Performance tickets are hard to come by, hotels are overcrowded... Why is the concert economy showing explosive growth? Music Festival | Concert | Economy
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As a form of attention economy, large-scale offline performances such as concerts can not only generate considerable ticket revenue, but also attract a large number of customers in a short period of time. "Performing arts+tourism", as a fashionable and distinctive combination of cultural and tourism resources, has opened a new door for the integration of culture and tourism, enriching new forms of urban consumption.
Not long ago, tickets for the Beijing Bird's Nest concert on May Day went on sale. In just a few seconds, nearly 300000 tickets for six concerts were snapped up. On the Internet, fans who did not get tickets sighed one after another: "there is no room for me in the bird's nest of 100,000 people!"
Not long ago, tickets for the "Mayday Beijing Bird's Nest Concert" went on sale, and in just a few seconds, nearly 300000 tickets for six concerts were sold out. On the internet, "fans" who couldn't grab tickets all sighed, "The Bird's Nest with 100000 people can't accommodate me!"
According to statistics, more than 400 concerts have been held nationwide this year, with nearly 150 concerts held each month in the peak season of April and May, exceeding the level of the same period in 2019. Industry insiders estimate that the number of large-scale concerts this year will exceed 1000, driving 6 to 8 million viewers.
Concerts from all over the country make a strong comeback
Since May, the venues for large-scale concerts in Beijing have been particularly busy. On May 7th, musician Chen Li took the lead on stage at the Cadillac Center, and on the 13th and 14th, Ren Xianqi took over. These musicians all demonstrated strong market appeal, and the venue was almost full. From May 26th to June 3rd, "Mayday" held a themed concert at the National Stadium Bird's Nest, and even if there were six concerts held in Beijing, tickets were still available instantly.
Due to the impact of the epidemic, large-scale public cultural activities such as concerts were temporarily restricted, but since the beginning of this year, concerts have shown a strong recovery. There are reports that "many theater schedules in key cities for concerts have been fully booked this year, and some have even been scheduled until 2025."
According to incomplete statistics, since the beginning of this year, well-known singers such as Jay Chou, JJ Lin, Mayday, Li Ronghao, Zhang Shaohan, Zhang Jie, Xu Wei, Liu Ruoying, Ren Xianqi, and Wang Feng have successively announced their concerts, and outdoor music festivals such as MIDI, Strawberry, and Mido have been launched in clusters. Offline music performances have caused a wave of popularity, with related performance projects covering over 40 cities across the country.
After being sold out in seconds, with high ticket prices, and crowded with new frontline performers, the offline large-scale performance market restarted, popular celebrities such as Jay Chou quickly ignited the concert economy. Taking Jay Chou's 2023 Carnival World Tour as an example, tickets for 12 shows in three cities were sold out instantly, with about 3 million people participating in ticket grabbing for the most popular shows. There are a total of 50000 tickets for the Beijing tour, with an average ticket price of 1280 yuan. The ticket revenue for one city alone is 64 million yuan. Combined with sponsorship and surrounding revenue, the total revenue is nearly 100 million yuan.
According to data monitoring from the China Performance Industry Association's ticketing information collection platform, in the first quarter of this year, there were 68900 commercial performances nationwide, an increase of 95.42% compared to the same period last year; The box office revenue of the performance was 4.98 billion yuan, an increase of 110.99% year-on-year from last year. According to data from Tianyancha, there are currently nearly 537000 performance economy related enterprises in China, of which more than 73000 were newly registered in 2022, with a growth rate of 16.5%.
According to research data from the China Association for the Performing Arts, the proportion of cross city ticket purchases for large-scale performance projects during the May Day holiday exceeded 50% of the total number of viewers. According to preliminary calculations based on the comprehensive driving index, during the five-day holiday, only music festivals and concert projects drove a comprehensive consumption scale of over 1.2 billion yuan in transportation, accommodation, and other aspects beyond the box office performance.
The leverage effect is becoming increasingly prominent
"In recent years, the leverage effect of concerts and music festivals driving the development of the cultural and tourism industry has become increasingly prominent. According to personnel from Feizhu, the hosting of concerts has a great promoting effect on the tourism industry. For example, during the May Day holiday, the booking volume of hotels around the location of concerts and music festivals has increased by more than 20 times year-on-year, and some popular hotels are even" hard to find a room ".".
As a fan of Mayday, Miss Liu, who lives in Longhu Xiyuan, Chongqing, booked a hotel early and took a day off to fly to Beijing on the morning of May 26th. Xiao Liu told reporters that the room rate at the time of booking was 750 yuan/day, and the current listed price is 1580 yuan.
"I haven't been to Beijing for a few years, and this time I happened to take the opportunity to travel during the performance. The plane, hotel, and tickets basically cost last year's year-end bonus," she said to the reporter with a smile.
It is understood that there are not a few fans like Miss Liu who are dedicated to idols, and the hosting of large-scale music festivals and concerts has also driven up transportation, as well as revenue from cultural and tourism consumption formats such as food and lodging, supermarkets, and supermarkets in the vicinity of venues.
The holding of a concert usually attracts many nearby businesses to set up temporary stalls, such as drinks, snacks, souvenirs, concert merchandise, etc., further promoting commercial development and driving urban consumption.
In recent years, some cities have begun to develop concerts as an important cultural and tourism industry, and have achieved many results. For example, the concert economy can also drive the development of related supporting industries. The demand for performance equipment such as sound, lighting, and lasers increases significantly during the peak period of concerts, and corresponding manufacturers of sound, lighting, and laser equipment will also experience significant development. This can not only promote the development of local supporting industries, but also drive industrial upgrading and technological progress nationwide.
The reporter learned that benefiting from the recovery of the performance market, Haoyang Co., Ltd., a leading stage lighting equipment company, continued its growth trend last year. In the first quarter, it achieved revenue and net profit of 330 million yuan and 99.6554 million yuan, respectively, a year-on-year increase of 42.47% and 62.65%.
At the Getshow exhibition held in Guangzhou recently, an entertainment lighting equipment manufacturer revealed to the media that the number of devices sold to music performance organizers has increased by 10% to 20% compared to the same period last year; Laser manufacturers provided stage laser light services for large music festivals during the May Day holiday, and there have been few similar orders before.
According to data from Meituan and Dianping, as of the invoicing date, during the Mayday concert, the total accommodation booking volume in Beijing increased by about 300% compared to the same period in 2019, with a 2400% increase in accommodation booking volume within 5 kilometers around the Bird's Nest.
Yang Jinsong, Director of the International Research Institute of the Chinese Academy of Tourism, believes that the prosperity of the performance market can not only bring direct economic benefits to the host city, but also enhance the city's reputation, showcase a good business environment, and lay a foundation for attracting more tourists and even attracting investment in the future.
Fully unleash the spillover effects of the performing arts economy
A concert is a comprehensive activity that integrates culture, entertainment, and economy. It can not only bring people a pleasant experience, but also have a huge impact and benefits on the economy.
"From the current perspective, there is no reason why the popularity of concerts cannot be sustained." Zhang Yi, an analyst at iMedia Consulting, said that consumers' demand for concerts is different from before, and many young people have regarded watching concerts together as a means of socializing. Another requirement is the quality of on-site sound effects, which can provide a higher quality music experience than online.
Professor Mo Yuanming from Chongqing University of Business and Technology suggests that local governments and enterprises should encourage and attract more celebrities to participate in concert activities under reasonable planning, and effectively manage and follow up. Especially at present, when celebrities gather to sing, it has become a norm for official channels to have a hard time finding a single ticket. However, at the same time, a plethora of "second-hand tickets" and "premium tickets" have emerged on various social media platforms, and it is urgent to take decisive action against the "scalpers chaos". This can not only enrich the cultural and entertainment life of residents, but also promote the rapid development and prosperity of the local economy.
Tang Tao, Deputy Director of the Art Department of the Chongqing Municipal Commission of Culture and Tourism, said that in the face of the booming demand for audience viewing, the supply side potential of the performing arts market still needs to be explored. First of all, we should improve the level of local creative production, constantly improve the quality of local performances, and constantly "blood" for the performance market; Secondly, it is necessary to actively cultivate the habit of audience watching performances and promote the development of the performance market; Finally, we need to promote innovation in business models, encourage the development of new spaces for small and medium-sized, themed, and distinctive performances, and form distinctive urban performance gathering areas to promote cultural and tourism consumption and high-quality development.
