The Power of Live: A Rough Guide to the Concert Experience

Søren Kold

Student thesis: Master thesis

Abstract

The music industry has been enduring some financial turbulence in the past few decades. Music in digital form has taken a lot of the revenue previously generated by sales of CDs. Furthermore, the music industry has been battling an increase in piracy, a financial crisis leading to a global recession and severe conglomeration in the cultural industries. One of the only areas to provide a steady income stream for artists has been the live music industry. One explanation for the economic boom in the live music industry is the increase in the demand for experiences. The immediate link between the consumer and the artists' live concerts is the venues. By combining literature on providing enriched experiences with qualitative interviews with key informants of the venues, the nature of their experience offering is analyzed. From this analysis it is clear, that the venues are already embracing certain aspects of the experience economy. These aspects are specifically relating to the intertemporal aspects of the concert experience and the utilization of social media in order to meet consumer needs. To explore how the consumers perceive the concert experience offering, several qualitative interviews have been conducted with multiple consumers attending different concerts in a variety of genres. The modern consumers face an abundance of cultural products and an endless amount of choices. Consequently, the consumers are utilizing different judgment devices as a viable sorter of this information overload. These judgment devices range from word-of-mouth from a friend to a hybrid of internet websites. Consumers trust different judgment devices and most consumers seek the aid of one or more devices in order to make a qualified choice. This is also the case in the live music industry, where consumers choose between singularities, incommensurable and unique products, which are hard for the everyday consumer to evaluate. The consumers are increasingly relying on friends' judgments because they know or share their musical tastes. Given the increasing amount of information surrounding different artists and the growing use of social media, the venues have the possibility of utilizing this knowledge and guide consumers towards more transformative experiences.

EducationsMSocSc in Management of Creative Business Processes , (Graduate Programme) Final Thesis
LanguageEnglish
Publication date2012
Number of pages128