The Economic Footprint of the Irish Events Industry

Until last year, no document existed quantifying the Irish event industry’s footprint. ‘Let’s Celebrate’ was a report released in 2017 by Wide Awake Communications in partnership with Ticketmaster, IMRO and Fáilte Ireland. It was headed by Justin Green, a key promoter in the Irish events industry with experience spanning 30 years dealing with mega artists. Although it is apparent that the money generated from the sector is substantial (just go out in any city on a weekend), lacking data to prove it means the government can’t move forward as quickly with legislating and supporting the industry in a logical, structured way.  

Summary of the Report
It analyses Ticketmaster data and surveying of 6000 attendees between March 2015 and February 2016 across the 32 counties and concludes the sector is worth in the region of €1.7bn to the economy. This translates as ‘every €1 spent on a ticket, an additional €6.06 of revenue is generated within the economy’.

Some insightful stats from the report:

  • 4 million annual attendees
  • 3.7 million bed nights
  • 25-34 year olds attend the most
  • 11,400 jobs created

Interestingly, only 6.9% of all attendees were visitors. We really do love events!

The Significant Others
The report is certainly a document to behold but it outlines that Ticketmaster provided less than 50% of all tickets in the studied period. In recent years, we have seen multiple alternative ticketing platforms such as Eventbrite and TicketBooth, Tickets.ie and Tito crop up, with Eventbrite being the one mainly used in Ireland. These are becoming more favourable mainly due to lower service charges. Marino Fresch, Marketing Director for Eventbrite UK & Ireland said ‘More than 100,000 event organisers have used EventBrite in Ireland since it launched here in 2014, generating tens of millions of euros in sale.’ Also Facebook just partnered with Eventbrite to facilitate the sale of tickets without leaving the Facebook site. This is seen as a major step in combatting ticket scams.

According to the Drinks Industry Group of Ireland (DIGI), there are approximately 7,200 pubs and 980 licensed hotels with both free and ticketed events on all year round. The number of nightclubs is not known. Nonetheless, the events happening in these venues would amount to a decent amount of additional revenue. ‘Let’s Celebrate’ doesn’t even account for additional revenue generated from free events. This is significant because events like St. Patrick’s Day Festival and the Fleadh Cheoil na hÉireann, some of the largest annual gatherings, have no ticketing but have a huge impact on the economy. Lastly, having a peek at Fáilte Ireland’s 2017 Tourism Barometer shows local festivals and events are well regarded by business owners.

If you’d like to take a look at the report, visit here; https://www.letscelebrate.ie/

 

Other sources:

https://www.failteireland.ie/FailteIreland/media/WebsiteStructure/Documents/3_Research_Insights/3_General_SurveysReports/Failte-Ireland-Tourism-Barometer-December-2017.pdf?ext=.pdf

http://www.drinksindustry.ie/assets/Documents/Drinks-and-Hospitality-Industry.pdf

https://www.irishtimes.com/business/technology/eventbrite-teams-up-with-facebook-to-sell-event-tickets-direct-1.3242881

 

 

 

E-Venting is an event management blog by Magnum Events

This week’s entry was written by Gary Hughes