Christopher BarrettThe value of the global live music industry is predicted to rise 10% in 2025, on the back of 4.4% growth last year, according to Goldman Sachs.
It predicts live music revenues will be worth $67.1 billion in 2035, up from $34.6bn last year, and an expected $38.2bn in 2025.
The bank’s influential Music in the Air report estimates that the global music market (across recorded music, publishing, and live) will nearly double in value from $104.9bn in 2024 to $196.8bn by 2035, with live playing a huge role in that gain.
The report claims that Millennials and Gen Z fans will play a significant part in the uplift in expenditure on live music, as they place a higher relative importance on live experiences versus prior generations. Their expenditure on live is predicted to rise in line with a hike in their income, wealth and spending power over the next several years.
Goldman Sachs has upped its long-term outlook for the live music sector, and is now forecasting a 7.2% compound annual growth rate between 2024-2030, up from 6.7% previously.
The analysts said they expect to see a robust demand and supply outlook for the live music industry with upside from increased integration of live music ticketing with streaming services.
According to the report, the live music industry should benefit from an increasing supply of diverse and popular artists touring over the next decade driven by stronger financial incentives to tour as tours make up a higher percentage of artist income.
Analysts stated that the live music sector has “proven to be more recession resilient than other forms of entertainment” and that average ticket prices for stadium shows had risen 40% between 2019 and 2024, while club show ticket prices had risen 37% during the same period.