How much do people love live music? You might be surprised…
According to Live Nation’s recent ‘Power of Live’ study, its fanbase really digs live music. That’s great news for Live Nation, but the extent to which it’s true might surprise you. 71% said that live music provided the “moments that give me the most life” – and (incredibly) the studies authors state: “Live music creates more intense emotions than streaming music, and many value it more than sex.” How much more? “Respondents reported that they were 10% more likely to value live music over sex,” according to the researchers. Maybe that’s why millennials are having fewer children?
Live Nation’s share price has grown 28% so far this year
SOURCE: Yahoo Finance
Asked to rate their emotional experience during live music events, 78% of the 22,500 music fans (who ranged in age from 13 to 65) said it rated an 8 or higher. Researchers said that live music ranked 26% higher than sporting events, 27% higher than streaming music, and 31% higher than playing video games. They concluded:
“Of course, digital life isn’t dying off — but after a decade of all that posting, pinning, tweeting, snapping, and streaming, people are tapped out. They now recognize the importance of the physical world to their quality of life and are recalibrating their lives with more intention.”
In good news for brands that choose to advertise through Live Nation events sponsorship, the company also said that it found fans are “more receptive to brands they see at a live event.” And that 67% say that they are more open to experiencing new products and ideas when they’re more emotionally engaged.
Dominion holds Live Nation in its Global Trends Luxury Fund.
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