An educator from Southbury, CT, Timothy “TJ” Leonard, EdD, has worked as both a classroom teacher and administrator. Outside his profession, Dr. Timothy Leonard has interests that including listening to and promoting live music in Southbury, CT.
COVID-19 has severely impacted the live music scene, with many acts looking toward virtual platforms to connect with fans. In 2020, sales generated from live music acts dropped 64 percent, costing the industry approximately $18 billion.
In the independent live music scene, the pandemic has decimated this sector, with many venues remaining shut or permanently closing. Moreover, according to an August 2020 article, 90 percent of independent music venues would simply disappear without some type of government intervention. This is significant, as many mainstream acts get their start through the independent music scene.
However, some industry analysts report that the live music sector will recover slowly into 2024. Before COVID-19, the 2019-2024 compounded annual growth rate was projected at 3.33 percent annually. However, with the impact of COVID-19, this figure has been reduced to an estimated 1.4 percent increase over the same period.
Many believe that this recovery will be due to live musical acts moving their performances to virtual reality. Through live-streaming and online concerts, many live acts have reconnected with fans.
YouTube has been a platform to showcase work for some time, but for acts that want to connect personally with their fans, streaming events has been a popular choice. Moreover, fans are responding to this move by paying for content.
Spotify, for example, saw an increase in the number of monthly active users (MAU) and paid subscribers in the second quarter of 2020, with MAUs increasing 29 percent and paid subscriptions increasing 27 percent year-on-year. Further, premium outlets saw a 17 percent year-on-year increase in revenue.
COVID-19 has severely impacted the live music scene, with many acts looking toward virtual platforms to connect with fans. In 2020, sales generated from live music acts dropped 64 percent, costing the industry approximately $18 billion.
In the independent live music scene, the pandemic has decimated this sector, with many venues remaining shut or permanently closing. Moreover, according to an August 2020 article, 90 percent of independent music venues would simply disappear without some type of government intervention. This is significant, as many mainstream acts get their start through the independent music scene.
However, some industry analysts report that the live music sector will recover slowly into 2024. Before COVID-19, the 2019-2024 compounded annual growth rate was projected at 3.33 percent annually. However, with the impact of COVID-19, this figure has been reduced to an estimated 1.4 percent increase over the same period.
Many believe that this recovery will be due to live musical acts moving their performances to virtual reality. Through live-streaming and online concerts, many live acts have reconnected with fans.
YouTube has been a platform to showcase work for some time, but for acts that want to connect personally with their fans, streaming events has been a popular choice. Moreover, fans are responding to this move by paying for content.
Spotify, for example, saw an increase in the number of monthly active users (MAU) and paid subscribers in the second quarter of 2020, with MAUs increasing 29 percent and paid subscriptions increasing 27 percent year-on-year. Further, premium outlets saw a 17 percent year-on-year increase in revenue.
