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Many small and medium size rock and heavy metal bands and booking companies have been faced with serious economic challenges, even before the beginning of the COVID-19 pandemic. An ever-increasing number of bands ready to tour, in the limited European key markets, driven to off-set declining physical album sales and small revenue incomes by digital streaming providers, have resulted in a cannibalization of the live touring market, further fuelled by an aging customer segment unable or unwilling to attend live events. The main objective of this thesis is to present a plan of action, on how booking companies and bands can implement new technological opportunities to their current business set-up to enhance customer service and raise fan satisfaction.
The conducted literature analysis provides an insight of the current state of the music industry and the past touring business model including some actual band case studies. It further reports the current and future upcoming technological trends that could become relevant for small and medium size booking companies and bands.
The theoretical result identifies digital streaming and hybrid live events as the most realistic business venue to increase customer numbers and additional revenue streams; particularly during the COVID-19 pandemic and the years that will follow.
A customer survey and a customer focus group workshop were conducted, to identify the most important customer needs. They identified current and future customer obstacles, and hesitations to join a digital event and the success factors, that when applied, result in customer excitement.
The empirical research results provide an opportunity to booking companies and bands to implement various customer needs to increase ticketing and merchandising revenues, while attracting new customers and enhance customer loyalty.