Indie music venues bring millions to Illinois, new report finds

Yes, but: The report's findings weren't all cause for a standing ovation. In 2024, 64% of the nation's independent venues were not profitable.

• The Promontory in Hyde Park announced this week it will close at the end of the year.

Flashback: NIVA launched in 2020 after the pandemic hit and pushed independent venues to the brink. The group successfully lobbied Congress for safety net funding and expanded its advocacy in recent years.

Zoom in: Chicago's local association that organizers started in 2018 in response to the controversial Lincoln Yards mega development is the Chicago Independent Venue League (CIVL).

• No venues associated with CIVL permanently closed because of the pandemic, CIVL said.

The big picture: It's a gritty time for indie music venues, which NIVA categorized as those not owned by a multinational corporation or a publicly traded company.

• The live music industry is dominated by corporate giants like Live Nation and AEG.
• Independent venues in major cities are also facing escalating real estate costs and inflation.

By the numbers: According to the report, which tracked data in all 50 states and Washington, D.C., independent venues generated $153.1 billion in total economic output in 2024.

• In Illinois, venues contributed $3.9 billion in economic output, $288 million in tax revenue and supported more than 25,000 jobs.
• They also supported 907,000 jobs and paid over $51.7 billion in wages and benefits.

What's next: NIVA wants policymakers to use the data as motivation to back policies that preserve music venues.

• "We can use NIVA's research to strengthen local music ecosystems, working with coalition partners to preserve and protect the value we bring to our communities," Sean Watterson, chair of NIVA's Economic Research Task Force, said in a press release.

Editor's note: This story has been updated to mention that the Promontory will close at the end of the year.