The Live Music in Hospitality report stated live music could help pubs and bars generate extra income with 73% of the 1,000 on-premise users surveyed having said they would be more likely to stay in a venue for longer if there was live music while 76% were likely to buy more drinks.
CGA business unit director hospitality operators and food EMEA Karl Chessell said: “As we enter what is likely to be another challenging year for hospitality, 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.”
Low budget experience
Additionally, as the cost-of-living crisis continues to bite, the report showed 68% of respondents felt live music events were a good low budget experience while 47% said they would be more likely to continue visiting venues with live music even if they were short on finances.
The report also showed an opportunity to increase midweek footfall as half of those surveyed were keen to see more live music events during the week rather than waiting for the weekend.
Furthermore, respondents also showed a desire for diversity with 85% finding the idea of combing live sport with live music appealing.
British Beer & Pub Association CEO and non-executive director at GigRealm Emma McClarkin said: “With the market challenges and changes to consumer habits, it’s vital hospitality venues do all they can to increase footfall and enhance customer experience.
Diversity is key
“Diversifying your offer to cater for different consumers and occasions is key.”
Moreover, 67% of consumers stated they typically watch live music in pubs, making them more popular than large concerts venues (31%), festivals (25%) and stadiums (22%).
GigRealm CEO and co-founder 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 provide customers with the one thing that cannot be replicated at home.”
