Study: Media and Entertainment in the Time of Coronavirus30 April 2020 - Press release
UTA IQ has put together a study on "Media and Entertainment in the Time of Coronavirus" that has significant takeaways about the live music landscape. The study surveyed nearly 1,100 US respondents and yielded some insights:
- The survey reveals a strong shift toward a wide array of virtual events while sheltering at home. When asked if they had attended or watched a virtual event while distancing, more than one in four said they'd already attended a livestreamed concert or musical performance, a virtual movie night or watch party, a virtual fitness class, a virtual masterclass or university course, and/or a virtual event or conference. Those numbers surely have grown in the days since the study was fielded.
- 90% of concert-goers have sought to replace the live music experience during COVID.
- 55% of deprived live music fans are streaming catalogue content from their favourite artists. 48% say they have watched footage of old performances and concerts.
- 46% of music fans missing the live experience have tuned in to a livestream. 28% of deprived concert-goers have paid to watch a livestream.
- 49% of concert goers have watched content on social media to fill the live music void. This option is especially popular among consumers under 25 years old and women.
- Approximately 7 in 10 concert attendees who participated in a livestream concert while social distancing plan to continue doing so even after they return to live music events.
- Prior to COVID-19, the appetite for virtual concerts was limited. Now, optimizing the virtual experience may be critical to the future of live music. Music tech companies have quickly begun to legitimize the livestream business through ticketing and offering community-based features that hope to replicate the shared experience of attending a live event.
- 25% of the general population have already participated in a virtual/livestream concert.
- 37% of the general population plan to participate in a virtual/livestream concert in the future.