Concert Business Booms Amid Downturn While 2008 was a down year for most industries, it was a boon for the concert business. Live music venues in North America reported an 18 percent increase in gross box office, according to Billboard magazine.
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Concert Business Booms Amid Downturn

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Concert Business Booms Amid Downturn

Concert Business Booms Amid Downturn

Concert Business Booms Amid Downturn

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While 2008 was a down year for most industries, it was a boon for the concert business. Live music venues in North America reported an 18 percent increase in gross box office, according to Billboard magazine.

JACKI LYDEN, Host:

LYDEN: Invincible went on tour this year and did quite well, thank you, despite the economy. In fact, in 2008, the concert business did well across the board. According to Billboard Magazine, the average box-office gross was up 18 percent from the year before in North America. Average attendance was up more than six percent. Ray Wodell, who covers the industry for Billboard, says that the concert business may not be recession-proof, but it is resilient. Others note that many of this years' concert tickets were bought far in advance, before the bottom fell out of the economy. But here's a possible indicator of good things to come. One artist some considered down and out has a tour coming up in 2009, and she's already selling tickets in big numbers - the unsinkable Britney Spears.

(Soundbite of song "Baby One More Time")

Ms. BRITNEY SPEARS: (Singing) Hit me baby one more time.

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