Photo: Taylor Swift | According to a recent Pricewaterhouse Coopers International (PwC) study, the global live music industry is set to exceed its pre-pandemic performance this year.
The Global Entertainment & Media Outlook 2023–2027 report reveals that live music ticket sales are projected to reach $23.0 billion in 2023, surpassing the $21.5 billion generated in 2019, the last year before the global outbreak.
After experiencing a significant decline to $5.4 billion in 2020, a gradual recovery to $10.2 billion in 2021 and $20.3 billion in 2022, the live music sector is predicted to continue growing steadily.
The study forecasts continuous live music revenue growth throughout the forecast period, with an estimated $25.6 billion expected in 2027. Additionally, live music sponsorship is anticipated to reach the 2019 figure of $5.7 billion by 2024 and increase to $6.1 billion in 2027. Moreover, the combined revenue from live music and cultural events is projected to surpass the $66.6 billion mark achieved in 2019 by 2024.
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Read the full story here:
https://celebrityaccess.com/2023/07/05/global-live-music-revenue-surpassing-pre-covid-levels-in-2023/
[Thanks to Alex Teitz for contributing this article! http://www.femmusic.com]
Global Live Music Revenue Surpassing Pre-Covid Levels In 2023
