Revenue / 03.15.23
France in Focus: Leading the Return of the European Biz
Pollstar (03/14/23) Gottfried, Gideon
France's live events business is enjoying a resurgence at the forefront of Europe's rebound, with this year's showing expected to top last year's remarkable comeback. Although Paris is the center for most of the industry, Gérard Drouot Productions head Matthieu Drouot commented, "regional markets such as Lyon, Nantes or Bordeaux are developing, which is also sparked by people leaving the capital in search of a higher quality of live at reduced costs." Explosive business growth is offset by major cost hikes across Europe, which means "the margins remain very small in our business," according to Junzi Arts co-founder Clotaire Buche. Still, Drouot said people are buying more tickets at increasingly higher prices, while both corporate and independent promoters are expanding throughout France. Another advantage for the country is a robust festival business headlined by events that attract international superstars, like Les Eurockéennes de Belfort. Eurockéennes manager Jean-Paul Roland said although increasing transport, energy, labor and materials costs prompted him to slightly elevate ticket prices, the average price of €50 remains a far cry from what tickets retail for in the U.K. and U.S. "Festivals, in their traditional almost immutable form, remain for many spectators one of the last vestiges of joyful intergenerational sociability," he remarked. "Beyond the entertainment component festivals still allow everyone powerful human adventures with often unforgettable episodes that remain temporal landmarks in the course of a life."
Read the full article from Pollstar.
Tags: Revenue , France