Arena Tours: The Art and Science Behind Sold Out Shows
Jun 21, 2024
auto_awesome
Akin Aliu, CAA agent specializing in artist touring, joins to discuss the post-pandemic touring landscape and the economics of arena shows. They delve into the role of artists, managers, agents, promoters, and venues in shaping tour success. Topics include venue selection, pricing strategies, estimating demand, festival impact, and building long-term success in the music industry.
Touring artists face challenges due to market oversaturation, impacting ticket sales.
Balancing data analytics, market trends, and artist relationships is crucial for successful tour planning.
Deep dives
Challenges in Touring Industry
Touring artists are facing challenges due to oversaturation of the market, making it harder to grab audience attention and sell tickets. Various artists like Jennifer Lopez and Black Keys faced struggles in selling out arenas, while others like Nicki Minaj and 50 Cent experienced successful tours. The competition for attention among entertainment options like movies and streaming services adds to the difficulties in attracting fans to live shows.
Post-Pandemic Live Event Dynamics
Post-pandemic changes have impacted the touring industry, with increased costs for artists including crew expenses and bus availability, making tours more expensive. Audience behavior has shifted after the lockdowns, with more selectivity in spending on live events due to rising ticket prices. The prevalence of stadium tours and higher ticket costs have influenced fan decision-making and attendance at live concerts.
Incentives and Guarantees in Touring
The touring business involves various stakeholders like artists, managers, promoters, and agents, each with their own incentives and financial considerations. Artists aiming for high guarantees may face challenges in selecting appropriate venue sizes to meet financial targets. The importance of accurately estimating demand and balancing financial risks is crucial in ensuring successful tours.
Packaging and Touring Strategies
Creating tour packages with multiple artists, each contributing their own fan base and appeal, can enhance tour success by offering diverse experiences and creating cultural buzz. Curated playlists and festival lineups influence audience buying habits, inspiring agents to replicate engaging consumer behaviors and build urgency around live music events. Balancing data analytics, market trends, and artist relationships is essential for effective tour planning and execution.
We've all seen the headlines: another well-known artist struggles to sell tickets to their arena shows. But there are plenty of artists selling out those same venues. So what's really going on?
I'm joined by CAA agent Akin Aliu to break it all down. We discuss the post-pandemic touring landscape and the role of each stakeholder: artists, managers, agents, promoters, venues, and more. They each have different incentives that shape the economics, and the product that hits the streets.
This episode is presented by State Farm: the coverage for your small business needs. Like a good neighbor, State Farm is there.
Make sure you check out our Chartmetric Stat of the Week.
Get the Snipd podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share & Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode