Eventbrite study reveals the facts behind music discovery
Last year, Eventbrite conducted two notable studies: the EDM Audience Analysis and one that took a closer look into America’s most buzzed-about music festivals. Now, the online ticketing service offers new research that further explains on the link between music discovery and live concert attendance. Partnering with MusicWatch, a company that provides consumer research for the music industry, Eventbrite surveyed 1,000 people across the nation between the ages of 18-49 who attended at least one live music event within the last year.
Though money spent per capita on CDs and digital downloads dropped from $35 in 2008 to $14 in 2014, the amount on live music increased from $29 in 2008 to $48 in 2014. Moreover, the ticketing platform proves that concertgoers are more valuable to the music industry than fans who simply purchase albums and sit out on shows, as the former “spend[s] nearly twenty times as much on music (including concert ticket purchases) than non-ticket buyers: $276 compared to $15.”
According to Eventbrite, there are four major outlets for music discovery: traditional mediums such as radio, tv or word of mouth, attending live shows, social media, and streaming. 33% of the surveyed pool agreed that they often discover new artists that they like, such as opening or closing acts, simply by attending events – and 3 out of 4 fans who discover new talent at a live event claimed they had purchased a ticket to see that artist perform again. These fans are also 15% more likely to show face at two or more concerts per month than fans who discover new artists via radio, TV or word of mouth.
That being said, streaming also plays an integral role in bolstering attendance at live events. In 2014, 69% of people stream their music, and 42% of those surveyed nodded to streaming sites including Pandora, Spotify and YouTube in helping them discover artists and bands within the last year. About half of the listeners that find new artists through streaming purchase tickets to their show, and almost a quarter purchased artist merchandise following this discovery.
Finally, it goes without saying that social media considerably factors into fans’ discovery of new artists. 14% of respondents say they learned about new artists and bands through Facebook, Twitter, Instagram, Snapchat and Tumblr, 57% of whom showed interest in seeing that artist perform live. A single Facebook share, the ticketing service claims, produces an incremental $4.48 in ticket sales for Eventbrite’s music events – largely a reaction to FOMO.