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As soon as Jay Chou started singing, Xuhui's night snack takeaway soared by 44%: How profitable is the "concert economy"?

author:Shangguan News
As soon as Jay Chou started singing, Xuhui's night snack takeaway soared by 44%: How profitable is the "concert economy"?

What can a concert bring to a city? During Jay Chou's concert, Shanghai's late-night snack takeaway volume increased by 24%, and cities such as Hohhot brought billions of yuan in comprehensive income. In addition to the real ability to "monetize", the recovery of the offline performance market has stimulated the development of local cultural tourism and brought opportunities to the industrial chain.

Jay Chou's ability to "absorb gold" is eye-catching

On October 12, the four-day Jay Chou World Tour officially started in Shanghai. On the first day, in addition to the 72,000 spectators in the venue, many fans "observed" outside the venue. According to Ele.me data, on October 12, the number of takeaway snacks in Shanghai increased by 24% month-on-day, of which Xuhui District increased by 44% month-on-month and Changning District increased by 56%. The surrounding communities and overpasses of Shanghai Stadium have become "wild stands", and many consumers directly take out orders for folding maza, disposable raincoats, beer drinks and night snacks to "enjoy together" with the venue, and even some citizens rent out their balconies for 300 yuan to "make a small profit".

As soon as Jay Chou started singing, Xuhui's night snack takeaway soared by 44%: How profitable is the "concert economy"?

At the door of Jay Chou's concert, the takeaway brother is delivering orders.

Similar pomp and circumstance was staged in various places where Jay Chou toured. During the concert, takeaway sales from Haikou increased by 83% compared with the previous week, while Hohhot, Taiyuan and Tianjin also increased by 80%, 60% and 30% respectively. Local specialties in the host city also increased significantly due to the arrival of tourists, with take-out volumes such as Qingtongliang, seafood and rice noodles in Haikou doubling or more than doubled month-on-month, and mutton soup take-out in Taiyuan increasing by 216% month-on-month. In Shanghai, local dishes, potstickers, etc. increased by more than 40% month-on-month.

In addition to food, during Jay Chou's concert, the take-out of optical stores in Haikou and Taiyuan increased by more than three times month-on-month, 3C electrical appliances such as chargers increased by more than 2.5 times, and orders for beauty and personal care and daily necessities also increased by more than twice month-on-month.

More importantly, a concert will have an obvious pulling effect on urban cultural tourism consumption. Taking Jay Chou as an example, Haikou held four concerts in a row to attract a total of 154,600 spectators, of which 95,100 were audiences from outside the province, accounting for 61.5% of the total audience, and in the same period, Haikou achieved a total tourism revenue of 976 million yuan, which is three times the tourism revenue of the Dragon Boat Festival.

Hohhot also copied the "Haikou myth", welcoming 1.2617 million tourists in four days, and tourism revenue jumped to 2.88 billion yuan. The same is true of Tianjin and Taiyuan, where a concert will bring billions of yuan in comprehensive consumption.

The performance industry chain still has potential

Not only Jay Chou, but also stars such as Mayday and TFBOYS have performed intensively this year, which has also detonated the local cultural tourism market.

According to Meituan data, during the Mayday Beijing concert, the number of accommodation reservations in Beijing increased by about 300% compared with the same period in 2019, of which the 5 kilometers around the "Bird's Nest" soared by 2,400%. According to Ctrip's data, the total number of orders for Xi'an travel increased by 738% year-on-year and 199% on the weekend of the 10th anniversary concert of TFBOYS.

Even concerts in non-first- and second-tier cities can bring great returns. During Xue Zhiqian's Quzhou concert, the local area received about 107,200 tourists, including 64,800 overnight tourists, and as a result, Quzhou achieved a cumulative tourism revenue of 124 million yuan in two days, driving consumption in related industries to reach 690 million yuan.

According to the "National Performance Market Brief for the First Half of 2023" released by the China Performance Industry Association, in the first half of 2023, the number of commercial performances (excluding performances in entertainment venues) nationwide reached 193,300, a year-on-year increase of 400.86%; the box office revenue of the performance was 16.793 billion yuan, a year-on-year increase of 673.49%; The number of visitors was 62,236,600, a year-on-year increase of more than 10 times.

As soon as Jay Chou started singing, Xuhui's night snack takeaway soared by 44%: How profitable is the "concert economy"?

Off-site fans held up "Jaylen" and tried to sing to feel the atmosphere.

It is worth noting that among the audiences of well-known singers such as Mayday, Ren Xianqi, Liu Ruoying and other well-known singers in Beijing, the proportion of cross-city viewing performances exceeded 40%, and the proportion of cross-city ticket audiences for Jay Chou's Hohhot concert exceeded 70%.

The booming concert economy has also brought opportunities to the performance-related industry chain. Taking Mayday as an example, the concert launched an official support stick, priced at up to 140 yuan and not free shipping, selling more than 50,000 copies a month, plus other channels such as on-site, sales are expected to reach 10 million yuan.

Taobao data also shows that in March this year, the search volume of glow stick Taobao increased by 169% year-on-year, and concert atmosphere props such as handcards and fluorescent hair hoops also increased significantly, and the sales of related products in many Taobao stores have exceeded 10,000.

"The audience's demand for a sense of experience and immersion in the performance, as well as the satisfaction of social needs, do provide opportunities for surrounding consumption to scale and form an industrial chain." Jiang Han, a senior researcher at Pangu Think Tank, believes that the development of concert-related peripheral products can provide personalized consumption choices, and can also enhance the audience's sense of participation and belonging, on this basis, forming a good brand image and stable supply chain can chain the surrounding consumption industry and achieve long-term commercial value and sustainable development.

Tasting the "sweetness" of the concert, many cities want to rush another wave this year. According to incomplete statistics from the media, from the information of the public concerts, in the fourth quarter of this year, Guangzhou and Shanghai continued to lead, and the number of artists holding concerts was 24. In terms of the number of performances, Shanghai ranked first, with a total of 43 performances.

The concert should not be rushed

How to seize the wind of the concert, feed back the long-term development of cultural tourism in the city, and enhance the image of the city, many local governments have come up with full investment sincerity.

Haikou Cultural and Tourism Bureau specially held a Jay Chou concert hotel service guarantee symposium, launched late check-out, extended meal time, free fruit, free pick-up and drop-off and other measures, Haikou "12345 hotline" even set up Jay Chou concert consultation special table, scenic spots, catering enterprises launched tickets into consumption coupon preferential policies.

During Xue Zhiqian's concert, Hengyang provides free buses for three consecutive days, and all tourists who hold real-name tickets for the concert can also enjoy half-price tickets for Nanyue Hengshan Central Scenic Area and Nanyue Great Temple Scenic Area.

In the "Cultural Tourism Integration Development Plan", Shandong clearly stated that music festivals should be regarded as the main cultural products for the prosperity and development of night tourism. Xiamen reduced venue rent by 30% for concert events, and Nanning introduced a "one-time approval" policy...

As soon as Jay Chou started singing, Xuhui's night snack takeaway soared by 44%: How profitable is the "concert economy"?

Luminous face patches, bracelets and headbands became standard.

Hong Yong, an expert at the China Digital and Real Integration 50 Forum think tank, said that the concert economy cannot be rushed up, and it is necessary to reasonably plan and control the number and scale of venue construction, and avoid blind expansion and duplicate construction, so as not to cause waste of resources and market saturation. At the same time, do a good job in advance of venue layout, safety inspection and evacuation plan to ensure the personal safety of the audience.

"Concerts are a commercial activity involving music copyright and intellectual property rights, and it is necessary to strengthen the supervision of performances, ticketing and other links to safeguard the legitimate rights and interests of artists and consumers." He also believes that in addition to services, the local government needs to strengthen copyright protection and market supervision to build the concert into a new engine of sustainable consumption.

Editor-in-chief: Li Ye Image source: Jiang Diwen Photo by Shao Jing

Source: Author: Zha Rui

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