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2022 looks promising for Live Music Industry; brands ready for artist collaborations

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“With more artists than ever wanting to tour and fans eager to make up for lost time, all signs point to even more concerts ahead,” – Michael Rapino, CEO Live Nation

2020 turned out to be a difficult year for the industry, catching breath in 2021 now we demand a gala in 2022. Live music industry took a $30 billion blow in 2020, a disheartening number of tours were called off and twenty seven percent musicians faced unemployment.

But worry not! Live music is booting up considering the amount of stadium activity for 2022 and more than a dozen star players actively gripping real estate for the coming year.

Google search analysis is finally showing positive result for the grief-stricken agenda of live concerts in 2021. With the sun shining bright over the industry again, the live music revenue including the ticket sales and sponsorship, is expected to surge by 3.3% CAGR (compound annual growth rate) moving forward in 2022 as per the Global Entertainment and Media Outlook 2018-22 report.

As Covid-19 vaccinations roll out, live music is expected to enliven our lives yet again. Concerts at different scales are surfacing around the world, though the dynamics of these events will differ for fans and artists, the upturn is surely welcome by melomaniacs.

International stars like Eric Church, Thomas Rhett, Kane Brown and Luke Bryan will walk the trail in late summer and fall this year.  The unfortunate fallout of Proud to Be Right Here tour has had Luke Bryan announcing a redemption tour in early July, starting from Syracuse in New York.

With music industry buckling up for full-scale festivals again, the brands must oil their hunt engines to book talent. Artists have a room to pick up from multiple deals offered by brands as the demand is fired up for international tours with the colossal homecoming of the industry.

As exciting as it sounds, brand-partnerships have to ride the changing pace and scale of the pandemic waves.

 

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