"Goldman Sachs estimates that global music revenue will double to $200 billion over the next decade, with live music doubling to more than $67 billion. And that's just a subset of live entertainment space. While CEOs understand the power of entertainment to delight people they're trying to reach, they might not appreciate the business caseand how it's shifting. Dave McKay of RBC told me he's never been more popular than when the bank sponsored Taylor Swift's Eras tour. It also helped RBC add more than 600,000 clients to its Canadian banking business last year."
"In organizing the CBGB event, entrepreneur Phil Sandhaus created a Young Punk category of $73 tickets, along with a separate stage area of younger acts that was buzzing with energyand the sponsors who wanted to associate with that. He also livestreamed the key mainstage acts. We want to appeal to people who grew up with this music but make it accessible to a younger generation, Sandhaus told me. Different price points and experiences let us go after different sponsors and brands."
Global music revenue is projected to double to $200 billion over the next decade, with live music alone rising to more than $67 billion. Live entertainment presents a growing commercial opportunity that extends beyond ticket sales to sponsorships and brand partnerships. Sponsorships can drive customer acquisition, as evidenced by RBC's association with Taylor Swift's Eras tour and substantial client gains. Event programming that appeals across generations — using tiered pricing, separate stages for younger acts, and livestreaming — enables access to diverse audiences and sponsors while keeping experiences affordable and brand-aligned.
Read at fortune.com
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