A study from Mintel shows that out of all UK leisure sectors, including sports, cinema, pubs and restaurants, music has performed the strongest from 2010 to 2015.
While Brits spent £1.5bn attending concerts and festivals in 2010, the report claims this will rise to £2.1bn for 2015.
It also found that two in five (40 percent) people have been to a music concert or festival in the past 12 months, with seven percent going at least once a month.
Overall, the leisure industry is expected to break the £80bn barrier in 2015, to reach an estimated £80.3bn. This is up 15 percent on 2010, when the market was valued at £69.6bn.
Michael Oliver, senior leisure analyst at Mintel, said: ‘Despite the challenging trading environment of the past five years the leisure industry is expected to surpass £80 billion in 2015.
‘The live music industry has shown the strongest rate of value growth between 2010 and 2015. The main reason for this is the increased focus placed on performing live by recording artists, as a result of declining revenues from the sale of recorded music.’
To access the full report, please visit http://www.mintel.com/press-centre/leisure/music-concerts-and-festivals-market-is-star-performer-in-the-uk-leisure-industry-as-sales-grow-by-45-in-5-years
While Brits spent £1.5bn attending concerts and festivals in 2010, the report claims this will rise to £2.1bn for 2015.
It also found that two in five (40 percent) people have been to a music concert or festival in the past 12 months, with seven percent going at least once a month.
Overall, the leisure industry is expected to break the £80bn barrier in 2015, to reach an estimated £80.3bn. This is up 15 percent on 2010, when the market was valued at £69.6bn.
Michael Oliver, senior leisure analyst at Mintel, said: ‘Despite the challenging trading environment of the past five years the leisure industry is expected to surpass £80 billion in 2015.
‘The live music industry has shown the strongest rate of value growth between 2010 and 2015. The main reason for this is the increased focus placed on performing live by recording artists, as a result of declining revenues from the sale of recorded music.’
To access the full report, please visit http://www.mintel.com/press-centre/leisure/music-concerts-and-festivals-market-is-star-performer-in-the-uk-leisure-industry-as-sales-grow-by-45-in-5-years
