ILMC 30 SL
eps Super Leaderboard 2017
LN Source SL
Ticketmaster ILMC 30 SL
x

The latest industry news to your inbox.

news

Spanish market up 14.7%—but still below 2010 high

Spain's live business recorded its third consecutive year of growth in 2016 – although revenues once again fell short of 2010, attributed by APM to high cultural VAT

By IQ on 18 Apr 2017

Bruce Springsteen and the E Street Band, The River tour, Bryce Jordan Center, Penn State

Bruce Springsteen's 'The River' tour date in Madrid was the biggest show in Spain in 2016


image © Penn State

The value of the Spanish live music industry increased 14.7% year on year in 2016 – a third consecutive year of growth, and the best 12 months for the business in six years.

Bolstered by tours by Bruce Springsteen, Manuel Carrasco and Coldplay, revenues from live performance topped €223 million – up from €194.6m in 2015 – although that figure still falls short of the €260m recorded in 2010, before the increase in VAT on shows to 21%.

The Association of Music Promoters (APM), whose recently published Live Music Yearbook VIII documents the statistics, says the 21% rate of cultural-sector VAT remains the biggest obstacle to further growth, as, “despite promises [to cut VAT] by the ruling party, it continues to hurt the live industry on a day-to-day basis”.

“Despite promises to cut VAT, it continues to hurt the live industry on a day-to-day basis”

Despite the positive figures, APM also warns of relying too much on major international tours, citing “meagre margins” for smaller, independent promoters, and says government action is needed on secondary ticketing, which has been “particular harmful on these tours [Springsteen and Coldplay], as well as on those scheduled for 2017 by Bruno Mars and Joaquín Sabina”.

APM, which represents more than 80% of Spain’s concert promoters, recently appointed Producciones Animadas director Albert Salmerón as its new president.

The eighth Live Music Yearbook (Anuario de la Música en Vivo), can be purchased for €8 from Jot Down.

 


Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news.

More news

Spanish promoters welcome cultural VAT cut APM president Albert Salmerón has hailed the long campaigned-for cut in VAT on live entertainment – but warns it still doesn't go far enough
#stopticketabuse: Spanish Boss fan petitions govt As Doctor Music's lawsuit makes its way through the courts, the president of Spain's Springsteen fan club hopes to gain 500,000 signatures for a new...anti-touting petition
Cultural VAT to be cut to 10% in Spain The cut in VAT for live shows, long campaigned for by the Spanish concert business, will be introduced in the 2017 budget, confirms culture minister...Íñigo Méndez de Vigo
Viagogo hit by multiple speculative selling suits The publicity-shy secondary ticketer is facing fresh legal action from a coalition of Spanish promoters, adding to its growing collection of lawsuits
StubHub still “below expectations” aft... StubHub's financial performance continues to be affected by a "tough events landscape" and restrictions on touting, says eBay Inc. CEO Devin Wenig