The buzzworthy research discovery over the last few years has been seeing the increase in experiential purchases (buying experiences versus buying things) by millennials. Included in that spending bump is live music. By 2021, the global market for live music will be worth nearly $29 billion and make up more than 50% of total music revenue.
According to Eventbrite, the percentage of adults between 18 and 49 who attended or bought a ticket for a live music event increased last year to 40%. But the best music scenes are actually popping up in smaller markets (at a combined growth rate of 104%, according to data pulled from the 2-3 million tickets Eventbrite processes every week), in cities where overall growth is fastest. Two of these cities are in our neck of the woods: Oakland and Sacramento.
But why there?
Sacramento has never really been known as a cultural hub, but that’s changing — fast. According to Eventbrite, it is the nation’s fastest-growing city for live music and is a center for a very prominent indie scene, especially when it comes to metal and punk. With the new Golden 1 Center located in the heart of downtown Sac, artists of every caliber are taking note of this city. There’ve also been a slew of new festivals on their calendar including the Aftershock Festival, First Festival, City Of Trees Summer Concert, and Sacramento Music Festival.
Oaktown has long been a creative hub for musicians, artists, and eccentrics, but with urban development over the last decade, its potential has yet to be reached. Fox Theater is at the center. originally opened in 1928, reopened in 2009 after a $91 million renovation. The Town’s Indie festivals include the Oakland Music Festival and Eastlake Music Festival.
For more, check out Eventbrite’s complete 2017 Music Trends report.