Do you have a great story to tell from a music act you saw play live? We bet you do, because we just came across some interesting statistics regarding the music industry. By now pretty much everyone knows that physical music sales have been declining steadily over the past decade. However, overall, the music industry is thriving. How’s that possible? The answer lies in the ongoing shift away from a culture of materialism towards one of experientialism. Listening to music via Spotify, Beats Music or the many other streaming services is great, but it doesn’t fill the growing need for authentic real-life experiences. However, going to a show of your favourite artist is exactly that: a non-replicable experience that you can’t relive again and again (apart from snippets posted to social media). How do we know that there really is an ever-increasing demand for real-life music experiences? Just look at the numbers: While this is fairly impressive in itself, we are more fascinated with the second graph (see below). It shows that the market for concert tickets is currently running hot. By the way, we took this chart straight from the White House’s website: It should be a no-brainer to conclude that if you want to reach your consumers, go face-to-face, provide authentic experiences with a lasting effect – but without a replay button. It’s not that they just like them, they are even willing to spend an ever increasing amount of money on it!
Photo credit: Patrick_Down/FlickrCC