Assessing complementarities between live performances and YouTube video streaming.

Digitization and increased accessibility to recorded music have made revenue-generating activities increasingly tied to live performances. In this context, identifying the full impact of concerts (namely capturing the value of activities that emerge as a consequence of them) is of primary interest to assess the sustainability of the different music ecosystems. This paper analyzes spillover effects from playing live to YouTube video streaming. A sample of 190 artists performing in two international music festivals in years 2016 to 2019 has been selected, and the temporal patterns of online video searches for each one have been collected. Using a regression discontinuity design, results show a discrete jump of the YouTube search index for the average performer in the sample after playing live. Furthermore, there is evidence of a gender-specific effect: female performers experience a greater increase in YouTube searches. Though exploratory, this gender bias is consistent with potential theoretical explanations to be explored. Overall, findings provide causal evidence of the effect of live performances on a related but different market (i.e., recorded music), which underlines how technological disruptions may enable alternative revenue sources for musicians.