Live music ticket sales in the UK are expected to grow from £1.75 billion this year to £1.9bn by 2028, driven by large scale events such as music festivals and major world tours, according to PwC’s latest global entertainment and media outlook.

The UK’s entertainment and media market is forecast to surpass £100bn for the first time this year, and overtake Germany from next year to become Europe’s largest. Revenue from the sector is predicted to reach £121bn by 2028 at a compound annual growth rate of 4%.

According to PwC’s report, the live music sector recovered from the pandemic in 2023, with 2024 experiencing further strong growth, boosted in part by Taylor’s Swift’s 15 UK performances of the Eras Tour. It predicts that by 2028, live music will be worth 31% of total music, radio and podcast revenue (£6.1bn).

PwC Strategy partner Dan Bunyan said, “Continued growth in consumer spend on online platforms such as for gaming and streaming, together with offline environments like cinema and live music, highlight that consumers continue to seek engaging content experiences – regardless of the means of consumption. Investment in high-quality content remains critical for the UK E&M economy to maintain its leading position in Western Europe.”