COMEBACK CLASSICS
Big money in comeback acts
There’s big money to be made in the legacy music business — but it’s not an easy industry for the little guy to break into
Decked in matching three-piece suits, with dance moves perfectly in synch — albeit a little rusty — and tunes from yesteryear, comeback acts are doo-wopping back into popularity. A trip down memory lane with the likes of Lionel Richie, the Eagles or the Stylistics can cost anything from R400-R3,000. Despite having no new material and being slightly past their prime, legacy acts are raking in millions from a loyal fan base. This shows that SA’s live music sector is booming. According to PWC’s "Entertainment and Media Outlook: 2015-2019" report, live music revenue overtook spending on recorded music in 2014. "The difference in fortunes for the two sectors will result in a widening of the gap in the next five years," says the report. Live music revenue is expected to grow at a compound annual growth rate of 7.9%, reaching R1.5bn in 2019, from R1bn in 2014. "The staging of live events is dominated by a small number of promoters, most notably global events company Live Nation, which oper...
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