Live Music Events Defy Downturn
As the UK dipped further into the recession at the start of this year, many analysts pointed to music festivals as an area of the events industry that would suffer excessively from the negative climate. There have been a few casualties so far, notably Reading’s Heavenly Planet festival. Much has been made of the decision to cancel this festival but when you consider that it was being organised by Reading Borough Council, it becomes more apparent why the event was under pressure to reduce spending. This festival was also being launched in direct competition to one of the UK’s largest and well known festival brands, the Reading and Leeds festival. It is now becoming apparent that festival organisers are ramping up the spend with interest in live music events defying the recession.
The NME reported last week that music buyers in the UK are much happier spending their money on live performances, rather than recorded music, and with recent ticket sales for Take That and more prominently, Michael Jackson, reaching seven figures in a matter of minutes, it is clear to see that live music events are still extremely viable for organisers. With news that Bestival and the mighty Glastonbury have maintained spending rather than cutting the budget in this time speaks volumes. Here at E3 Group we have been facilitating requests for numerous live music events with clients looking to hire a band for both festival style events and one off performance. The cost to book a famous band in the current climate is obviously more negotiable than it has ever been while savvy organisers are aware that ticket sales and public interest for live music events are maintaining pre-recession levels.
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