The presence of knowledge capital in the live music industries is evidenced in the high number of consumers reporting a commercial benefit from attending live music, as well as literature outlining the importance of tacit knowledge to technical work around music (Horning, 2004).
Knowledge capital comprises two forms, technological and experiential (Hiser, 1998). The technical skills gained from live music production are broad and can be transferred and adapted to many other professional pursuits. The successful production of a live music event involves a variety of individuals with specific skill-sets working together in order to achieve something beyond their combined experience. Similarly, the organisational and managerial skills gained from live music production are also transferable to other professional and personal aspects of life. As many local-level acts lack the financial capital to employ professional (or even semi-professional) management, the responsibility of booking, organising, promoting and executing successful live music events often falls on the artists themselves.
The basic organisational and managerial skills required for the successful production of live music events are beneficially transferrable to many other professional arenas. Therefore, involvement in live music production provides technical and experiential training that has wide-ranging applications.