Total music revenue came to €354m with 69% of that from live performances as high-profile artists such as Bruce Springsteen, Harry Styles, and Taylor Swift all put on shows in the country.
“The report underscores the importance of in-person, real-life, tech-powered experiences such as live music and cinema as crucial growth industries,” read a statement from PwC.
“In 2023, movie box office and music ticket sales represented 38.6% of the net increase in consumer spending worldwide.
“Driven by large events such as musicians’ world tours, global live music revenues rose by 26%, accounting for more than half of the music market.”
Overall, the Irish entertainment and music industry is set to grow by 2.9% each year through to 2028.
This will see it reach €7.6bn, up from €6.6bn last year, and compares to a growth rate of 2.5% globally.
PwC said this growth is primarily fuelled by increasing mobile internet services, continued growth in internet advertising, and video-on-demand subscriptions.
“The Irish entertainment and media industry is set for robust growth to 2028,” said Amy Ball, partner at PwC Ireland Entertainment and Media Practice.
“The industry in Ireland is showing great success and opportunity on the global stage. Ireland has supported the industry over the years. For example, during 2024 we saw the cap on eligible spending on film projects raised from €70m to €125m and the Section 481 film tax credit was also extended to the end of 2028.”
One of the biggest music events in Ireland has also been confirmed as rock band Oasis announced their reunion tour.
Noel and Liam Gallagher announced 17 concert dates with the final two shows set to take place at Dublin’s Croke Park on August 16 and 17.