Earlier this week, a disturbing report revealed that fan no-shows had reached around 40% in the UK. Now, a different report sheds further light on the fact that ticket holders haven’t attended live concerts in the US, as some big-name artists struggle with a higher no-show rate. 20% before a busy concert program in 2022.
The Guardian interviewed several UK live music promoters and professionals as part of the initially noted report, and subsequently the Music Venue Trust (MVT), citing the results of a new survey, warned that venues background music were “on the verge of collapse”. ”
As part of the latter, the nonprofit venue advocate revealed that live concert venues have suffered double-digit attendance, early ticket sales and declining revenue during the week since the UK government announced its Plan B COVID-19 restrictions.
But the disturbing trend hasn’t been limited to live concerts in the UK, according to a report by The Wall Street Journalwhich states that 20% or more of those who bought tickets to see artists like The Eagles, Dead and Company and George Strait did not show up for certain shows.
For reference, big name gigs typically experience a 1% to 3% no-show rate, according to the same source. And a spokesperson for Live Nation clarified that 17% of tickets purchased for performances in the United States in 2021 had not been “scanned” as of November 30, compared to 12% in 2019.
More urgently, the reported decline in attendance is also affecting independent venues and artists, who derive much of their income from the sale of food/drinks and merchandise, respectively.
“Small club and theater shows have seen [no-show] rates as high as 25% to 30%,” the report also states, citing remarks from Dave Brooks of Billboard and noting the relatively low costs of concert tickets. Separately, the text relays that “artists like the Flaming Lips and Billy Joel have also seen no-show rates of 20% or more at some shows.”
In the new year, it’ll be worth keeping up with the disheartening rise in concert no-shows — especially because so many artists are gearing up to hit the road. The past few weeks have brought all sorts of tour announcements for 2022, and the last seven days alone have seen Korn, Shinedown, Tim McGraw, Jack White and comedian Aziz Ansari unveil a slew of performances for next year.
Additionally, Saudi Arabia aims to host 500-600% more concerts in 2022 than in 2019, following recent shows by Justin Bieber and David Guetta. At the time of writing, Live Nation (NYSE: LYV) stock was up about 4% from yesterday’s close, for a price per share of $105.46.