Supply, Demand and Challenges of the Music events Industry

This essay will discuss music events by demonstrating specific examples of the supply, demand and challenges of the music events industry. The supply of music events enlarges day by day. There are many types of these events and also a large number of kinds of music genres. Festivals have been a cultural phenomenom for hundreds of years. The reasons why the first festivals started were religious celebrations. Later on the festivals took part for reaffirming and rivaving a local culture or tradition of the town. The history of very first music festivals go back to years before the century. According to historian, they took place in Ancient Egypt around 4500 B.C. But the first well known music festival was in Dublin, Ireland in 1897 and it is known as the Irish Music Festival. The festivals and cultural events play an important role in the urban regeneration process. The music festivals have become very popular, mostly in young age generation. Festivals or rock concerts usually have a larger audience comparing to other high arts such as ballet, opera or classical concerts. The main reason of this is people are often attracted to see such a performance only because their are motivated by the social status of the attending. Another thing is the performance spaces for doing a festival are much less demanding in terms of renting a building such as concert halls or opera houses since the festivals take place external so that makes it an enviromental performance and not hermetically sealed. Besides it is much easier to get tickets for festivals than for a concert mainly due to the fact that the capacity is not limited. Additionaly people tend to purchase the tickets rather when they are on holidays than back home althought the prices are ...

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...udiences. But due to this coup, the organizers are getting into position to generate the income in order to cover the expenses for non-local performers. The festivals are then becoming more expensive.

„hip hop festival example“

Hip-hop has long been consdiered as an important landmark in the music industry. Althought this kind of music originally first came into public by Affrican-Americans, suprisingly 70% of hip-hop records were purchased by white buyers. Hip-hop is 3rd after Rhythm and blues and Alternative music. Not only dark side.

Current prices for tickets are such that most performances are sold out and demand often outwieghts supply by far. For example: the performances of the Munchner Opernfestpiele (the oldest German music festival) are usually five time overbooked). There are of course various types of festivals catering to different demands,