5 reasons The live concerts are protected from the economic recession

• The live music industry is in particular a good position to install it during the recession.
• Goldman Sachs put five reasons that make the industry historically flexible during the decline.
• The company finds that people give priority to live music, even when spending is narrow.

Talking about the recession increases a sound throughout Wall Street. But even if the United States is sliding into complete economic shrinkage, one industry is in a good position to overcome the storm: live music.

This is according to Coldman Sachs, who described live music as “flexible stagnation” more than other entertainment forms.

The company has found that over 30 years starting in 1990, the live music industry witnessed average growth of 7.3 % during the recession years, which surpasses other entertainment areas.

Moreover, since 1990, growth on live entertainment has increased by 735 %. This exceeds any other form of entertainment, including gambling, sports and theaters, according to Goldman’s analysis of government spending data.

Strategists, Stephen Lazstezk, wrote in the Monday note to the clients: “Historically, the living music industry showed a relatively strong degree of flexibility in times of economic fluctuations,” Strategy Stephen Lazzske wrote in the Monday note to the clients.

The company continued the details of five reasons why live music is particularly flexible.

1. It is a firm industry

Over the past thirty years, the live music market has grown less specialized and more prevailing, which helped support industry through economic decline.

The value of the global music music market reached about 34.8 billion dollars in 2024, and it is expected to be enlarged to 62.5 billion dollars over the next decade, according to an estimate of the visions of the specialized market.

Goldman said: “The relatively small base that has arisen the industry with the strong secular winds that have evolved over the years helped to increase the growth of revenues in a way that was not affected by periods of weak consumer spending,” said Goldman.

2. There is a large secondary market that isolating direct ticket sellers

There is a large market for people who resell their concert tickets, which helped isolate the market from weakest to consumer spending.

In 2019, secondary ticket brokers received about $ 1.3 billion of profits on the living nation’s offers, and the giant of musical events estimated.

Analysts said: “We consider this profit gathering as a pillow that helps absorb decreases in spending on consumers. For example, in the event of recession, we expect the secondary market to market most of the pressure on marginal demand, and isolate the basic profitability of the live music industry.”

3. Live music has become universal

Live music has spread beyond Europe and North America, as Latin America and Asia are now a large part of the global demand for concerts. This extension helped to isolate the industry when the American economy is not hot.

4. Industry is still a relatively good value

While ticket prices have increased faster than the frequency of inflation over the past few decades, concerts are still relatively cheap compared to other live entertainment forms.

The average price to the best 100 live concerts was about $ 106 in 2022. This was still cheaper than the average ticket to the American Football Association game, which cost about $ 258 that year, or the Mediterranean exhibition, which cost about $ 133, according to Goldman’s analysis.

“We believe that the ability to bear the relative costs (and the value) of concerts make live music more stagnant compared to other entertainment forms of other prices,” the bank wrote.

5. Consumers give priority to live music when spending little

Finally, consumers cannot give up concert experiences, even when there is pressure to tighten their wallets.

67 % of 67 % of people who would first penetrate live music if they have to reduce their spending, although 67 % will retract gambling, while 28 % would penetrate sporting events.

Live music has also not shown any signs of slowdown so far this year.

The bank added: “In fact, we have not yet seen a useful slowdown in the high frequency indicators that we follow, including data of the geographical site attendance in the squares (until the end of February) and the TOWER TOWER application data for Ticketmaster (until mid -March),” the bank added.