The commercial growth of the live music events industry
“Live music events have grown into global events, give five reasons as to what has driven their commercial growth and success”
By Anjes Kuypers
LT1059 The Service Sector Industries
Module Tutor: Abu Naser
Word Count: 1499
In the past few decades there have been many developments in the live music events industry, which have led to live music events growing to be global events. (Goldblatt, J., 2002) There are several reasons for this development in the music events industry, many of them closely connected to developments in other sectors that influence the business of live music events. In this essay we will discuss the commercial, social, legal, technological and environmental factors that have contributed to the commercial growth and success of the events industry that has resulted in this industry to become a global one, producing events on a much bigger scale than before. Global live music events are now a common phenomenon producing billions of pounds in revenue and many industries outside the direct business of music events want to be involved to get a share in this major success. Books, articles, websites, reports and a few films have been the main resources for information for an essay on this subject, and to determine how music events have become global events.
Events have always been organised for commercial purposes in many sectors of the economy. One of the recent developments in the live music events business is that music events have become a big part of marketing strategy for many companies in almost every sector of the business industry. Companies have tried to transform advertisement into real life experiences that relate to their product or company, which makes it easier for the clients to connect to the company. (Allen, J., 2006) Not only are companies organising music events to promote their businesses or their products themselves but they are also connecting their image to music events by sponsoring big events such as concerts and festivals to advertise and create a certain image. (Ali-Knight et al, 2004) Sponsorship deals are crucial for music events, "We have 5% of our budget from the public purse, 70% of our budget from ticket sales, but without the money from Sky and Emirates and The Guardian then we'd be stuffed." (Florence, P., 2008) This development is a direct reason for live music events to become global events because it creates a bigger budget and possibly a wider variety of public depending on the nature of the sponsoring businesses.
A shift in the social composition of people who visit music events is one of the reasons for the commercial growth of live music events. Music events were originally created as a way to entertain young people and this created an image that suggested that only teenagers and adolescents could go to and enjoy live music events. But in the past few years this image has changed and promoters have widened their range of public and even designed music events especially to attract a public of all ages. This has everything to do with the idea of being an “eternal teenager”, people who grew up with live music events still want to go. "This is the first time we've had this generation who are traditionally time and cash rich, this is the first time we've had a generation in this segment who have grown up with rock and roll." (Cope, R., 2008) For more success in the business organisers also present events with a certain theme or represent a certain ethical standpoint. (Goldblatt J., 2007) The major success of this concept is proven by many successful fundraising events for charity, green events or events confined to a certain music genre. This does not only attract attention of an entirely new public to the live music events business but has also provoked political involvement in these events. For example, the popularity of pop/rock music events, which...
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