A recent concert by rock group Metallica sold a record $2.12 million in tickets, in an industry which sells between $19 and $25 million per year.
“In the history of Guatemala, we had never sold so many tickets. Metallica has opened the doors to a profitable market”, stated Fernando Leal, operations manager of ticket company TodoTicket.
Staging an event of this magnitude may cost around $200.000, plus the fee charged by the artist. A performer like Metallica charges around $1 million.
Source: elperiodico.com.gt
More on this topic
November 2009
Audiences are willing to pay from $25 to $350 to watch the performance of renowned artists.
Organizing musical events with international artists is a rising business in Panama. While performers might charge from $70.000 to $500.000, depending on their prestige, organizers of the activity make a profit of between 20% and 40%.
September 2011
Out of control piracy and the growth of Internet use, are literally killing traditional stores where CD's, DVD's, movies and video games used to be bought.
In an article about the stark reality prevalent in El Salvador, Karla Argueta examines the changes taking place in the music and entertainment industry, providing analysis that can be extrapolated to apply throughout Central America.
October 2009
Fonotica, the Costa Rican Association for the Phonographic Industry, will charge author's fees for playing music.
Establishments will have to pay up to 2% of their monthly income for playing and using music.
"The fee would be charged in several increasing steps, reaching 2% in five years", reports Elfinancierocr.com.
May 2011
The marketing of digital products via mobile phones is gaining strength in the country.
The Panamanian music industry is cashing in on the existing cellular network in the country through which they selling their products in digital format.
The business of digital music sales is taking hold throughout the Central American region, where major labels have catalogs of music available to mobile users who can purchase songs or entire albums on their phones.
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