Identify demand driven by concert residencies

Published on May 31, 2024

PredictHQ now tracks concert residencies

Concert residencies represent consecutive shows by an artist at the same venue. Compared to tours, residencies present a constant demand factor and a shift in audience reach - where a residency has a much stronger pull for concert goers than a tour. Being aware of these types of concerts and the unique ways they may impact your business differently from tours is important, which is why we’ve rolled out this new concert classification. You are now able to identify concert residencies and all associated shows that fall under that residency.

This new feature uses a model to identify and flag concert residencies, meaning you can now easily see which events are part of the same extended performance for a more accurate picture of long-term demand. This update makes it possible for you to:

  • Power more relevant notifications: By grouping residencies together, you can send a single notification for the entire span of the event, keeping things clear and concise for your users. This also makes it possible to see aggregated event impact data, such as predicted event spend and predicted attendance for the full span of the residency.

  • Uncover hidden demand signals: Instead of the artist traveling from city to city, fans travel from far and wide to see their idols in one place, creating a unique impact on local businesses. For example, residencies could have a much larger footprint on the accommodation sector as they bring in more out-of-towners compared to tours. With residencies flagged, you can identify this concentrated demand in advance and adjust your strategies accordingly.

  • Save time with automation: Our platform now automatically groups residencies together, freeing up valuable time you can dedicate to higher-level analysis. No more scrolling through endless event data or manually combining data points to see the impact residencies have on local demand patterns. Now you can focus on uncovering trends, identifying opportunities, and making data-driven decisions faster.

Quickly spot concert residencies with confidence and ease

Identify and plan for epic residencies where a favorite artist takes over a venue for weeks. With a clearer picture of consistent demand, you can make smarter decisions about everything from staffing to marketing campaigns. And for those customers with a focus on concerts, your users can now receive clear and relevant information about residencies, keeping them informed without the hassle.

Ready to see the economic impact of concert residencies in action? Log in to your PredictHQ account and explore the power of intelligent event data.