Hello, welcome to Business Daily from the BBC World Service. I'm Megan Lawton.

Today, we're talking live music.

The lights, the crowd, seeing your favourite musician up on stage in front of you, there's nothing quite like it.

Across the world, huge global tours are selling out. Throughout the US leg of her

tour, Taylor Swift grossed an estimated 13 million US dollars. Harry Stiles' love on tour concerts

have wrapped up with worldwide earnings of over 617 million US dollars. Beyonce's Renaissance World

Tour has come to a close, pulling in 579 million US

dollars. And new markets are being added to the Global Tour map. About 13.5 million Indians

are stepping out for events on an annualized basis, outside of movies. But the same can't be said

for smaller venues.

The pandemic hitting when it did was,

it was kind of like a death knell or, you know,

indeed an nail in the coffin for many venues.

In some parts of the world, including the UK and Australia,

the lights are off and thousands of venues are closing their doors.

I think what we've seen is if you have reserves, they are diminishing

and there are those venues that didn't have the reserves that have unfortunately had to close.

In this business daily, we'll hear from musicians, promoters and the people who run venues,

asking why there's such a contrast between sellout stadium tours

and struggling grassroots venues.

We're starting here at this music venue in Leeds in the north of England.

Since opening back in 1913, the two stages at Brudanelle Social Club

...