Indie music venues pumped $860M into Virginia's economy
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Virginia's independent music venues contributed more than $860 million to the state economy in 2024, according to a new, first-of-its-kind study.
Why it matters: The report was produced by the National Independent Venue Association (NIVA) to inform policymakers and music industry stakeholders about the importance of independent venues, after many were pushed to the brink in the pandemic.
By the numbers: Last year in Virginia, indie venues like The National, The Broadberry and The Camel, played to the tune of:
- $1.6 billion in total economic output
- $71.6 million in state and local taxes paid
- And more than 3.2 million fans' entertainment
Plus, they supported nearly 5,000 jobs and paid $540.6 million in wages.
Yes, but: The findings weren't all cause for a standing ovation. In 2024, only 33% of the indie stages surveyed identified themselves as profitable.
- That's way lower than the national average: 64%.
The big picture: It's a gritty time for indies. (NIVA categorizes independent venues and music festivals 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, while indies in major cities are also facing escalating real estate costs and inflation.
What they're saying: Lucas Fritz, owner of local indie venue The Broadberry and the Broadberry Entertainment Group booking company, acknowledged that being independent can be challenging "in a world where the large companies are consolidating more and more market share and power."
- But Fritz also said it's "incredibly fulfilling."
What's next: NIVA hopes the data pushes lawmakers to act — pointing to state laws in Maine and Maryland that cap ticket resale prices and public funding models in Texas and Tennessee that help sustain live music.