If you search the words ‘music streaming and revenue’, the result will show realms of articles written globally. The articles highlight the benefits streaming platforms have provided to the artists, financially. New age artists are generating revenue sitting in a cosy corner of their home. The medium has replaced the physical records/CDs as it is deemed to be more profitable. But the reigning king of revenue generation is still : live music concerts.
Live music concerts have always been the highest source of revenue for the artists. The ticket sales coupled with the merchandise sold at the concerts generate revenue more than what thousands of streams put together would. Artists have always made a bulk of their income through live music concerts and tours.
Hip Hop and Pop are currently the ‘most streamed/listened to genres’. The trend changes when you dwell on the live music concerts and tours scenario. The genre ruling this lucrative aspect of music business is rock music.
The rock stars may have grayed but their songs still make their fans jump like pre-pubescent youths. Fans book tickets months in advance for the shows. Trips are planned out, banners made, merchandise purchased. They are willing to shell out more than they would want, to witness their idols in the flesh.
The rock stars have always remained relevant either by producing new albums or extensively touring across the globe. Some of the rock bands, Tool for example, have stayed away from releasing their albums on the music streaming platforms. These bands utilise their fan base to earn revenues.
Top live music concerts ever
According to figures in a Billboard report, the top 10 highest grossing tours of all time, features 7 rock acts.
U2’s 2009-2011 ‘360°’ tour brought in $736.4 million. The Irish band’s 2005-2006 ‘Vertigo’ tour grossed $389 million. Bringing Axl Rose, Slash and Duff McKagan together for the first time since the 1990’s has ensured that Guns n Roses have, so far, made a staggering $563.3 million from their ongoing ‘Not in This Lifetime’ tour.
When one talks about rock music and big money, can the Rolling Stones be far behind. In spite of performing a free concert in Copacabana, Rio de Janeiro, in front of two million people, the band raked in $558.2 million from their 2005-2007 ‘A Bigger Bang’ tour.
By performing Pink Floyd’s historic album ‘The Wall’, Roger Waters took home $458.7 million through his ‘The Wall Live’ tour. He commenced touring in 2010 and wound up in 2013. By the time Waters had begun this tour, AC/DC had wrapped up their ‘Black Ice’ tour. The 2008-2010 tour saw the patriarchs earn $441.1 million.
According to the revenue figures for the 2018, fans across the genres have lapped up the chance of attending a live music concert. The live music concert scenario is expected to rake in the moolah for the artists pan genres in the current year too.