SOMERVILLE, NJ (Hypebot) – Income from touring was supposed to help make up for falling artist income from recorded music sales; and more than one label 360 deal has been calculated on the same premise.
But a new Edison Research survey of 12 to 24 year olds shows that ticket sales may not produce the future revenues that so many are aiming for.
In 2000, 24% of fans age 12 – 24 went to three or more concerts a year. Now on 12% do. In fact, the number of young people that will not attend any concert in a year jumped from 43% to 64%.
Edison blames the economy, but a broader array of factors including increased competition from other entertainment sources and high ticket prices and fees may also be play a role in the decline.