(Hypebot) — Even before Trump‘s tariffs sent global markets into a tailspin, recent reports pointed to a slowdown at music streamers, record labels and many corners of the music industry. But a new survey shows music merch and live music poised to avoid the spending slowdown that now appears almost inevitable.
Unlike much of the overall music industry, per capita spending on live music hit $281.08 in 2024. That’s up 17% from 2023, according to a MusicWatch online survey of 3,000 aged 13-70 in the US.
More Consumers Are Buying Tickets & A Lot More Merch
Some of that spending increase came from higher ticket prices. But the percentage of the population buying tickets rose to almost 10% to 56% in 2024, up from 51% a year ago.
Spending on music related merch grew an impressive 45%.
Not Everyone Is Optimistic
Live music’s continued success in the face of an economic slowdown may not be evenly distributed, however.
There are troubling signals coming from emerging and mid-level artists and independent venues.
Even as Live Nation and major artists break records, others are struggling to overcome rising prices and increased competition.
Bruce Houghton is the Founder and Editor of Hypebot, a Senior Advisor at Bandsintown, a Berklee College Of Music professor and founder of the Skyline Artists Agency
