Live events are back… sort of

LiveNation, the world’s largest concert promoter, held 12,500 shows in the second quarter of this year – up 25% from pre-pandemic numbers in 2019, per recently published company data.

🎤🎟️ A deeper dive… Attendance at these live events is up from pre-pandemic times, too. In fact, “every key operating metric is at an all-time high,” per the company, as some of the biggest names in music tour the country after staying home the last two years.

• Harry Styles, BTS, Billie Eilish, and Bad Bunny are among the major artists who’ve embarked on sold-out tours in recent months, while Stevie Nicks, Lil Nas X, Post Malone, and Lizzo all have upcoming fall tours with strong pre-order numbers.

📸 The big picture: While demand for mainstream artists and concerts is stronger than ever, other live events have struggled to recover to their pre-pandemic levels:

• A recent study of 143 North American performing arts organizations – covering orchestras, opera groups, and more – found the number of tickets sold decreased 40% in the 2021-22 season compared with before the pandemic.
• Major League Baseball is drawing millions fewer fans this summer than in 2019.
• On Broadway, shows from the 2021-22 season collectively earned less than half of those from the last full pre-pandemic season ($845M vs. $1.8B).
• Domestic box office revenues so far this year are down more than 30% compared to the same period in 2019.

🤔 What’s going on?... Hit that reply button and let us know your thoughts.