Connecting the live music industry
Ireland`s Live Music Sector to Outpace Global Growth by 2028
August30
Ireland's entertainment media industry is poised for significant growth, with a new report from PwC
Ireland`s entertainment media industry is poised for significant growth, with a new report from PwC projecting an annual increase of 2.9% over the next four years, pushing the industry’s value to €7.6 billion by 2028.
One standout sector is live music, where Ireland`s strong demand has propelled revenues to €243 million last year. This sector is expected to grow even further, outpacing international trends, with an anticipated annual growth rate of 2.8%, reaching €279 million by 2028. This growth is notable compared to the global rate of 2.5%.
The surge in live music is highlighted by major international acts like Coldplay, who are set to begin a series of four concerts in Dublin on Thursday. This follows Taylor Swift`s three-night run in the capital and the recent announcement of Oasis reuniting, which is expected to trigger a rush for tickets this weekend.
The PwC report emphasizes the significance of in-person experiences, such as live music and cinema, as crucial drivers of growth in the entertainment industry.
Last year, cinema box office and music ticket sales accounted for 38.6% of the net increase in global consumer spending. The global live music market alone saw a 26% increase, making up more than half of the music industry’s revenue.
Overall, PwC`s report indicates that nearly all sectors of Ireland`s entertainment industry are on an upward trajectory, including traditional areas like cinema and radio, reflecting the broad-based growth expected in the coming years.
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