Revenue from livestreaming festivals and concerts could reach £160m per year in the UK, according to YouGov research.
The survey of 2,000 consumers in the UK and the same number in the US found 29% of respondents would stream a live performance of their favourite acts and that 33% would be willing to spend more than £20 on a ticket, with the overall average being £18.09.
The research, commissioned by streaming services company Push Live and carried out in April, also found 27% of respondents aged more than 55 are interested in streaming live performances and would be willing to pay more than any other age group (£19.36) to do so.
YouGov said those aged 25-34 (33%) and 45-54 (31%) were the most likely to pay to livestream a show by their favourite bands and artists.
Some 67% of people in the UK attended at least one live event per year before the pandemic and 23% went to more than six a year, according to the research. It also found the top three reasons for respondents not attending events before the pandemic were ticket prices (49%), travel costs (33%), and family/work commitments (26%).
Push Live founder Phil Tucker said, “The industry has made the first tentative steps into livestreaming this year but by embracing the medium fully, alongside in-person events, the benefit will be enormous and is likely only to grow.
He said the live sector needs to learn lessons from the past year to ensure it is on a more resilient footing for the future: “Not everyone will rush back to in person events and there is still the risk that these shows will be cancelled in the months ahead. Live streaming, alongside physical events, gives musicians and event organisers the opportunity to earn extra revenue, provides an insurance policy against the cancellation of physical shows, and can help reach people who might otherwise stay at home and not get the chance to watch their favourite acts perform.”
Among the events Push Live has been involved in livestreaming are EDC Mexico (pictured), DNC 2020, Glitchcon 2020, Boiler Room, Def Comedy Jam, Gorillaz: The Now Now, and Beatport Reconnect.