The Canadian Live Music Association released a report highlighting both the industry's $10.92 billion GDP contribution in 2023 and the challenges faced due to shifting consumer habits. Fans are becoming more selective about concerts, spending less due to rising ticket prices, drinking less at venues, and purchasing tickets last-minute, making planning difficult for artists and venues.
An association representing the live music industry says budget-conscious concertgoers are getting pickier about which shows they go to and spending less money when they get there, posing “a worrisome trend” for an industry facing economic uncertainties and razor-thin margins.
“And for a long time we thought it was temporary, but it does feel permanent,” Erin Benjamin says from Ottawa. It estimates Canada’s live music companies contributed $2 billion to GDP, and nearly $9 billion from tourism stimulated by live music. “We’re going to still do it comfortably, but I’m not getting to wrap the bus, right? We don’t have the sponsorship dollars to wrap the bus right now.”A lot has to go right for the tour to work financially, Black admits: “We need to sell out. We need to sell merch,” says the “Seven Day Fool” singer, who kicks off her tour Feb. 7 in Oakville, Ont.
LIVE MUSIC ECONOMY TICKET PRICES CONSUMER SPENDING VENUE PROFITS
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