Discover the rise of concert films in the music industry with hits like Taylor Swift and Beyonce; explore the economics and transmedia storytelling behind successful films. Get insights on potential future successes in concert films and the strategic approaches taken by artists. Dive into the financial dynamics of concert films and streaming revenue, predicting a bright future for artists in this space.
Concert films offer artists a lucrative opportunity to engage with fans and control their content distribution.
Concert films help artists reach new demographics and create a communal experience for fans, expanding their audience reach.
Deep dives
The Rise of Concert Films
Concert films have gained popularity as artists explore new ways to engage with fans and monetize their content. They offer an alternative for artists to connect with their audience, engage new demographics, and catalyze fans to engage more with an artist's music. Concert films have proven to be lucrative, especially with innovative partnerships like the one Taylor Swift struck with AMC Theaters, providing artists more control and financial benefits.
Engaging New Demographics
Concert films allow artists to reach new demographics and engage fans who might find live concerts less accessible or cost-prohibitive. For example, families with children or seniors may prefer the cinema experience for a more affordable and inclusive way to enjoy the artist's performance. This helps artists extend their audience reach and create a unique communal experience for fans.
Financial Benefits and Creative Control
Artists like Taylor Swift and Beyonce have reaped financial rewards by bypassing traditional studios and partnering directly with exhibitors like AMC Theaters for concert film distribution. This approach has allowed artists to secure a larger share of ticket revenues and exercise greater creative control over their content. Concert films not only serve as a lucrative endeavor but also provide a platform for artists to express their artistic vision and document significant career moments.
Impact and Opportunities
Concert films have created new avenues for artistic expression and storytelling, enabling artists to engage with their fans in innovative ways. The rise of concert films represents a trend in transmedia storytelling, bridging music, film, and live performance to create a multi-dimensional experience for audiences. This format opens up opportunities for artists to extend their reach, generate revenue, and leave a lasting impact through visually captivating and narrative-rich content.
2023 was a big year for concert films. Taylor Swift's “Eras Tour” film became the highest grossing concert film of all time with nearly $270M in worldwide box office gross. Beyonce’s Renaissance film grossed over $44M. Was this just a Beyonce and Taylor thing, or will this continue?
In this episode, I’m joined by Jimmy Stone, Founder of Alderbrook Companies, to dive deep into the rise of concert films, the economics behind them, the highest grossing concert films of all time, and so much more.
At the end of our conversation, we also included an audio segment of the guest essay that Jimmy wrote for Trapital: “What Is Driving The Rise Of Concert Films?”
00:00 Why are concert films becoming so popular? 06:50 Transmedia storytelling in music 12:48 The economics of concert films 21:11 Which artist could make a successful concert film in 2024? 31:22 Jimmy’s essay: What Is Driving The Rise Of Concert Films?
Make sure you listen in for our new Chartmetric stat of the week!