NEW YORK (VIP-NEWS) — In its newly released Music in the Air report, the bank highlights live music as a key driver of long-term growth, underpinned by strong demand, favorable demographics, and rising ticket prices.
The 91-page report predicts live music revenues will surge from $34.6 billion in 2024 to $38.2 billion in 2025—representing 10% year-on-year growth, up from 4.4% in 2024. Looking further ahead, live music is expected to generate $52.6 billion in 2030 and reach $67.1 billion by 2035.
Goldman has upgraded its long-term forecast for the broader music sector, now projecting a 7.2% compound annual growth rate (CAGR) between 2024 and 2030, up from 6.7% previously.
“We see a robust demand and supply outlook for the live music industry, with upside from increased integration of live music ticketing with streaming services,” Goldman analysts wrote.
The report points to a growing supply of diverse, popular artists touring globally, driven by “stronger financial incentives to tour as tours make up a higher percentage of artist income.” It also cites the rising importance of live experiences among Millennials and Gen Z fans, who are expected to increase their spending power significantly in the coming years.
Goldman notes that live music has shown resilience even during economic downturns, highlighting that average ticket prices rose 40% for stadium shows and 37% for club performances between 2019 and 2024.
The report positions the live music sector as central to the industry`s post-pandemic recovery and long-term expansion, buoyed by digital integration and a generational shift in entertainment preferences.
