English Language · English
Based on the texts, both authors would most likely agree with which statement? Text 1 The live music festival business is growing in event size and genre variety. With so many consumer options, organizers are finding ways to cement festival attendance as a special experience worth sharing. This phenomenon is linked to the growing 'experiential economy,' where many find it gratifying to purchase lived experiences. To ensure a profitable event, venues need to consider the overall consumer experience, not just the band lineup. Text 2 Music festival appearances are becoming a more important part of musicians' careers. One factor in this shift is the rising use of streaming services that allow access to huge numbers of songs for a monthly fee, subsequently reducing sales of full-length albums. With this shift in consumer behavior, musicians are increasingly dependent on revenue from live performances.
- 1The rising consumer demand for live music festivals also generates higher demand for music streaming platforms.
- 2Changing consumer behaviors are leading to changes in music-related businesses.✓
- 3Consumers' growing interest in purchasing experiences is mostly confined to the music industry.
- 4Consumers are more interested in paying subscription fees to stream music than in attending music festivals in person.
Correct answer
Changing consumer behaviors are leading to changes in music-related businesses.
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