Live Markets: Live music industry finds out that home is where the money is

CTS Eventim AG & Co KGaA

27/04/2026 14:43

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LIVE MUSIC FINDS OUT THAT HOME IS WHERE THE MONEY IS

Global music icons including Adele and Harry Styles are flipping the script in the live music industry space, making millions by anchoring cities with mega residencies instead of globe-trotting tours.

Bernstein dubs it "The Residency Revolution," with Adele's €540 million ($634.39 million) Munich run and Styles' lightning-fast sell-outs proving that staying still is the new way to rock.

However, Bernstein says, "while residencies will remain a lucrative side-quest for the biggest stars, they are unlikely to become the default setting for live music."

At the same time, the experience industry is quietly pivoting to owning and controlling more venues so operators can fatten their slice of the on-site wallet, leaning hard into higher-margin ancillaries.

"A far greater share of every ticket can flow directly to margin," the brokerage wrote, noting that residencies slash touring friction and let artists capture more revenue.

CTS Eventim EVDG.DE, Germany's leading ticket seller, has recently invested in new venues, including projects in Milan and the upcoming Vienna arena, highlighting the ambition to capture more consumer spending on-site.

Live Nation LYV.N, the promoter behind Adele's record-breaking Munich residency, spent €40 million ($46.99 million) building a venue with a Guinness World Records-certified curved LED screen, which welcomed 80,000 fans per show.

"With over 730,000 tickets sold, the Adele shows registered the highest attendance of any concert residency outside Las Vegas," according to Live Nation. The event generated €540 million for the local economy and saw fans spend big on the 'Adele World' theme park, raking in $75 million from merchandise and food alone, Bernstein noted.

Live Nation's partnership at the new Munich Arena is expected to drive €354 million ($415.88 million) in annual gross value added, according to Deloitte.

Harry Styles' 2026 residencies at Wembley Stadium and Madison Square Garden, promoted by Live Nation, will put 1,665,000 tickets up for grabs, with presale "sold out within 30 minutes," according to Bernstein.

($1 = 0.8512 euros)

(Akriti Shah)

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EARLIER ON LIVE MARKETS:
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(Terence Gabriel is a Reuters market analyst. The views expressed are his own)