Live music is the magic ingredient that can attract customers into a bar – and keep them there.
According to a new report from research consultancy CGA by NielsenIQ, no less than 78% of consumers said that they are more likely to visit a pub, bar or similar venue if it offers live music.
Nearly as many – 73% – said that they are likely to stay in a venue longer if there is live music, while 76% stated they’d be inclined to buy more drinks.
As the cost of living crisis squeezes consumer spending, the CGA report suggested that people will prioritise live music when going out, with two thirds of respondents – 68% – reckoning that it provides a valuable social experience on a low budget.
Even if they are short on cash, 47% say they would be likely to continue visiting venues with live music – and half of respondents say they would like to see more live music events mid-week, rather than waiting for the weekend.
The full ‘Live Music in Hospitality’ report from CGA, conducted on behalf of live music booking platform GigRealm, provides further insights into the demand for live music and gig-goers’ demographics and needs, plus interviews with pub leaders discussing the benefits and opportunities for venue operators.
CGA’s director for hospitality operators, Karl Chessell, said: “This year is likely to be another challenging one for hospitality and this research confirms the value of live music as an extra source of drinks sales, from younger adults in particular. With technology available to remove many of the hassles that are often associated with staging acts, this is a great time for operators to explore the potential live music provides.”
CEO and co-founder of GigRealm, Tom Brady, said: “As we enter 2023, many customers will be laser focused on wanting to experience the best hospitality has to offer, especially as we continue to navigate the cost-of-living crisis.
Venues have an opportunity to use live music as a way to enhance customer experience, diversify their offering and providing customers with the one thing that cannot be replicated at home.”
The value of live music was also lauded by Emma McClarkin OBE, CEO of the British Beer and Pub Association – and non-executive director at GigRealm – who said: “With the market challenges and changes to consumer habits, it’s vital that hospitality venues do all they can to increase their footfall and enhance their customer experience. Diversifying your offer to cater for different consumers and occasions is key. GigRealm makes it easy for venues to book their own live music with zero hassle, helping the sector to flourish.”
