Live music's resurgence is fueled by strong demand and supply tailwinds. In 2023, the live music industry grew 25% year-over-year, driven by a robust schedule featuring artists who had not toured since pre-Covid, which increased both attendance and pricing power due to perceived scarcity of these artists. This growth demonstrates the resilience of concert spending despite economic pressures on consumer wallets[1].
Moreover, long-term demand for live entertainment is supported by demographic trends and increased social value attributed to live events, especially among younger generations like Gen Z and Millennials. Companies like Live Nation noted durable consumer demand trends, indicating that ticket sales remain strong even in uncertain economic times[1].
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