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Rocketing to the Top of the Charts

Rocketing to the Top of the Charts. The Top-100 North American concert tours of 2017 grossed $3.6 billion, a 7.3% increase from 2016, and a new all-time record. The Top-100 tours set a new record for tickets sold, 46.23 million, a 6% increase. Average ticket prices increased 3.1%, to $78.93.

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Rocketing to the Top of the Charts

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  1. Rocketing to the Top of the Charts • The Top-100 North American concert tours of 2017 grossed $3.6 billion, a 7.3% increase from 2016, and a new all-time record. The Top-100 tours set a new record for tickets sold, 46.23 million, a 6% increase. Average ticket prices increased 3.1%, to $78.93. • The Top-100 Worldwide tours generated $5.65 billion in sales, increasing 15.8% from 2016’s $4.88 billion, and topping 2013’s record of $5 billion. More tickets were sold (66.79 million), a 10.4% increase, compared to 2016’s 60.49 million. • During 2017, U2 had the highest grossing worldwide tour, at $316 million, and its North American segment was the top moneymaker, at $176.1 million. There were 11 global tours that generated more than $100 million, compared to seven during 2016.

  2. 2018 Concert Outlook • In addition to the Baby Boomer acts that have been selling out stadiums for decades, 2017 saw acts that were new to arenas, including The Weeknd, Ariana Grande and Kendrick Lamar. Other up-and-comers are Shawn Mendes, The Chainsmokers and Future. • Ticket sales for major North American concerts have been steadily increasing since 2000 when they were approximately $1.7 billion to 2017 when they reached approximately $8.0 billion. This was a 9.6% increase from 2016. • During 2010, Ticketmaster and Live Nation merged. During April 2018, the US Justice Department started investigating Live Nation for possibly antitrust law violations.

  3. Top Musical Venues • In the Top 100 Arenas category, as measured by 2017 worldwide ticket sales, there were three US arenas, an increase from one during 2016. They were Madison Square Garden (NY) at #2, Barclays Center (NY) at #5 and Forum (CA) at #9. • In the Top 100 Amphitheaters category worldwide, all of the top 10 spots were in the US. BB&T Pavilion in Camden, NJ was #1, Red Rocks Amphitheatre in Morrison, CO was #2 and Ruoff Home Mortgage Music Center in Noblesville, IN was #3. • Six of the top 10 theatre venues worldwide for 2017 were in the US, led by Radio City Music Hall in New York, The Axis at Planet Hollywood in Las Vegas, the Fox Theatre in Atlanta and Durham Performing Arts Center in Durham, NC.

  4. Concert Tours for 2018 • Beyoncé’s and Jay-Z’s “On the Run II Tour” will begin in the UK, June 6, 2018, travel through Europe and conclude in North America July 25–October 4, 2018. • Country singer Luke Bryan’s “What Makes You Country Tour” is starting in Texas May 5th, with North America performances until October 26th. Bruno Mars is continuing his “24K Magic Tour,” September 7th through October 27th in the US. • Taylor Swift’s “Reputation Tour” encompasses the US, Europe and Australia, from May 8th through October 6th in the US, with international dates to be announced.

  5. New Trends in Live Music Events • There is a trend among music festival producers to include more female performers in their line-ups. A 2017 Pitchfork study of almost 1,000 festivals found 74% of the acts were male, 14% female and 12% mixed gender or non-binary members. • Festival organizers are involving fans in the organization of events, sharing preparations with them and asking for feedback on décor, merchandise and even which songs the acts should play. This generates anticipation and engagement. • Event producers will be including immersive experiences in addition to the music, to include live actors, scent marketing and sets leading to the stage. Sound will be upgraded to 3D audio, like Google’s ambisonic technology.

  6. Festivals Hit a Sour Note • More than 32 million people attend US music festivals each year, however, 2017 festivals generated less revenues than 2016 festivals. The top 5 2016 global festivals grossed $336.3 million compared to $194.2 million for 2017, a 42.2% decrease. • Live Nation (60+ festivals) and AEG (11 festivals) dominate the festival space. Experts explain consolidation has created uniformity, with many of the same acts performing at multiple festivals. This creates “festival fatigue” and lower attendance. • Featured festivals during summer 2018 include Bonnaroo, June 7–10; Warped Tour, June 21–Aug. 5; Pitchfork Music Festival, July 20–22; and Lollapalooza, Aug. 2–5.

  7. Advertising Strategies • Showcase your event’s and artists’ dedication to specific causes in addition to any actions they can take during the event. • Incorporate fun activities for attendees, such as arts and craft booths to make flower crowns or headbands. Highlight these activities in your advertising. • Emphasize the commonality among attendees, so prospective attendees can feel like they are part of a community. Give a unique name to your attendees/fans like Justin Bieber’s “beliebers.”

  8. New Media Strategies • Provide concert- and festival-goers access to an interactive area on your Website where they can talk to each other and learn about issues that are important to them. • Sponsor a Snapchat filter for your event. • Share preparation details of the concert or event on your Website, in addition to exclusive interviews with the performers. Post polls/surveys asking attendees to choose different activities, songs and set design ideas for the event.

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