Barcelona surpasses Madrid in revenues from music events in Spain

Barcelona surpasses Madrid in revenues from music events in Spain

Barcelona has consolidated its position as the city with the highest income from music events in Spain, surpassing Madrid for the first time.

According to the report ‘Economic Impact on the Live Music Industry’ by the OBS Business School, the Catalan capital closed 2023 with a turnover of 132 million euros, representing 26% of the country’s total net.

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This success is mainly attributed to the influence of the Primavera Sound festival, which has played a crucial role in consolidating Barcelona as an epicenter of live music.

The notable increase in turnover is not due to a significant increase in the number of spectators, which has not yet surpassed pre-pandemic levels, but to the increase in ticket prices.

In 2023, the average ticket price rose by 48%, reaching an average of €80 compared to €58 in the previous year. This adjustment in prices has been a determining factor in the growth of revenues in the city’s music industry.

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The impact of Primavera Sound on music events in Spain

Primavera Sound is the festival that contributes most to the economic impact of musical events in Barcelona. With an attendance of 243,000 people in 2023, this event not only attracts a large number of locals, but also a considerable international audience.

According to data from the National Statistics Institute (INE), 52% of Primavera Sound attendees come from abroad, mainly from countries such as Germany, the United Kingdom, Italy, France and Portugal.

This music tourism generates significant revenues, amounting to 13,853 million euros, making the festival the second event with the greatest economic impact in Barcelona, behind only the Mobile World Congress.

Expansion and diversification of festivals

The attraction of U.S. investment funds to Spanish festivals, motivated by the potential economic benefits, is a growing trend. The internationalization of Primavera Sound, which has extended its format to Latin America, is a clear example of this expansion.

These moves not only diversify the entertainment options in different regions, but also reinforce Barcelona’s position as a global hub for live music.

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The demographic profile of concertgoers in Barcelona is between 35 and 44 years old. However, in 2023, there was a notable increase in the participation of young people between the ages of 18 and 24, driven in part by the creation of the Bono Cultural Joven.

This initiative has enabled many young people to access cultural events that might otherwise have been inaccessible due to high ticket costs.

Despite the growing popularity of music streaming and online concerts as cheaper alternatives, the report forecasts steady growth in the live music industry.