SOURCE: Eventbrite

Eventbrite

SOURCE: MusicWatch, Inc.

July 15, 2015 11:00 ET

Eventbrite Reveals How Discovery Drives Value for Live Music Industry

Three out of Four Fans Who Discover an Artist at a Live Event Purchase a Ticket to See That Artist Perform Again

SAN FRANCISCO, CA--(Marketwired - July 15, 2015) - Eventbrite, the global ticketing and events marketplace which has ticketed more than 165,000 music events globally to date, today released new research that explores the link between music discovery and live concert attendance. In the past four years, per capita spend on CDs and digital downloads has fallen by nearly 50 percent, but spending on live music is up by 66 percent. Eventbrite partnered with independent research group MusicWatch, Inc. to conduct a nationwide survey of 1,000 people between the ages of 18-49 who attended at least one concert in the past year. The report, "From Stream to Ticket: Mapping the Value of Music Discovery," uncovers how post-discovery behavior is helping drive incremental spending in live music.

Beyond Linear Discovery
Broadcast radio has been the historical driver of music discovery and remains relevant as a form of music consumption. However, the study showed that music discovery is a more integrated process, with fans relying on a mix of broadcast radio, TV, word of mouth, streaming, social media and live events to drive discovery.

"The linear 'play then purchase' model of radio airplay followed by a trip to the record store has been replaced by an approach of cross-pollination," said Russ Crupnick, Managing Partner, MusicWatch Inc. and former president of NPD Entertainment. "Concert-goers still rely on traditional mediums to learn about music and discover new artists. However, streaming, social and live provide a discovery canvas for a wider set of artists who may not be getting mainstream airplay, ultimately driving more fans to their shows."

Live Music Discovery Breeds High Value Fans
When asked about live shows, concerts, or festivals, 33 percent agreed they discovered music they liked from unfamiliar artists or bands who performed as an opener or additional act. Three out of four fans who discover an artist at a live event said they had purchased a ticket to see that artist perform again. Further, these high-value fans are attending shows more frequently and contributing to artists' revenue streams. They are 15 percent more likely to attend two or more concerts per month than fans who discover through radio, TV or word of mouth and 28 percent purchased artist merchandise post-discovery.

Streaming Fuels Attendance at Live Music Events
Although there is heated debate around how people's music listening habits are affecting revenue for artists, streaming is fueling more attendance at live events. When asked how they discovered artists and bands in the past year, 42 percent of survey respondents cited audio or video streaming services like Pandora, Spotify and YouTube, which have grown in participation from 56 percent of the Internet population in 2012 to 69 percent in 2014. Half of the fans that discover a new artist or band through streaming are buying tickets to their show and nearly a quarter purchased artist merchandise post-discovery.

Social Media Drives Ticket Sales
Two out of three respondents say they discover a lot of music they like on social networks, and 14 percent mentioned learning about entirely new artists and bands on Facebook, Twitter, Instagram, Snapchat and Tumblr. Fifty-seven percent who found a new artist or band on social media indicated that they went to see that artist perform live and 33 percent reported purchasing artist merchandise. A single Facebook share yields an incremental $4.48 in ticket sales for Eventbrite's music events, further demonstrating the power of social discovery.

"Live events have the power to increase engagement and fuel the independence of musicians. The links we saw in our research between discovery and monetization are very encouraging," said Julia Hartz, co-founder and president of Eventbrite. "Experiencing music live creates the strongest bond between artist and fan and those who buy tickets to live shows spend nearly twenty times as much on music overall compared to non-ticket buyers. As fans become more emotionally and financially invested, they drive more value to the industry."

For more details, please review the full report here. To learn more about Eventbrite ticketing and registration for music events, check out eventbrite.com/music.

About Eventbrite
Eventbrite is the global marketplace for live experiences that allows people to find and create events. Since 2006, the self-service platform has helped event organizers of all kinds to sell more tickets through robust technology and promotional tools, totaling $3.5 billion in gross ticket sales. In addition to providing technology for organizers, Eventbrite has become the destination for consumers looking to discover a variety of live experiences from small photography and yoga classes to large concerts and festivals with tens of thousands of attendees. More than 200 million tickets have been processed on the platform, and in 2014 alone, Eventbrite processed $1.5 billion in gross ticket sales for attendees in more than 180 countries. Eventbrite investors include Sequoia Capital, Tiger Global and T. Rowe Price. Learn more at www.eventbrite.com.

About MusicWatch, Inc.
MusicWatch provides in-depth music consumer research and analyst services for the entertainment industry. With more than ten years of trended data and new research released quarterly, MusicWatch helps clients understand the latest market trends, consumer purchasing and listening habits, including music streaming services, broadcast and satellite radio, and music devices. For more information, visit www.musicwatchinc.com.

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