US consumers are now spending more on tickets to live shows than they are on recorded music.
That’s according to Nielsen’s new 2014 US music report, which takes an in-depth look at consumer behaviour in the market over the past 12 months.
One section of the report deals with Nielsen research regarding each music fan’s average spend throughout 2014.
According to Nielsen’s data, these consumers are spending $109 each per year on music – but the majority of their money is going on live events.
As you can see below, 35% of the spend is dedicated to ‘buying admission to live concerts’. Alongside tickets to music festivals (8%), ‘paying cover to small live music sessions’ (7%) and buying admission to DJ events (3.5%), live music takes 53.5% of the pie.
The biggest area of spend in the recorded music world is digital tracks, which claim 35% of the average music fan’s yearly financial outlay on their hobby. Paid online music streaming services lag behind with just 3%.
Music Business Worldwide