The U.S. Concert Business Slump
Posted December 27, 2007 — in Music News
2007 was a troubling year for the US concert industry. According to Pollstar The top 20 tours generated $996 million, down 15.6 percent from the year before. The previous low was $951.1 million in 2004.
The concert industry is beginning to feel the shockwaves of the record industry. Its hard to sell tickets with the lack of NEW acts. How many times can promoters re-package high priced reunion tours with the same ol’ bands that haven’t delivered new music in years? It may work for today, but it won’t work for tomorrow.
Even high-priced reunion tours by the Police, Van Halen and Genesis didn’t fill seats. Consumers eventually want something new and exciting. These are the future problems what will plaque the music biz and the concert business. Its back to ground zero which is a good thing.
Apple Trades for $200: The Apple stores continue to be jammed pack while the shares of Apple hit the $200 mark for the first time on Wednesday. Apple released new lines of iPods that can play videos and the iPod Touch which has the touch screen like the iPhone. The iPod along with Guitar Hero was the top seller during the Christmas season. The iPod occupied 5 of the top 10 spots on Amazons best selling electronic list.
The music industry is “in the dumps” and the two most popular sales items are a music delivery item and a game centered around being a musician. This is way too frustrating.
Comment by Matt — December 27, 2007 @ 11:06 am
Too true. But I believe it should read like this: “…Its hard to sell tickets with the lack of GOOD, NEW acts.”
Open up an issue of Revolver Magazine and see how many NEW acts are out there. It’s insane. Finding the good bands is the trick. That’s why all of the re-packaged reunion tours are happening. There’s nothing ‘now’.
Comment by Scott — December 27, 2007 @ 12:08 pm
Van Halen sold out the 17000 seat Rose Garden in Portland Oregon. I’ll bet the Eagles could sell three or four nights in PDX. Quality acts do sell tickets. Could be that Clear Channel isn’t making the revenue they’re used to these days. Then again, nobody is.
Comment by DaveT — December 27, 2007 @ 1:46 pm
I go to great concerts every week. Hardcore, Indie, Dance acts are going to keep playing to crowds while Clear Channel tries to push arena shows.
Comment by A2daC — December 27, 2007 @ 2:24 pm
most everyone doesn’t want to pay for music, and then they don’t understand why there aren’t as many ‘good,new acts’…..one is a cause, the other a symptom
Comment by barrym — December 28, 2007 @ 8:45 am