After a miraculous 2023 (examined extensively in VIP+’s “Peak Performance” special report) driven by artists like Taylor Swift and Beyoncé, it seems the live music industry can only go backwards in 2024.
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Live Nation Entertainment reported last month that it would again reach record highs in the second quarter of 2024, with revenue of more than $6 billion and operating income of $446 million.
A month before LNE released those quarterly results, Pollstar conducted its own semi-annual live music assessment, analyzing the top 100 global tours that took place between November 2023 and May 2024. And the data confirms that an unprecedented amount of money is pouring in – a total gross revenue of more than $3 billion, to be exact, up 8.7% from the same period last year.
But how does this data compare to other indicators that all is not well in the concert world, as evidenced by the tour cancellations of several major artists that made headlines earlier this year?
