The Future of Live Entertainment Isn’t All Virtual, But It Might Be Hybrid & More Exclusive
JamBase and Forward examine how post-pandemic behavior, technology and data are transforming concerts, festivals and other live events.
By Chrissy Greco Dec 9, 2024 • 10:46 am PST
Photo by Chris Unger/Zuffa LLC (Getty Images)
Personalization, exclusivity and price sensitivity are among the signals and drivers shaping recent trends in live entertainment, according to JamBase and Forward Studio’s recent report The Shifting Landscape Of Live Entertainment. Examining the forces reshaping concerts, festivals and live events the report draws on both companies’ years of industry experience to examine key trends shaping attendee behavior and the near future of live events for brands, artists, and entertainment properties.
Findings reveal an industry transformed by technology that enhances the power of gathering both in person and online in real-time. The unprecedented growth in virtual and screen-based experiences of the pandemic collides with the surge of in-person entertainment to bring a new era that sees a demand for a hybrid of IRL and URL.
The numbers tell a clear story: 73% of live music attendees are now going to concerts as much or more compared to pre-pandemic levels, with industry revenue growing 26% in 2023 alone. With U.S. spending on live entertainment reaching $99.3 billion in 2023, understanding drivers of consumption and what is getting people out of the house has never been more critical.
Looking toward 2025, the industry finds itself at an inflection point where tech innovation enhances rather than replaces live experiences, and attendees look for novelty and one-of-a-kind experiences.
The report identifies seven near term trends in live entertainment via signals and drivers, challenges, and key considerations for live entertainment stakeholders.
Download the Report Here
IRL 2.0
The data is undeniable: 66% of Americans prefer live to digital experiences, and 78% use live music specifically to cope with stress. This hunger for connection is accented by the past five years of digital immersion. Demand for more engaging and exclusive experiences is driving live entertainment where audiences are wowed by and interact with events enhanced by technology. Evidenced by the expansion of new tech-forward venues like Cosm in Los Angeles and Dallas and Anyma’s Sphere residency that sold over 100,000 tickets in less than 24 hours.
Challenges and Opportunities
The industry faces significant hurdles: 38% of fans cite high costs as a barrier to attendance, and the diffusion of places to connect online makes tracking and understanding audience behavior increasingly complex. All the more reason for stakeholders like brands, artists, and entertainment properties to leverage data and think long term in regards to integrating technology and curating not-to-miss entertaining experiences.
The Path Forward
As we look to the future, success in live entertainment will require balancing seemingly opposing forces: technology and tradition, data and intuition, scale and intimacy. The venues, artists, and events that thrive will be those that understand how to enhance the fundamental desire to gather, connect, and experience in real-time.
Explore the trends and opportunities we see influencing the near future of live entertainment.
