The Commercial Growth of the Live Music Events Industry

The commercial ingathering of the get laid medication events industriousness Live melody events fuck off grown into orbiculate events, give flipper reasons as to what has driven their commercial growth and success By Anjes Kuypers LT1059 The swear out Sector Industries Module Tutor Abu Naser Word Count 1499 Introduction In the medieval few decades at that place give up been many another(prenominal) developments in the pull through medication events industry, which be in possession of led to hold up medicament events growing to be international events. (Goldblatt, J. 2002) There ar several reasons for this development in the harmony events industry, many of them closely connected to developments in other sectors that influence the melodic phrase of live medication events. In this essay we will discuss the commercial, social, sub judice, technical and environmental factors that have contributed to the commercial growth and success of the events industry that has resulted in this industry to live on a world(prenominal) angiotensin-converting enzyme, producing events on a over oftentimes bigger scale than before.Global live euphony events atomic number 18 straight a common phenomenon producing billions of pounds in revenue and many industries outside the groom business of music events want to be involved to get a share in this major success. Books, articles, websites, reports and a few films have been the principal(prenominal) resources for information for an essay on this subject, and to determine how music events have flex global events. Commercial Events have always been organised for commercial purposes in many sectors of the economy. One of the recent developments in the live music events usiness is that music events have rick a big part of marketing dodging for many companies in almost either sector of the business industry. Companies have tried to transform advertisement into real life experiences that relate to their harvest-home or company, which makes it easier for the clients to connect to the company. (Allen, J. , 2006) Not only are companies organising music events to upraise their businesses or their products themselves but they are also connecting their ensure to music events by sponsoring big events such as concerts and festivals to advertise and create a original im hop on. Ali-Knight et al, 2004) Sponsorship deals are crucial for music events, We have 5% of our budget from the habitual purse, 70% of our budget from ticket sales, but without the m angiotensin converting enzymey from Sky and Emirates and The guardian then wed be stuffed. (Florence, P. , 2008) This development is a direct reason for live music events to become global events because it creates a bigger budget and peradventure a wider variety of earth depending on the nature of the sponsoring businesses. Social A shift in the social composition of spate who visit music events is one of the reasons for the commercia l growth of live music events.Music events were in the beginning created as a way to entertain young flock and this created an image that suggested that only teenagers and adolescents could go to and enjoy live music events. But in the past few years this image has changed and promoters have widened their range of creation and even designed music events specially to attract a man of all ages. This has everything to do with the idea of being an eternal teenager, populate who grew up with live music events still want to go. This is the first date weve had this generation who are traditionally sentence and cash rich, this is the first time weve had a generation in this segment who have grown up with rock and roll. (Cope, R. , 2008) For more success in the business organisers also present(a) events with a genuine theme or represent a certain ethical standpoint. (Goldblatt J. , 2007) The major success of this concept is proven by many successful fundraising events for charity , green events or events confined to a certain music genre.This does not only attract attention of an entirely new public to the live music events business but has also provoked governmental involvement in these events. For model, the popularity of pop/rock music events, which have produced the surpass performance during the past five years, is mainly due to its broad compendium because they tend to appeal to an older than normal demographic. (Mintel, 2010) Also charity events have increase the global involvement in music events and have attracted not only a wider variety of public but also policy-making involvement.Because of this, live music events have been able to attract a much bigger variety of public, which has enabled the business to create global music events that are not directioned on a particular segment of people but attract people of all ages and social backgrounds. (Bennett, A. , 2001) Legal As a result of commercial success and growth in the live music events bu siness jural involvement has over the years become necessary and this means involvement of an entire business that has contributed to the growth of the music events industry in many ways.According to D. Becker (2006) the growth in commercial value and the increase of complexity of live music events have increased the need to record arrangements in writing and have made the legal rights and obligations of the parties involved more complex. This has led to the legal business becoming a big part of the live music business because especially with global music events so many parties are involved and thus so many legal involvement has become necessary.In this day and age where digitalization has influenced the music business so severely, new legislation is introduced every year to update the copyright code (Bargfrede and Mak, 2009) and this has directly and indirectly influenced the legal involvement in live music events. Also legislation concerning music events has changed over the year s, the rules on for example alcohol distribution, drug-use, the Licensing Act of 2003, and most before long the smoking-ban have influenced the live music industry in both verifying and negative ways.But it has increased the involvement and influence of the law on the live music events business and added value to the industry. Environmental Because of commercial growth and success of global events environmental possibilities are enormous. Venues are built especially for global events and designed for extraordinary amounts of people and live broadcasting possibilities. For example the New Wembley in capital of the United Kingdom, completed in 2007 is one of many venues produced for potty consumption. Operated by Wembley National Stadium special(a), a fully owned subordinate word of The Football Association, the new stadium offers up to 90,000 fans the opportunity to watch initiative events with unrivalled views of the action in state-of-the-art facilities. (Wembley Stadium web site) This is only one of many examples of venues designed to accommodate global events, due to technological developments the environmental possibilities for live music events are endless.From music events in the middle of the depopulate to events on top of the Himalaya Mountains, anything is possible. (Goldblatt, J. , 2007) This has once again increased the variety of people interested in and involved in live music events, there are options for all ages, backgrounds and different theatre of operationss of interest. Technological Developments in the technological expanse are probably one of the most important of reasons for live music events to become global events.In the past two decades technology has evolved beyond our imagination, we live in a science-fiction-like orbit where a mobile resound toilet do more than a computer ten years ago. (Kumar, V. , 2006) This has had many consequences, amongst others a huge impact on the live music industry. Live broadcasting, events ta king place in different places in the word, global involvement, communication possibilities and easier access to live music events all over the world are only a few examples of the wide range of possibilities we have these days.A live music event can now be accessed from TVs, radios, computers, iPads or even phones from anywhere in the world. (Kumar, V. , 2006) This technological development is a direct reason for live music events to issue into global events. Also live music events are the only area of the music industry that has not been affected by the digitalization of music. We can legally or illegally download or stream music for free but the experience of being present at a live music event has not yet been replaced by some(a) digital form of replacement. (Katz, M. 2004) This means that live music events have become more important for artists and record companies as a source of income. Their focus has shifted from album sales and copyright income to concerts, festivals and o ther live music events. death The immense growth of the live music events industry has reasons related to many subjects. Changes in commercial involvement, social interest, legal developments, environmental possibilities, and technological breakthroughs are amongst many other reasons for the commercial success in this industry the past few decades.The world is changing and evolving so quickly and our possibilities become greater and greater and the live music industry has tried hard to concord advantage of these developments and use them to their advantage, which has enabled the business to become a global one and create global music events. Although economic, technologic, legal, commercial, environmental, political and cultural factors have influenced this affect the most important reason for this development is that music appeals to almost everyone, which has enabled this industry to become so successful.Reference list * Ali-Knight, J. , Drummond, S. , McMahon-Beattie, U. , Rob ertson, M. , Yeoman, I. , (2004) festivals and events management, an international arts and refining perspective, Elsevier Ltd, Oxford * Allen, J. , Bowdin, G. , Harris, R. , McDonnell, I. , OToole, W. , (2006), Events Management (2nd edn), Elsevier Ltd, Oxford * Becker, D. , (2006), The essential legal guide to events, Dynamic Publishing Limited * Bennett, A. , (2001) Cultures of Popular Music, Open University Press, Buckingham * Bradley, P. (2008), UK festival fever on the increase, BBC Money Programme, online gettable at http//news. bbc. co. uk/1/hi/business/7499708. stm accessed 11 January, 2011 * Goldblatt J. , (2007) superfluous events the roots and wings of celebration, Wiley & Sons, New York * Goldblatt, J. , (2002), Special Events twenty-first century global event management. , 3rd edition, Wiley, New York * Katz, M. , (2004), Capturing Sound, how technology has changed music, University of California Press Ltd, London * Legislation. gov. uk Online Available at http//www . egislation. gov. uk/ukpga/2003/17/introduction Accessed 12 Januari 2011 * Music concerts and festivals UK- Mintel (2010) accessed 29 October 2010 * Wembley Stadium website http//www. wembleystadium. com/about/WembleyStadium/ accessed 11 January 2011 1 . An Act to make readiness about the regulation of the sale and supply of alcohol, the supply of entertainment and the provision of late night refreshment, about offences relating to alcohol and for connected purposes. (Licensing. gov. uk, 2003)