Revenue / 04.10.18
This Must Be the Place — The Importance of Live Music Venues for Ireland's Cultural and Economic Life
Original article published on Hot Press (04/10/18) by Peter McGoran
The live music industry is vital to Ireland's culture and economy, and entrepreneurs, promoters and even musicians have felt driven to establish their own events and venues throughout the country. Gauging the state of the sector was a 2017 report by industry expert Justin Green, who estimated that 4 million people attended Ticketmaster events in Ireland from March 2015 to March 2016, generating 1.7 billion euros of net additional revenue and 669 million euros of net additional gross value. Moreover, 3.7 million bed-nights were generated thanks to live music, and 433,666 attendees at events in Ireland came from outside the country. For each euro spent on a ticket, another 6.06 euros were generated within the broader economy. With these figures in mind, it is imperative for the Irish government to respect and nurture the industry. "We've come full circle, to the point where live music is now the calling card for musicians once again, in the same way it was before LPs were around," says musician Pete O'Hanlon of The Strypes. "For better or for worse, if you really want to enjoy your favorite band, you have to go out and see them live." As the business case and popularity of live performing rebounds, more rural regions of Ireland are drawing artists who previously might have avoided them.
Read the full story on the Hot Press website.
Tags: Music , Ticketmaster , News