This is the 2nd of a 3-part series about current music trends as researched and compiled by the Nielsen Company and published in the Canada 360 Report – 2019. Today’s analysis highlights live music, a category that has become an increasingly important component of musicians’ income and helped boost tourism in cities, towns, and villages.
Nielsen 360 data reports that the average overall spend by fans annually is $192 with concerts reaping 30% of the total pie. Festivals grab a 12% share, but for millennials the percentage climbs two points to 14%.
Notable in the breakout of how people are spending on live is attendance at small venues. Overall, this category grabbed 6% of the overall survey respondents’ purse on an annual basis. In the case of Teens and Millennials, the percentile climbs one point, to 7%. Whether there can be a renaissance for small club attendance numbers remains to be seen.
Admissions to clubs featuring DJs represents 6% of the overall pie. Amongst Teens, the percentage rises to 9% and Millennials at 10%.
For marketers, the conundrum of how to promote shows is complex. The overwhelming majority of fans reported that “friends and relatives” were the dominant influencer, at 44%. Social media registers at 33% overall; interestingly, the use of online social platforms rises dramatically as a way to reach millennials, at 45%. Radio and TV spot ads as influencers earned 32% and 31% respectively.
The key takeaways from the survey:
– The majority (58%) of Canadians attend live music events, according to data gleaned from survey respondents.
– Music listeners spend 54% of their annual music spend on live music.
– Brands across a wide range of categories have ample opportunity to reach consumers through music, including sponsored sweepstakes, event branding, and playlists.
– Friends and family are the dominant influencers in reaching audiences.