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Entertainment Venues - US - December 2013

Published By :

Mintel

Published Date : Dec 2013

Category :

Lifestyle

No. of Pages : 133 Pages

Live Nation and AEG have emerged as the dominant forces in live entertainment by controlling all aspects of the value chain. Yet, ticket prices have increased while ticket sales have remained relatively flat. There are opportunities for new business models to emerge to reduce ticket prices and increase attendance and ways for regional players to compete by offering high quality family entertainment at reasonable prices.
Table of Content

Scope and Themes

What you need to know
Definition
Data sources
Sales data
Consumer survey data
Abbreviations and terms
Abbreviations
Terms

Executive Summary

Market overview
Figure 1: Percentage of US adults who attended a performing arts activity, by type, 2008 versus 2012
The market – Concerts
Figure 2: North American concert ticket forecast and fan chart forecast, at current prices, 2008-18
Market drivers
Figure 3: Average ticket price for the top 100 grossing tours in North America, 2002-12
Segmentation – Concerts US
Figure 4: Share of US concert tickets sold among top venues, by venue type, 2012
Arenas
Amphitheaters
Theaters
Clubs
Stadiums/Festivals
Leading companies
The consumer
Younger adults are key audience for most live entertainment venues
Figure 5: Visited any live entertainment venue in the last 12 months, October 2013
Purchasing a ticket increases perceived value
Figure 6: Attendance at paid versus free events, October 2013
Live event junkies
Figure 7: Frequency of attending live entertainment events compared to one to two years ago, by five+ paid and free event goers, October 2013
Most live event goers buy tickets from Ticketmaster
Figure 8: Top methods used to purchase tickets to a live entertainment event, October 2013
What we think

Issues and Insights

Is too much focus placed on amenities for premium customers?
The issues:
The implications:
Can regional/local venues compete with Live Nation and AEG and their stable of stars?
The issues:
The implications:
Are today’s ticket prices sustainable?
The issues:
The implications:
Can the live experience be enhanced?
The issues:
The implications:

Trend Application

Inspire trend: Experience Is All
Inspire trend: Locavore
Mintel futures: Human

Market Size and Forecast: Concerts – North America

Key points
Big old names drive concert ticket revenues
Higher ticket prices lead to revenue growth
Figure 9: Total North American concert ticket revenues and forecast, at current prices, 2008-18
Figure 10: Total North American concert ticket revenues and forecast, at inflation-adjusted prices, 2008-18
Fan chart forecast
Figure 11: North American concert ticket forecast and fan chart forecast, at current prices, 2008-18

Market Drivers

Key points
Higher ticket prices
Figure 12: Average ticket price for the top 100 grossing tours in North America, 2002-12
Major tour success or failure
Figure 13: Ticket grosses for the top 100 North American tours, at current prices, 2007-12
Sponsorships
Figure 14: Brand sponsorship for festivals, tours and music venues, 2006-13
Staying power
Figure 15: North America’s top 15 grossing tours of all-time, year-end 2012
Festivals
Figure 16: Select music festivals in the US, 2013

Segment Overview

Key points
Local venues account for much performing arts attendance
Figure 17: Percentage of US adults who attended an art exhibit, performing arts event (music, dance, theater), by venue, 2012
Leading performing arts category performance suffers
Figure 18: Percentage of US adults who attended a performing arts activity, by type, 2008 versus 2012

Segment Overview: Concerts – US

More than 40 million concert tickets sold by leading venues in 2012
Figure 19: US concert tickets sold among top venues, by venue type, 2010 and 2012

Concert Segment Performance: Arenas – US

Key points
Top 50 arenas in US sold more than 13.5 million concert tickets in 2012
Arenas adding array of cutting-edge amenities
Figure 20: Top 10 US arenas per tickets sold, 2012

Concert Segment Performance: Amphitheaters – US

Key points
Beautiful locales produce beautiful music
Concert ticket sales at amphitheaters in the US are down 2010-12
Figure 21: Top 10 US amphitheaters per tickets sold, 2012

Concert Segment Performance: Theaters – US

Key points
Radio City sparkles
Figure 22: Top 10 US theaters per tickets sold, 2012

Concert Segment Performance: Clubs – US

Key points
The top 50 clubs in the US sold over 5 million concert tickets in 2012
Figure 23: Top 10 US clubs per tickets sold, 2012

Concert Segment Performance: Outdoor Venues – US

Key points
Stadiums: Big shows and equally big events
At festivals, the music is just part of the entire experience
Figure 24: Top 10 US outdoor stadium/festival sites per tickets sold, 2012

Leading Companies

Key points
Overview
Figure 25: Live Nation – worldwide number of venues, by type owned, leased, booking rights, or equity interest, Dec. 31, 2012
AEG Worldwide/AEG Live
SMG Worldwide Entertainment and Convention Center
C3 Presents

Innovations and Innovators

Kid Rock: Foregoing performance fees for share of proceeds
Met Opera – live in HD – making opera affordable for the masses
Live music streaming: Greater exposure for live acts
Enhancing in-venue experiences with a mobile app

Marketing Strategies

Key points
Vertically integrated behemoths leverage in-house resources
Traditional media and internet counterparts
Sponsorships
Websites, mobile apps, streaming services, stores
Social media
Figure 26: Selected band/performer Facebook, Twitter, and YouTube likes, followers, subscribers, November 2013

Past 12-Month Entertainment Venue Attendance

Key points
Two thirds of adults attended a live entertainment event in the past year
Figure 27: Entertainment venues visited in the last 12 months, October 2013
Men more likely to visit music clubs, bars, and sports arenas
Figure 28: Entertainment venues visited in the last 12 months, by gender, October 2013
Younger adults are key audience for most live entertainment venues
Figure 29: Entertainment venues visited in the last 12 months, by age, October 2013
Event attendance correlates with income
Figure 30: Entertainment venues visited in the last 12 months, by household income, October 2013

Number of Live Entertainment Events Attended

Key points
More adults attended paid events than free events
Figure 31: Attendance at paid versus free events among those who attended in the last 12 months, October 2013
Figure 32: Attendance at paid versus free events among those who attended in the last 12 months, by venue, October 2013
Free event attendance does not correlate with income
Figure 33: average number of live entertainment events attended in last 12 months, by household income, October 2013

Frequency of Attending Live Entertainment Events

Key points
Attendance frequency unchanged for half of entertainment event goers
Figure 34: Frequency of attending live entertainment events compared to one to two years ago, by age, October 2013
Adults 18-34 attend more often now compared with two years ago
Figure 35: Frequency of attending live entertainment events compared to one to two years ago, by age, October 2013
Attendance at live events is trending downward for low-income adults
Figure 36: Frequency of attending live entertainment events compared to one to two years ago, by household income, October 2013
More than half of frequent attendees are live event junkies
Figure 37: Frequency of attending live entertainment events compared to one to two years ago, by paid and free event goers, October 2013

Types of Live Entertainment Events Attended/Planning to Attend

Key points
Most likely attended events are concerts
Figure 38: Types of live entertainment events attended and planning to attend, October 2013
Few notable differences in live event attendance based on gender
Figure 39: Types of live entertainment events attended in the last 12 months, by gender, October 2013
Income plays a part in theater and opera attendance
Figure 40: Types of live entertainment events attended in the last 12 months, by household income, October 2013
Frequent event goers have wide range of tastes
Figure 41: Types of live entertainment events attended in the last 12 months, by paid event goers, October 2013

Methods of Purchasing Tickets to Live Entertainment Events

Key points
Most purchase tickets through Ticketmaster or phone
Figure 42: Method most often used to purchase tickets to a live entertainment event, October 2013
All age groups turn to Ticketmaster
Figure 43: Method most often used to purchase tickets to a live entertainment event, by age, October 2013
Lower-income adults more likely to buy tickets at the door
Figure 44: Method most often used to purchase tickets to a live entertainment event, by household income, October 2013

Factors that Encourage Live Event Attendance

Key points
Variety is the spice of life
Figure 45: Factors that encourage more frequent live event attendance, by age, October 2013
Frequent live event attendees want greater selection
Figure 46: Factors that encourage more frequent live event attendance, by frequency of attending live entertainment events, October 2013

Entertainment Venue Advertising and Purchase Decisions

Key points
Most adults notice an ad or promotion at a live entertainment venue
Figure 47: Entertainment venue advertising seen and impact on purchasing, October 2013
Men are more likely than women to notice venue advertising
Figure 48: Entertainment venue advertising seen, by gender, October 2013
Young adults much more likely than older adults to notice ad/promotions
Figure 49: Entertainment venue advertising seen, by age, October 2013
Adults who notice discounts for future performances take advantage
Figure 50: Specific types of entertainment venue advertising that encouraged later purchase, by gender, October 2013
Adults with children take advantage of products/service promotions
Figure 51: Specific types of entertainment venue advertising that encouraged later purchase, by presence of children in the household, October 2013

Race and Hispanic Origin

Key points
Past 12 month entertainment venue attendance
Figure 52: Entertainment venues visited in the last 12 months, by race/Hispanic origin, October 2013
Frequency of attending live entertainment events
Figure 53: Frequency of attending live entertainment events compared to one to two years ago, by race/Hispanic origin, October 2013
Type of live entertainment events attended
Figure 54: Types of live entertainment events attended in the last 12 months, by race/Hispanic origin, October 2013
Factors that encourage live event attendance
Figure 55: Factors that encourage more frequent live event attendance, by race/Hispanic origin, October 2013
Entertainment venue advertising and purchase decisions
Figure 56: Entertainment venue advertising seen, by race/Hispanic origin, October 2013

Teens

Key points
Most teens have attended a live performance event in the last 12 months
Figure 57: Types of live performances teens attended in the last 12 months, by gender, May 2012-June 2013
Teens 15-17 are more likely than younger teens to have gone to a concert
Figure 58: Types of live performances teens attended in the last 12 months, by age, May 2012-June 2013
Teen girls show greater interest than teen boys in live theater and dance
Figure 59: Types of performances teen event-goers attended in the last 12 months, by gender, May 2012-June 2013
Older teens drawn to rock concerts; to other live events, not so much
Figure 60: Types of performances teen event-goers attended in the last 12 months, by age, May 2012-June 2013

Appendix – Other Useful Consumer Tables

Past 12-month entertainment venue attendance
Figure 61: Types of entertainment venues visited among those who attended in the last 12 months, by age, October 2013
Figure 62: Frequency of attending live entertainment events compared to one to two years ago, by gender, October 2013
Figure 63: Frequency of attending live entertainment events compared to one to two years ago, by generation, October 2013
Figure 64: Total number of live entertainment events attended in the last 12 months, October 2013
Figure 65: Types of live entertainment events attended in the last 12 months, by age, October 2013
Figure 66: Types of live entertainment events attended in the last 12 months, by free event goers, October 2013
Figure 67: Types of live entertainment events attended in the last 12 months, by frequency of attending live entertainment events, October 2013
Types of live entertainment attended/planning to attend
Figure 68: Types of live entertainment events planning to attend in the next 12 months, October 2013
Figure 69: Types of live entertainment events planning to attend in the next 12 months, by gender, October 2013
Figure 70: Types of live entertainment events planning to attend in the next 12 months, by age, October 2013
Figure 71: Types of live entertainment events planning to attend in the next 12 months, by household income, October 2013
Figure 72: Types of live entertainment events planning to attend in the next 12 months, by race/Hispanic origin, October 2013
Figure 73: Types of live entertainment events planning to attend in the next 12 months, by paid event goers, October 2013
Figure 74: Types of live entertainment events planning to attend in the next 12 months, by free event goers, October 2013
Figure 75: Types of live entertainment events planning to attend in the next 12 months, by frequency of attending live entertainment events, October 2013
Method of purchase
Figure 76: Method most often used to purchase tickets to a live entertainment event, by gender, October 2013
Figure 77: Method most often used to purchase tickets to a live entertainment event, by paid event goers, October 2013
Figure 78: Method most often used to purchase tickets to a live entertainment event, by free event goers, October 2013
Figure 79: Method most often used to purchase tickets to a live entertainment event, by frequency of attending live entertainment events, October 2013
Figure 80: Factors that encourage more frequent live event attendance, by gender, October 2013
Figure 81: Factors that encourage more frequent live event attendance, by household income, October 2013
Figure 82: Entertainment venue advertising seen and impact on purchasing, October 2013
Advertising seen
Figure 83: Entertainment venue advertising seen, by household income, October 2013
Figure 84: Entertainment venue advertising seen, by paid event goers, October 2013
Figure 85: Entertainment venue advertising seen, by free event goers, October 2013
Figure 86: Entertainment venue advertising seen, by frequency of attending live entertainment events, October 2013
Encouraged purchase – any seen
Figure 87: Entertainment venue advertising that encouraged later purchase, by gender, October 2013
Figure 88: Entertainment venue advertising that encouraged later purchase, by age, October 2013
Figure 89: Entertainment venue advertising that encouraged later purchase, by household income, October 2013
Figure 90: Entertainment venue advertising that encouraged later purchase, by race/Hispanic origin, October 2013

Appendix – Trade Associations

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