Kings Of Leon, Take That and The Rolling Stones cited in PRS For Music report
The amount of money spent on face value rock and pop gig tickets fell for the first time in a decade last year.
According to figures released by The Performing Rights Society (PRS) For Music, music fans spent 12% less on face value tickets in 2010 compared with 2009.
However, the organisation, which collects and pays royalties to artists, said that the figures should not be a cause for concern, pointing out that festivals “performed strongly”.
The report stated:
It would be very tempting to look at these numbers and jump towards a knee jerk reaction that the live music bubble has burst. We should not. Instead, we should develop a broader understanding of the dynamics at play in the market.
Earlier this year, PRS revealed that the money going to musicians in the UK from music royalties fell by £7 million in 2010, the first time a drop had ever been recorded.