Breaking Even: The Future that Lies Ahead for Live Music and Touring
For musicians, the allure of touring remains constant—the pursuit of new audiences, the artistic challenge, and the ever-present need for applause and financial sustenance. As history attests, the motivations behind musicians hitting the road have endured.
In 2023, the live music business appears to be experiencing a resurgence. Live Nation Entertainment’s quarterly report indicates a significant uptick in demand for live concerts and events, with the company's revenue surging by 27% to $5.6 billion compared to the previous year.
The anticipation that boomed during the pandemic reached its crescendo in the summer of 2021. Now, on the other side of that turbulent period, a new normal has emerged for artists and music enthusiasts alike.
With the threat of COVID largely contained, live music is back. Fresh acts and independent artists are back on move able to tour again. But is it worth it?
Consumer behavior has undergone a transformation, and for unestablished artists, touring has become more expensive than ever. From escalating venue costs to rising production fees, transportation expenses for artists and crews, increased merchandise prices, and promotion expenditures—the financial hurdles seem insurmountable for smaller artists, making touring a seemingly unattainable feat without the backing of a devoted fanbase or a major label.
In response to the inflated touring landscape, artists are forced to adapt. Some opt to raise ticket prices, while others cut expenses by performing acoustic sets or duets at intimate venues like record shops and coffee houses, reserving full-band performances for larger cities.
Gabe Brogi playing with Josh Bennett Band.
In Athens, Gabe Brogi bass player for Mars Hill, is relatively new to touring, but he’s learned from his experience with the Josh Bennet Band and is ready to try again. Jameson Tank is also gearing up for another tour.
The reality of touring is that, as an artist without a dedicated fanbase, you have to play shows where you might barely break even or even lose money to reach new audiences that will then fuel new growth. Touring is the primary means through which musicians and bands support themselves and make a decent living from their music, or at least break even.
Andrew Barton setting up tents.
Even before the pandemic, turning a profit from touring was extremely difficult. The current economic circumstances have left even some established artists, such as Steve Vai and Little Simz, struggling to break even.
Despite the financial challenges, touring is more than just a financial transaction; it's a way of life—a medium for artists to connect with different regions, forging connections that endure and evolve.
As the live music industry grapples with the economic aftermath of the pandemic, the road ahead seems perilous for artists navigating the delicate balance between passion, financial sustainability, and the quest for artistic growth.
