The big ones are getting bigger, and the small ones are becoming fewer. Is this trend, which has already established itself in the economy, now also present in the arts and culture sector? While large arenas are generating massive revenues, small clubs are facing difficult existential challenges that have increasingly come to public attention in recent times. Yet, they are crucial for a diverse cultural offering, as they are not just platforms for presentation, but an integrated part of the culture that ultimately shapes the content just as much as the artist does. While the music industry is grappling with one of its toughest crises ever, major record labels are trying to shift the value creation chain more towards the organization of live concerts and tours.