The market for in-person entertainment and business gatherings could grow from roughly $700 billion in 2024 to about $1 trillion by 2030, according to an estimate from Providence Equity Partners, as demand for shared experiences continues to strengthen.
The investment firm said the so-called “IRL Economy” – covering concerts and theatre, live sport and trade shows – had shown unexpected resilience since the pandemic. Rather than permanently shifting towards remote and digital activity, consumers and businesses have increasingly sought opportunities to meet in person.
One example is London’s West End, where more than 17.5 million people attended shows in 2025. That was nearly 15% above pre-pandemic levels, suggesting that theatre audiences have not only recovered but reached a record high.
Demand for in-person experiences
Providence said the renewed appetite for physical events reflected a broader reassessment of society’s relationship with technology. Research increasingly points to personal interaction and community as important to health, alongside exercise and nutrition.
Activities once viewed as discretionary are consequently being treated as important sources of connection. The firm said the more people are drawn towards a frictionless digital world, the stronger the appeal of genuine, face-to-face experiences can become.
Technology is also helping to increase the visibility of time spent offline. Concerts, sporting events, restaurants and holidays feature prominently in online posts, allowing people to share their experiences with others and giving digital users fresh material to discuss.
That interaction between the physical and digital worlds is helping to drive demand, Providence said. The expansion of the sector is expected to require significant investment in venues, production facilities, logistics, technology and new event concepts.
Unlike the technology industry, the IRL Economy is relatively decentralised. Providence estimates that at least 28,000 US companies are primarily involved in staging live performances, running spectator sports, promoting events or organising trade shows.
Although large operators such as Live Nation have attracted scrutiny, the firm said the wider sector depended on a complex network of smaller and specialised businesses. These include companies involved in production, staging, transport, venue operations and event technology.
There are risks to the expansion, including ticket prices becoming unaffordable and the growth of premium hospitality reducing the shared experience at sporting events. Providence said businesses that took advantage of their supporters could ultimately face a backlash, but it did not expect underlying demand for live experiences to disappear.
The firm argued that the growth of advanced digital technology and the renewed appetite for real-world events should not be viewed as competing trends. Screens can provide access to information, entertainment and communication, it said, but cannot replicate the atmosphere of a packed stadium, a live performance or a face-to-face business meeting.
