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[08 April 2009]
MUSIC AND BEER SALES UP IN ECONOMIC DOWNTURN
[c.2009 McClure & Trowbridge Publishing Ltd
Nashville TN. All rights reserved.]
Live music and beer sales are up
Beer and live music sales typically thrive during economic downturns. They are considered recession-resistant. Boulder-based Brewers Association reports that craft beer sales grew almost 6 percent in 2008 - the only area of noticeable growth in the beer biz.
"Despite economy, concert ticket sales sales are up"; 2008 was a banner year for Bon Jovi, Bruce Springsteen and Madonna. The stock market is in the tank, the plant is closing and the neighbor is losing his home ... the perfect time to go to a concert, by one measure.
The concert business grossed just under $4 billion worldwide in 2008,
the most ever for a year and up almost 13 percent over last year,
according to Billboard magazine.
Bon Jovi's Lost Highway tour was the year's highest-grossing trek, based on the trade publication's data from Nov. 14, 2007 to Nov. 11 of this year. It grossed $210.6 million and drew nearly 2.2 million fans. Kenny Chesney grossed $86 million and Rascal Flatts, $55.8 million. Springsteen earned over $204M and Madonna $162M.
Fans keep coming. First-week sales for Britney Spearsí 2009 tour were strong enough that extra dates were added, and AC/DC and Metallica have already sold out shows for January and February. In the end of 2008, concert promoter giant Live Nation reported third-quarter profit more than tripled to $139.9 million. [http://www.msnbc.msn.com/id/28355821/ AP]
UPDATE "Jack Daniel's sales up"
Market News By Martinne Geller
NEW YORK, Nov 29 (Reuters) - Brown-Forman Corp (BFb.N) reported a
greater-than-expected 4.5 percent rise in quarterly profit on Thursday.
Net sales rose to $893.4 million from $727.1 million.
c.2009 McClure & Trowbridge Publishing Ltd
All rights reserved. Any use is in violation
of Federal Law.
Director of Marketing
McClure & Trowbridge Publishing Ltd
P.O. Box 148548
Nashville TN 37214 USA
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