New Study Looks At The Devastating Impact Of The Pandemic On The Nashville Music Industry

New report

Nearly three quarters (73.5%) of the NASHVILLE-based music creators surveyed for the newly-released “2020 Music Industry Report” say they are making less music because of COVID-19, and 50.4% of the city’s recording artists have performed zero times since MARCH. Those are among the key findings of the report, compiled by the NASHVILLE AREA CHAMBER OF COMMERCE, in association with the music data for EXPLORATION GROUP, as well as NASHVILLE’S BELMONT UNIVERSITY and other researchers.

The study illustrates the devastating impact the pandemic and its resulting stay-at-home orders have had on the city’s most high-profile industry. That industry employs more than 80,000 people in the region, and has an economic impact locally of nearly $9 billion.

Among the other key findings, as summarized by THE TENNESEAN: 

• Independent music venues in Nashville lost 72% of their revenue, or $22.6 million, and 73.5% of their jobs.

• 82.8% of music creators performed a livestream between MARCH and APRIL of 2020. 

• 50.2% of consumers say a livestream is nowhere near as good as the real experience. Livestreaming music performances has helped to bridge the income gap for artists, but it doesn't compare to live events and in-person recordings.

• Most venue owners expect a dramatic comeback within two years. For now, they're just hoping to tread water despite losing nearly all their business.

• Bookings for live performances in 2021 are lower for 86.9% of survey respondents.

Download the full report here.

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