Ohio's Concert Venues Struggled to Turn a Profit in 2024, Data Shows

UPDATE: In addition to the National Independent Venue Association's The State of Live report on concerts across the country, the Cleveland Independent Venues Association, in collaboration with Cuyahoga County Executive Chris Ronayne and Destination Cleveland, has released data unique to Cuyahoga County's independent music and comedy scenes. Cleveland was one among six places in the United States to gather city-specific data pertaining to NIVA's study. The others are Chicago, Denver, Minneapolis Portland and San Francisco, which are music hubs in their own right.

Cleveland's independent venues are those not operated by AEG or Live Nation, such as Music Box Supper Club, Hilarities, the Grog Shop, Beachland Ballroom & Tavern, Happy Dog, Imposters Theater, Severance Hall and the Rock & Roll Hall of Fame, plus festivals like Tri-C Jazzfest, Brite Winter and Larchmere Porchfest.

According to the numbers, Cuyahoga County's independent venues functioned above average in 2024, with a total economic output of $1.17 billion. This number includes $452 million in wages, distributed to nearly 3,000 direct employees at a rate that exceeds the national average for wages. The digit also includes profits gained from serving more than 723,000 fans at shows. They're accounted for in $38.5 million of tourism spending, $25 million of that including off-site expenses like lodging, food and transportation. This reflects Cleveland's strength as a destination for out-of-town concertgoers.

Despite significant earnings, though, only 25% of venues were able to utilize this output to turn a profit. This falls below a national average of 36%, but above Ohio's average of 20%.

The Cleveland Independent Venues Association cites increased tourism spending as a potential area that can mend this deficit. Read more below about NIVA's nationwide report to understand the extent of independent venues' profitability struggles.

Ohio is a proven trailblazer in the entertainment industry with 312 independent venues and festivals, the ninth most in the country, according to the National Independent Venue Association. Several of these reside in Cleveland, and that influx of small, local stages provides security and exposure for both established and up-and-coming artists: those that craft the city’s music scene.

NIVA's recent The State of Live report tracked the economic impact of these independent venues through surveys, venue data and federal statistics, among other research. Its findings show that of roughly 153,000 events conducted at independent venues across the nation in 2024, $153.1 billion was produced in economic output, which created memorable experiences for nearly 184 million fans and provided waged jobs for 908,000 positions. Of that output, $3 billion came from Ohio alone, servicing nearly 22,000 jobs and over 5 million fans. These stats rank among the top 10 in the country.

However, NIVA’s study revealed only 20% of those local spaces operated with profitability in 2024 — compared to a national profitability of 36%. This raises a question of where that money is going.

The reality: Concerts are getting expensive. As the economy becomes more demanding, so do artist costs, concession costs, employee wages and venue rent, according to NIVA’s report. Ticket fees have skyrocketed and scalpers have made resale prices unattainable for even the affluent concertgoer. While corporations like Live Nation and Ticketmaster are able to rake in extra fees, local entities are pushed to their limit.

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“Independent stages are proven community anchors and should have a seat at the table when leaders set priorities for economic growth and cultural investment,” NIVA executive director Stephen Parker said in a press release.

Here in Ohio, state senator Kent Smith introduced Ohio Senate Bill 186 in April, which will protect money for the independent venues and support an ongoing movement to slow the monopoly of industry giants. If it passes, the “music incubator program” will earmark sales tax rebates for independent venues and festivals, which can help with marketing and booking opportunities. Those eligible for the rebate would have to meet certain criteria and provide written documentation of how they will spend the funds.

“We are facing stiff financial challenges that put these cultural and economic contributions at risk,” Sean Watterson, co-owner of Happy Dog and chair of the Ohio Chapter of the National Independent Venue Association, said in a press release, “which is why we support Ohio Senate Bill 186 — the effort to establish an Ohio Live Music Fund to support these small businesses and the jobs they create.”

With heightened awareness of these systemic issues both statewide and nationwide, NIVA reports that 49% of venues deemed not profitable hope for conditions to improve in the next year.

"We have known for years that Ohio's independent venues are gathering places, community anchors, and economic development catalysts," senator Kent Smith said in a statement. "Today's release of the NIVA Ohio report confirms the importance of these businesses as key contributors to both the quality of life and our tax base. I look forward to working alongside Representative (Jamie) Callender and any other member of the Ohio General Assembly to strengthen these critical assets."

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