China and the Opportunity Window for the Live Entertainment Industry of the United States

摘要

When China first opened its doors to foreign businesses, several manufacturing andindustrial plants were quickly relocated to China to lower the companies cost structure.However, China has been rapidly developing as a country, and has experienced explosiveeconomic growth of the past few decades. With the increase in wealth comes an increase inliving standard, and therefore a desire for a higher quality of life. These changes result in ashift in demand for better products and services, which eventually leads to the demand forluxury products and services, including being entertainment by live performers. This paperwill look into if, why, and how the live entertainment, which has and is continuing tosucceed in the United States, can not only survive, but also thrive in the Chinese market.The three major key success factors for the industry are established as 1) people toattend events, 2) wealth to purchase luxury products/services, and 3) a friendly culturedesiring entertainment. The paper then looks deeper into the success of the liveentertainment industry in various cities in the United States and makes comparisons basedon the key success factors to Chinese cities. Finally the paper ends with personallyrecommendations of how the live entertainment industry and China could greatly benefitfrom each other.