Image by Rahul Pandit from Pixabay
Italy’s live concerts sector generated almost €1bn for the economy during 2023, according to a new study into the nation’s music industry.
Figures released by Federazione Industria Musicale Italiana (FIMI) show that the overall economic value of music in direct contributions reached a total amount of €3.08bn in 2023. Indirect contributions added an extra €1.25bn to the figure for an overall total of €4.32bn.
Concerts was the largest segment, worth a total of €967.4m – just short of a third of the overall direct total. Dance and musical entertainment was the second largest segment, adding €780.5m.
FIMI’s figures were gathered from studies by Deloitte, as well as industry groups representing record companies, recorded music vendors, publishers and music instrument sellers.
“The Italian musical ecosystem is a very relevant element in the field of the cultural industry,” said Enzo Mazza, chief executive of FIMI.
“In this context, the value of musical recording as a key element in the industry must also be considered, around which increasingly relevant economies are generated thanks to the technological innovation.”
Last month, DEAG continued its European expansion strategy after announcing the acquisition of Italian live entertainment organiser MC2 Live.
Milan-headquartered MC2 Live has organised events featuring international artists such as Rammstein, Slipknot, 50 Cent and Judas Priest. Its line-up of events for 2025 includes Pantera, Iron Maiden and Marilyn Manson.
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