Live Nation recently released their 2013 year and results, and there were some interesting predictions for the future of the music business.
The company had unparalleled success in 2013, and is expected to continue to grow this year.
Last year, Live Nation grew it’s global fanbase by 10 million fans, while attracting almost 60 million fans to their concerts.
Live Nation’s Ticketmaster business managed almost 400 million in ticket sales in 2013 as well generating $17 billion in gross transaction value.
Check out 10 predictions about the music business from Live Nation’s CEO, Michael Rapino.
1. We continue to see the tremendous power of live events, with strong global consumer demand.
2. 85% of Live Nation’s fan growth came organically, from promoting more shows in amphitheaters, arenas and stadiums and from launching new festivals.
3. The $9 billion secondary market that has historically not benefitted content owners will start to be captured by teams and artists, and Ticketmaster resale will be at the forefront of empowering this
4. We expect sponsorship & advertising to continue dependable growth at recent historical rates, further building our global sponsor base and expanding our online ad units as we grow and extend our online and mobile presence.
5. Live business will continue to have strong global growth for years to come as fan demand, artist supply and new markets come together.
6. Live is not duplicable, and new social platforms have enabled fans around the globe to get close to their favorite artists. Fans in every corner of the globe can discover, follow, share and embrace artists, translating into greater demand for tours in all markets.
7. Fans are hearing about concerts either from friends or by some digital means 70% of the time.
8. Growth across all genres of music, with country music delivering the greatest fan growth, up 2.3 million fans to nearly 7 million, increasing 50% from last year. Newer artists and genres also contributed to our growth, with 7 of our top 10 tours led by young artists and EDM as our fastest growing genre.
9. Live events are a high priority for discretionary spending, and over 80% of our fans surveyed indicate that they plan on attending the same or more events in 2014 as in 2013.
10. There is more runway ahead that will allow us to continue to build share, add festivals to our global portfolio and enter more emerging markets.
