Look at the pros and cons of each and then decide which is going to work best for your situation.
When it comes to price, a band is definitely the more expensive way to go. The cost varies based on city, number of performers, day and time. For a four to five hour event the cost for a band can be anywhere from $1,000 to $2,500 while DJ's range from $400 to $1,000 depending on the services provided.
Most bands do not have the lighting effects a DJ can offer, & even some DJ's really lack in good quality lighting. Good effect lighting really helps to get your event pumping. Make sure your band or DJ can supply your needs.
A band will need to take breaks, so there will be pauses in the action. But as some say, there's nothing like live music!
Consider music variety when it comes to music for your event. You will want a good mix of fast and slow, old and new, and songs that everyone will know and dance to! DJ's definitely have the advantage in the area of music variety. They can typically get and play any song that has been recorded. Some bands may not know everything off the top of their heads and some songs will sound differently than you remember them because they are the band's own interpretation. The songs that DJ's play will sound exactly as you remember them. Also, a DJ can be more versatile. DJ's can go from pop songs right into country, disco, or big band without any problems. Think about the songs that you absolutely have to hear at your event, for example: The first dance for your wedding reception. If the band isnt willing to learn your song, then you might want to consider the DJ.
Also consider the amount of room available at your event site for the band or DJ to set up. Bands typically require a larger area than DJ's to contain all of their equipment and musicians. Be sure that you have enough space for your band or DJ to setup, and still have room to dance the night away without falling all over each other. If your event area is on the small side, a DJ may be better than a band because our equipment will take up less room than a band.
Volume control is also very important in making your selection. A band consists of many musicians and many amplifiers, getting a good mix takes the skill of an excellent sound man to match it all together. Some bands have a great sound man; others may have no sound man at all forcing each musician to try to match his volume with the rest of the band. This is very hard to do when you're on the stage playing and not listening from 50 feet back. DJ's on the other hand can set the volume control so your guests can still hold a conversation as the music plays.
If your decision is to go with a band, consider a DJ too! Most bands will not serve well as a MC (Master of Ceremonies) for making introductions & announcements that are vital in order to make your event a success. We have done this on occasion serving as the Master of Ceremonies and filling in music during band breaks.
Make sure that you arrive at a decision that you and your guests will be happy with.