Which music tours in North America are the most successful? 5% is what the esports sector is worth compared with the music business. Watch this space…, $243 million is how much streamed Latin music brought in from the US market alone in 2017, an increase of 37% over 2016, according to the Recording Industry Association of America’s 2017 year-end report on Latin music. The latest edition of PwC’s respected annual review of the planet’s entertainment industries, the Global entertainment and media outlook 2018–2022, reveals live music revenues – ticket sales plus sponsorship – will increase at a compound annual growth rate (CAGR) of 3.3% from 2018 to 2022, reaching $30.55bn ($24.36bn of it from ticket sales) in 2022. You will receive a link to reset your password. As highlighted by Citi Research, live events keep increasing both in Europe and in the US. It’s that esports business owners want more music, according to this Forbes article, which explains “Why the Intersection of Music and Esports is Bigger Business than Ever”. In the recorded sector, meanwhile, streaming continues its inexorable march towards dominating consumption, with physical sales and downloads projected to slide by -9.6% and -23%, respectively. Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news. In accordance with Article "Privacy and Data Policy" of the Rules and the Organiser"s Privacy Policy, as well as the California Consumer Privacy Act Notice, this data is processed by Reed MIDEM, for the purposes of (i) carrying out its contractual obligations: fulfilling request for information or content, registration, Online Database, or for (ii) newsletter, promotional communication or promotional analysis. “This means going above and beyond in how they envision their business, generate revenues, create and organise their capabilities, and build and retain trust. Global recorded-music revenues grew by 9.7% in 2018, according to industry body the IFPI. Total music industry revenue for 2018 was at $9.8 billion, up from $8.8 billion in 2017 and $7.6 billion in 2016. (In the UK, according to collection society PRS for Music, the switch happened in 2008, with North America following suit a few years later.) Japan’s live music industry saw its revenues grow to more than $3bn (£2.3bn/€2.7bn) in 2018, lifted by increased attendances for local acts and higher ticket prices. As evidenced by the biggest tours of 2017, when U2, Guns N’ Roses, Metallica, Depeche Mode, Paul McCartney and the Rolling Stones took six of the ten top spots, heritage acts are still doing the biggest business. Which explains why music stars like Drake, Steve Aoki, Jennifer Lopez and Imagine Dragons already own stakes in esports leagues, and Universal Music Group currently has two active esports ventures. Standing still is not an option.”. Brant David McLaughlin has been a professional writer since 2005. Live Music Trends. UK Music pointed out that while record companies and the biggest stars were thriving, the average musician was struggling to make a living. The outfit says it is scouting additional locations.”. You may exercise your right to access, obtain, correct and oppose the use of your personal data by writing to: privacy center. In addition to the industry’s direct economic contribution, music tourism alone contributed £4.7 billion in terms of spending to the UK economy in 2019 - up 6% from £4.5 billion in 2018. Live Nation outperformed its own forecasts in the first quarter of 2018, with its revenues up by 19% year-on-year, and more than 50 million tickets sold globally for 2018 shows so far. What’s the significance of comparing and contrasting those numbers? The British live music industry had a solid, if unspectacular, 2017 – contracting slightly from the record high of £1 billion gross value added (GVA) seen in 2016 to deliver an economic boost worth £991 million last year, according to the latest UK Music Measuring Music report.. Alex Rodriguez, who runs Pro Talent Agency, explains Latin music’s new-found commercial dominance: “I think the fusion between reggaetón and Latin pop made a connection with the general public.” And Vanessa Jester, senior vice president of finance at Warner Music Latin America, remarks, “Latin music now travels all over the globe, thanks to new technology.”, Over $2.87 billion is how much total revenue was brought in by Sony Music in the first nine months of 2018, thanks to artists like Travis Scott, according to Music Business Worldwide. Live music ticket sales revenue will grow from $7.2 billion U.S. dollars in 2015 to $9.1 billion in 2021, ... has expanded access to what amounts to a new music industry. excellent Guardian article on the ever-increasing importance of original music in TV shows, Independence and Music Industry Evolution – Exclusive White Paper, Mapping the Covid impact on the music industry. Streaming music revenues, in … According to a new industry report, global recorded music revenues jumped 9.7 percent in 2018 to reach $19.1 billion — up from $17.4 billion in 2017. Music industry evolve everyday from CD to streaming this video shows the music industry revenues evolution from 2000 to 2018. The headline figure is $19.1bn: that’s the total revenue for recorded music last year, up from $17.4bn in 2017. It is important to note that the information presented in this page only accounts for revenue generated from the recorded music industry (recorded music and auxiliary revenues generated by these recordings), and is not reflective of the entirety of the music industry including sectors such as publishing, live music, etc. Around 80% of live revenue comes directly from ticket sales, while brand sponsorships and merchandise generate another 20%. “Worldwide music tours remain dominated by big-hitting, mature artists”. Such data is stored for a maximum duration of 3 years or 10 years if the present accreditation is completed. Revenue from CD sales, conversely, saw a 37% decrease on the previous year, continuing a sharp decline. The U.S. music industry grew 11.9 percent to $9.846 billion in 2018 from the $8.797 billion tallied in 2017, thanks to continuing explosive growth from streaming, which jumped 30.1 percent to … Streaming created 75 percent of music industry revenue in 2018. International Live Music Conference (ILMC), As evidenced by the biggest tours of 2017, took its format to Portugal for the first time, First Dance Music Conference set for Dubai, Music + Rugby to bring live music to UK stadia, Shannon Noll appointed ambassador for live music, UMG to produce virtual-reality live music, More funding for Canadian live music industry, UK gov backs £330bn of loans for businesses. According to PwC, the 2022 gap will be to the tune of $7bn+, with streaming revenues worth $23.36bn. I'd like to hear about marketing opportunities, I accept IQ Magazine's Terms and Conditions and Privacy Policy, The global live music industry will continue to grow steadily over the next four years, with music streaming and esports also booming, according to the latest PwC Outlook, U2’s Live Nation-promoted Joshua Tree 2017 tour was last year's most successful, grossing $316m. Streaming services bring in an astounding 84 percent of Latin music generated revenues. Global Music Market 2018 in Numbers +32.9% Growth in paid streaming revenues +9.7% Global revenue growth 46.9% Streaming share of global revenues +34.0% Growth in overall streaming revenues -10.1% Physical revenue decline-21.2% Download revenue decline 6 GB MSIC MET I MBES IFPI GLOBAL MUSIC REPORT 2019 STATE OF THE INDUSTRY According to a 2020 study exploring the global music industry, worldwide live music sponsorship revenues will amount to 6.28 billion U.S. This report, published in February 2018, sets out the findings of the census. Alex Darus - March 4, 2019 . IQ publishes a regular magazine, several annual reports, and a daily news digest, IQ Index. The Global Entertainment & Media Outlook 2019–2023, the just-released 2019 update to the consulting firm’s respected annual Outlook report, finds live music ticket sales will increase at a compound annual growth rate (CAGR) of 3.33% from 2018 to 2023, from $21.256bn (projected) in 2018 to … The IQ family also includes ILMC, the live music industry’s top international conference event, and the International Festival Forum (IFF). Music streaming, by contrast, will grow at a CAGR of 18% over the next four years. The recorded music industry was worth $19.1 billion in 2018, which was almost a double-digit gain (9.7%) from the year prior, when the global business only rose by 7.4%. Its annual Global Music Report, which is published today, reveals that strong growth in streaming revenues more than made up for the continued decline in sales of CDs and music downloads.. Save my name, email, and website in this browser for the next time I comment. Today, in the age of streaming, live performances are the way that most music artists generate any significant income, giving incentive to music labels to rethink every aspect of their business. Mexico’s BPM Festival also is in expansion mode, and last year took its format to Portugal for the first time. This convergence, it says, is “creating an ever-expanding group of ‘supercompetitors’ and specialised, niche brands that are striving to secure the engagement and spending of increasingly demanding consumers” – who “reject one-size-fits-all content experiences. IQ’s news, features, information and analysis is read by 100,000 professionals worldwide each month. IQ is the leading global news platform for the live music business. Why? “The appeal of the live experience endures”. And given the pace and scale of change under way, speed is vital. Revenues from streaming grew to $8.9 billion in 2018 – a growth of 34% compared to 2017 – to become the industry’s primary digital revenue stream (2018). Live music revenues to top $30bn for first time The global live music industry will continue to grow steadily over the next four years, with music streaming and esports also booming, according to the latest PwC Outlook By Jon Chapple on 26 Oct 2018 U2’s Live Nation-promoted Joshua Tree 2017 tour was last year's most successful, grossing $316m $31 billion is how much the live music industry is projected to be worth by 2022, representing a compound annual growth rate (CAGR) of 3.3%, according to a newly published research paper from Pricewaterhouse Coopers (PwC). In addition, the combined gross of the top 10 of Pollstar’s Worldwide Top 100 surpassed $2bn for the first time ever. It’s already the middle of Autumn. The conference, at Dubai's Pacha spin-off, will tackle promoting a great dance event, owning a club, promotion on social media and more, The new venture by Music + Sport, also behind Cricket Live and The Jockey Club Live, will launch with Jess Glynne at Kingsholm Stadium in June, The Australia Idol contestant will front a new $150,000 fund for regional NSW micro-festivals, A partnership with radio giant iHeartMedia will see live performances by four Universal artists shot in VR, Canadian government announces increases of CAN$16m and $20m for national arts, music and cultural funds, in a move applauded by the Canadian Live Music Association, Music venues and other businesses in the leisure and hospitality sector are set to benefit from a business rates exemption and cash grants under new government measures. © 2020 International Live Music Conference Ltd. Sony has told its shareholders that total sales revenues are now expected to beat the previous forecast because of “the expected impact from the consolidation of EMI and the strong performance of the mobile gaming application Fate/Grand Order.”. Drawing primarily on Citi and PwC estimations, the total revenue of the live industry can be put at around $9,5 billion. The live music industry has achieved a record year in 2018 with more than 152.1 million tickets sold and total gross of more than $10.4bn (£8.2bn/€9.1bn), according to Pollstar.. That’s $158 million (5.8%) more over the same period one year earlier. In fact, figures estimate the latter might record around $11.06 billion in revenue this year, which is surprising when compared to 2014’s $9.06 billion and streaming’s $ 3.66 billion. The RIAA released its semiannual compilation of recorded music revenues this week. The report also suggests the barriers between different forms of entertainment are beginning to break down (a phenomenon dubbed ‘Convergence 3.0’), with greater synergies between live events and sectors such as ecommerce, licensing and consumer products. In case, unsatisfied answer to your request, you may rise a complain before the French National Data Protection Authority (Commission Nationale Informatique et Libertés or CNIL) www.cnil.fr. “To succeed in the future that’s taking shape, companies must revisit every aspect of what they do and how they do it,” says Christopher Vollmer, global advisory leader for entertainment and media at PwC US, commenting on the Outlook’s findings. The total export revenue of the music industry was £2.9bn, up from £2.7bn in the previous year. At the behest of best-selling author Gina Smith, he began writing long-form journalism in January, 2014. IQ Magazine uses cookies to give users the best experience on our website. The forecast predicts a peak in 2021: $9.55 billion. Artist Bernadette Carroll is more used to 23,000 streams per song, points out music supervisor Matt Biffa in this excellent Guardian article on the ever-increasing importance of original music in TV shows such as Killing Eve, Skins, Sharp Objects and more. Outside of rock and pop, “electronic dance music (EDM) continues to draw large crowds,” the report continues. He lives in the rustic town of Milford, New Jersey. Let’s run down the season’s key stats! “These events are expanding internationally. Total revenue from recorded music in the retail sector hit $9.8 billion over the course of the 12 months of 2018, a 12% increase on 2017's figures. Live music ticket sales revenues will break the $9 billion mark in 2020, generating an expected $9.1 billion. The music industry’s digital revenues (including streaming) grew by 20,4% in 2018, to $11,2bn (2018). “For many companies, the models, assets, practices and capabilities that support their businesses today will simply not be enough in the future. By. Even with that growth, however, streaming will still fall short of reversing the events of the last decade, when live shows overtook recorded music as the chief generator of music revenues. The UK music industry contributed £5.2bn to the British economy in 2018 The live music sector made a contribution of £1.1 bn – up 10% on 2017’s £991 million Employment in the industry hit an all-time high of 190,935in 2018 The total export revenue of the music industry was £2.7bn in 2018. In 2016, Luke Bryan’s tour, which sold nearly 1.43 million tickets, held the title. “As a result, it’s vital for companies, ranging from supercompetitors to fan-focused niche players, to use data analytics and AI to personalise their offerings. In 2018, live music generated 479 million euros in revenue, increasing slightly from the previous year. That’s $158 million (5.8%) more over the same period one year earlier. In 2018 and 2019, the forecast predicts revenues to reach $8.16 billion and $8.59 billion respectively. IMS Business Report 2018 by Kevin Watson, Danceonomics.com 3 Note: * Total volume = Albums + TEA + On-Demand Audio SEA Source: Nielsen 2017 & 2016 Year-End Music Reports, IFPI Global Music Report 2018 4% • Electronic share of recorded music fell in 2017 in the two biggest N. American markets • However this was against a backdrop of … Since 2006, worldwide music industry revenues have been more than $60 billion each year. And the appeal of the live experience endures.”. Because the in-game experience yields merely one of several ways in which esports companies can invest meaningfully in music and vice versa. , saw a 37 % decrease on the previous year compared to 25 % for physical sales ( 2018.... 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