Goldman Sachs is betting big on concerts. In its newly released Music In The Air report, the bank’s researchers predict that the global live music industry will expand at a 7.2% compounded annual growth rate (CAGR) between 2024 and 2030, driven by millennial and Gen Z demand.
“Live music shows resilience in times of economic uncertainty,” the report declares, noting that unlike other discretionary sectors, concerts remain a priority for fans. According to data from the U.S. Bureau of Economic Analysis, consumer spending on live music actually grew during recent recessionary periods, suggesting audiences are unwilling to cut back on shows even when finances are tight.
That staying power has translated into a remarkable revenue surge. “The industry has seen a 76% rise in ticket revenue between 2019 and 2024,” Goldman’s analysts note. Despite the jump, fans have continued to show up—even as ticket costs soar. “Tickets have gotten more expensive, seemingly without affecting the growth of live music,” the report explains.
In 2019, the average ticket price for one of the top 100 worldwide tours was $91. By 2024, it had climbed to $136—50% higher than five years earlier. The pricing power, analysts argue, underscores the cultural weight of live music in a digital-heavy era.
“This pricing power, combined with generational demand, positions live music as one of the strongest growth engines in the broader entertainment business,” Goldman concludes. With inflation-resistant spending and global appetite, the live music industry looks poised for another record-breaking decade
World Music Views previously reported that Vybz Kartel has set a new U.S. record for Jamaican dancehall artists, grossing $8.4 million from two sold-out Barclays Center shows in April 2025, with 31,126 tickets sold according to Pollstar. This marks the highest-grossing arena concert by a solo Jamaican dancehall artist in U.S. history, surpassing Buju Banton’s 2024 UBS Arena record of $4.5 million.
Promoter CJ Milan, of the Reggae Fest brand, spoke to Kartel’s global demand, noting over 12,000 tickets sold in the first 45 minutes. Across the Atlantic Kartel has been doing sold-out arena shows in Paris and the Ziggo Dome, Amsterdam, and the U.K.
