPORT MAY BE REPRODUCED,
DISTRIBUTED OR DISPLAYED IN ANY MANNER OR MEDIUM WITHOUT THE WRITTEN PERMISSION OF VARIETY MEDIA, LLC. FOR CONTENT LICENSING, EDITORIAL RE-USE REQUESTS OR CUSTOM EPRINTS OR REPRINTS, PLEASE EMAIL US AT LICENSING@VARIETY.COM. VARIETY MEDIA, LLC
MAKES EVERY REASONABLE EFFORT TO ENSURE THAT THE INFORMATION IN OUR REPORTS IS CORRECT. WE ASSUME NO RESPONSIBILITY FOR INADVERTENT ERRORS. VARIETY INTELLIGENCE PLATFORM CONTENT IS FOR INFORMATIONAL PURPOSES AND IS NOT INTENDED TO SUBSTI-
TUTE FOR THE ADVICE OF A LICENSED OR CERTIFIED ATTORNEY, ACCOUNTANT, FINANCIAL ADVISOR OR OTHER CERTIFIED FINANCIAL PROFESSIONALS.