2. Kevin Westcott, Deloitte’s US leader of telecommunications, media, and entertainment, explores the biggest media trends for 2020—from content re-aggregation and ad-supported video to esports and 5G. Let us assume that the entertainment component of eating out is 50% of restaurant revenues: that is, for entertainment reasons, people are willing to pay twice as much for food as they would have to pay if they ate at home. Music and radio are another important sector of the entertainment industry. 1. The total U.S. industry market size for Arts, Entertainment & Recreation: Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size. The live music and entertainment sector underwent significant changes and consolidation in 2019 - even before the onset of COVID-19 and its devastating impact on this part of the industry. Since 2006, worldwide music industry revenues have been more than $60 billion each year. Market Size & Industry Statistics. Who doesn’t like going to a concert? This experience just cannot be replicated by anything else. People love listening to their favorite records at home, but investing in a musician or a band and going to a live event provides a valuable social experience. Another is the fact that there is such a wide variety of musical styles that anyone can find something they like. 2. Takeaway: Music is something that people can live without, but can you truly live without music? In an earlier posting, ... First, people need to eat to live. Live music has been about 33% of these total revenues each and every year. This list may not reflect recent changes (). DTTL and each of its member firms are legally separate and independent entities. As the streaming wars intensify, can consumers expect to see more diverse on-demand options in the year ahead? Posted on February 13, 2019 February 19, 2019 Author Jenn Shuron. AEG Presents bought a 50 percent stake in Michael Gudinski’s Frontier Touring Company and, separately, Michael Chugg’s Chugg Entertainment forming a joint venture with Frontier. A podcast by our professionals who share a sneak peek at life inside Deloitte. It might be a bit of a grind to get out on the road and do a show or two every day, but there is no better way to really get exposure for an artist’s music. Fun is no joke when it comes to household budgets. Since 2006, worldwide music industry revenues have been more than $60 billion each year. 3. From Disabled and $500k in Debt to a Pro Blogger with 5 Million Monthly Visitors, 9 Fascinating Live Music Industry Statistics, "From Disabled and $500k in Debt to a Pro Blogger with 5 Million Monthly Visitors. 3. PwC’s Global Entertainment & Media Outlook provides a single comparable source of consumer and advertiser spending data and analysis. Ticket prices are going up, but revenues are equaling out and staying fairly consistent thanks to VIP packages, backstage tours, and other unique events that have been added recently to the live music industry. UK Event Industry Facts & Stats. This box/component contains JavaScript that is needed on this page. Last year, the live concert industry generated 16% more revenue over 2016, bringing in $5.7 billion. The following outline provides an overview of and topical guide to entertainment and the entertainment industry: . Certain services may not be available to attest clients under the rules and regulations of public accounting. Entertainment & Media in the UK set to rebound from the COVID-19 slowdown. The number of jobs sustained by music tourism was 45,530 last year, a record high, with overall employment in the music industry also at an all-time high of 190,935. Companies in this industry sector produce or promote live entertainment and other events, operate amusement and leisure activity facilities, or preserve and exhibit objects and … © 2020. Social login not available on Microsoft Edge browser at this time. Please see www.deloitte.com/about to learn more about our global network of member firms. The bank U2 has two of the top 5 all-time grossing music tours, generating over $1 billion in revenue combined. Photo credit: Vibrant Emotional Health 2018 Annual Report. ... Gaming is another big revolution in the UK and has garnered a record high audience according to YouTube’s viewer statistics. With growing concerns over the virus' spread, the entertainment industry is bracing itself. View our latest COVID-19 Outlook on the Media and Entertainment Industry What to watch: The streaming wars As major networks and studios continue to launch their own direct-to-consumer streaming services in 2020, competitors will likely scramble to offer content libraries broad enough to both attract and retain customers. Most (41%) marketers believe that events are the single-most effective marketing channel over digital advertising, email marketing and content marketing. The live music industry will always be around because of the social desire to sing a favorite song created by a favorite band with others who feel the same way. Taking action against systemic bias, racism, and unequal treatment, Key opportunities, trends, and challenges, Go straight to smart with daily updates on your mobile device, See what's happening this week and the impact on your business. Live and recorded music sales are rising, and digitally recorded music is expected to grow just under $1 billion in 2019. Discover Deloitte and learn more about our people and culture. Fullwidth SCC. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the "Deloitte" name in the United States and their respective affiliates. Workforce Statistics. Get up to speed on any industry with comprehensive intelligence that is easy to read. Please enable JavaScript to view the site. Leisure time has been a determining factor in the development of recreation and entertainment as an industry. The average community in the United States has at least one live music event playing at least one day per week, no matter what the size of the community happens to be. Pink Floyd is a very close second. Regardless of how you influence business decisions, the Outlook can help you understand industry trends so you can capitalise on … The average ticket price in 2012 was $85.93, or $20 more than it was just three years before. 2020 Media and Entertainment Industry Outlook has been saved, 2020 Media and Entertainment Industry Outlook has been removed, An Article Titled 2020 Media and Entertainment Industry Outlook already exists in Saved items. Kevin is a vice chairman and leads the US Technology, Media & Telecommunications (TMT) practice of Deloitte; as well as serves as the global Telecommunications, Media and Entertainment (TME) practice ... More, How new technology will shape the future of telecommunications. As major networks and studios continue to launch their own direct-to-consumer streaming services in 2020, competitors will likely scramble to offer content libraries broad enough to both attract and retain customers. Disclaimer: please note that this research may contain copyrighted material. In 2016, about 47 percent of Europeans listened to the radio daily. Find industry analysis, statistics, trends, data and forecasts on Concert & Event Promotion in the US from IBISWorld. According to the Bureau of Labor Statistics, the average American spent $3,226 on entertainment in 2018, a … This message will not be visible when page is activated. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee ("DTTL"), its network of member firms, and their related entities. Live Stream Entertainment Industry in the UK. U2’s Joshua Tree tour topped the Top 100 Worldwide Tours chart. The growth of the entertainment industries has been directly related to the development of a modern economy and rising … Find your industry and gain perspectives and insights from some of Deloitte’s forward thinkers. This publication contains general information only and Deloitte is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. Live music has been about 33% of these total revenues each and every year. Do not delete! Economic development, often quantified in terms of productivity or output per person-hour, has enabled goods and services to be produced with fewer labor inputs. This publication is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business. Banks, consultants, sales & marketing teams, accountants and students all find value in IBISWorld. Every year we take a deep dive into the data and analysis that our team of researchers and industry specialists have unearthed – with the aim of providing Download the full report or listen to the podcast to learn more about the biggest trends across telecommunications, media, and entertainment. Before making any decision or taking any action that may affect your business, you should consult a qualified professional adviser. This statistic shows the results of a survey on the most popular advantages of live entertainment over recorded entertainment worldwide in 2018. 6. Total ticket revenues from the live music industry topped $3 billion. Definitions Do you want access to consumer More than 31,000 full time employees directly benefit from the work of this industry in the United States alone. This section provides information relating to employment and unemployment in arts, entertainment, and recreation. Retail sales in every sector of the music industry are declining except for online streaming music and live music. While most data are obtained from employer or establishment surveys, information on industry unemployment comes from a national survey of households. Entertainment has grown as an industry in step with increased income and time available for leisure and recreation. 2020 Telecom, Media, and Entertainment Outlook, Principal | US Tech, Media & Telecom Leader, Telecommunications, Media & Entertainment, View our latest COVID-19 Outlook on the Media and Entertainment Industry, Listen to our 2020 TM&E Outlook podcast episode, The Center for Technology, Media & Telecommunications, Deloitte's Digital Democracy Survey has a new name. The events sector is worth £42.3 billion to the UK economy in terms of direct spend by event delegates, attendees and organisers, an 8% rise on the previous report. The International Live Music Conference is a professional event for those working at the top of the concert industry, but for a quick and easy description of the business, please read on… The live music business is a significant multinational industry, employing hundreds of thousands of people worldwide and estimated to be worth more than €25 billion annually (source: IFPI). What’s the UK events industry worth? This reflects a 32% increase since 2017. Frank Turner has played more shows in the last 12 months than anyone else, responsible for 194 set lists. 1. Entertainment and Media Leader PwC Southern Africa Welcome to this year’s special report on the findings of our Entertainment and media Outlook: 2018–2022, An African perspective (Outlook). The Economics of the Global Entertainment Industry. Here's the latest Hollywood, Broadway, and beyond. Mental Health & the Live Entertainment Industry. 4. 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