Concert Industry Growing!

Over the past decade the music industry has had its ups and downs that included the transition from artists and recording labels losing money when they went from selling full physical albums to selling the single mp3 after the invention of iTunes. That transition alone rocked the music industry and caused many aspiring artists to have to go back to their day jobs because they just weren’t selling enough. Despite the decline in physical album sales, the music industries main focus and so-called “money maker” has turned to the concert industry. According to Digital Music News, the global concert or touring industry has become and will grow larger than the global recording industry. Over the past few years North American ticket sales alone have increased by 4%, which has caused many people to think that the concert industry is on the path to having more revenue in the future when compared to the record industry. This means that artists are now looking at the big picture and are focusing on producing live concerts that amaze people and leave them wanting to come back tomorrow for more. The fact that ticket sales are rising also means that the amount of money each artists receives per show will go up. According to Quora, it is common for artists to receive 10% of the ticket sales with a guaranteed fee for performing. As a artist manager and live sound engineer it is my job to ensure that they receive as much money as possible from each show that they do. It is just like a business and the performance they put on is their product. With that being said, the more they make, the more I make! The main thing I want my readers to take away from me today is that the concert industry is growing larger and becoming more important to artists. So be sure to take that into account in the future when you are planning concerts for artists you are working with! It’s their business, their product, their performance and you are the middle man that has to ensure it makes them as much profit as possible!