With music fans increasingly turning to social media to learn about upcoming band events, Facebook has this week published a new report into how music industry marketers can utilize social platforms to better connect with fans and related audiences.
According to Facebook, live events are becoming a bigger deal over time. Various research reports have suggested that younger audiences, in particular, value experiences over things, and Facebook says that, now, some 57% of internet users would prefer to spend money on a unique experience than a status brand.
And the stats show that live concerts play a key role within this category.
As per Facebook:
“It’s no surprise that music lovers are increasingly gravitating toward concerts. By 2023, live music ticket sales globally will exceed $25 billion, which is an increase of 14% from 2019.”