Now that the second weekend of Coachella has passed, the music festival season is kicking into high gear. Overall in the U.S., music events constitute 62% of monthly music activity spend. Millennials lead the charge by splurging 34% more per month than the average U.S. music listener. And what’s more, the fan engagement that surrounds live music events isn’t just about the show, it’s about driving consumption at the local level, which helps to fuel royalties and a deeper engagement cycle with fans.
To dig even deeper into the impact of live music, Luminate and Billboard partnered on an analysis to evaluate the relationship between live music events and streaming volumes. Our analysis reveals a median event’s yield of +42% growth in local U.S. DMA On-Demand Audio Streaming during event weeks. However, genre does appear to matter when it comes to the consumption bump from a live music event as seen in this graphic below.
Our research also shows that streaming consumption serves as a potent predictor of ticket sales, offering a core signal to gauge an artist’s ticket-selling prowess in specific markets. Read the full report here.
