August 4, 2011 21:58
UK gig takings fall for first time in a decade
Kings Of Leon, Take That and The Rolling Stones cited in PRS For Music report
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.
The slump has been partly attributed to the fact that The Rolling Stones and Take That did not tour last year.
Acts such as Rod Stewart and Kings Of Leon opting to play in arenas rather than stadia also had an effect on box office takings, PRS claimed.
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.
Take That's record-breaking stadium tour and big shows by the likes of Rihanna, Westlife and Justin Bieber should see this year's revenues bounce back, the report added.
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.
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