For an industry with constantly evolving trends, music's live events have remained surprisingly static since the days of Woodstock. That's about to change.
Just as television relies more and more on live events to drive revenue in the age of instant online availability, the music industry now turns more to concerts and festivals for money. But that doesn't mean that the latest technology is antithetical to the live experience: In fact, music shows are seeing significant new commercial and experiential trends driven by tech, with more on the horizon.
"What we're seeing is that the music festival is becoming one of America's favorite summer pastimes," said Martina Wang, the head of music and entertainment for Eventbrite. "And thanks to technology and a massive mainstream interest, this is the summer of the no-boundaries music festival."
One in five millennials attended a music festival in the past year, according to data provided to CNBC from Eventbrite's Harris Poll. Festivals are especially popular to millennial men and those attending college: 25 percent of college students attend a music festival in the past 12 months, according to the poll.
One of the now-broken boundaries is the requirement to actually be at a concert to enjoy it: Live streaming has picked up steam since Coachella first took to YouTube in 2011, and it is increasingly ubiquitous for the major festivals, Wang said.
The popularity of these high-definition streams, which are seeing more eyeballs each year, is driven by the "FOMO effect," Wang explained. FOMO—or "fear of missing out"—is leading millions around the world to tune into a concert the same way they would watch a sporting event. And while many in the industry feared that streaming would cannibalize ticket sales, festivals are actually finding that it serves as an ideal advertisement for future attendees, Wang said.
Last week, Yahoo announced a partnership with Live Nation to stream
The biggest trend Eventbrite has noticed in live music events is the steady proliferation of mobile use and social media, Wang said. Serving as a "one-stop shop" for every concert necessity, phones can hold tickets, make payments, arrange GPS-specific meet-ups with friends, and more, she said.
This trend is supported by data from Live Nation Entertainment, which found that concert attendees are using their mobiles more often in nearly every metric: texting more, tweeting more, using Facebook and Twitter more, and taking more photos in 2014 over the previous year. Eventbrite even found that one music genre, electronic dance music, has risen in popularity in part due to the social media savvy of its fanbase.