The US, representing more than one-third of global spending in 2023, remains the world’s biggest E&M market for the combined advertising and consumer spending markets by a wide margin. By 2028, China’s advertising and consumer spending revenues (US$362.5 billion) will be less than half of those in the US (US$808.4 billion). Live music revenues rose by 26.0% in 2023, and accounted for more than half of the overall music market. The growth in live music was skewed towards large events such as the tours by Taylor Swift, Beyoncé, Coldplay and Elton John. Together, movie box office and live music ticket sales represented well over one-third—38.6%—of 2023’s net increase in consumer spending on E&M worldwide.

Source: International New York Times July 16, 2024 16:22 UTC