Many experts are reporting that the US economy is weak. Some have even suggested that we are in a recession which could have a ripple effect around the world. However, it has always been my opinion that no matter how tight consumers get with their hard-earned dollars, they still need to be entertained. I’m not talking about playing video or card games with friends or family. And, watching a ballgame or the movie of the week on television isn’t exactly what I’m referring to either. I’m talking about putting on some nice clothes, getting out of the house for a few hours, and spending some money to see a local venue. So, I ask the question “is the concert promotions business recession proof?”
The concert business strives on people who have discretionary income. Some consumers will pay for entertainment even while living on a tight budget that keeps getting tighter.
No matter what the current economic conditions are, people are still going to theaters, arenas, stadiums, night clubs, etc., to see a live show. There’s nothing like it and it can’t be duplicated on TV, the internet, CD, DVD, VR, or anywhere else. Live shows offer a unique emotional bond between the fans and the artists.
Promoters continue to produce successful shows and special events, despite the current economic conditions because entertainment provides an escape from the challenges of everyday life. It provides a way of releasing tension and anxiety. It makes one feel good. And when times are tough sometimes it’s worth paying a few bucks (or a lot of bucks) just to remember what it feels like to enjoy life.
by Kevin Morrison of eJams Entertainment Booking Agency (on LinkedIn at https://www.linkedin.com/in/eJams)
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