Concert Tickets Are Indeed Getting More Expensive

December 31, 2019

There was once a time you could buy concert tickets (and pretty decent seats too) for the cost dinner and wine. But today, going to a concert can easily hit your wallet as hard as a weekend vacation! From 2015 to 2019, average ticket prices for the top 100 tours in North America rose from $73.86 to $94.83.  That's a 28% increase in just 5 years. So what happened?  Well the music industry took a page from the airline industry. Ticketmaster, Live Nation and others now offer dynamic pricing, so that ticket prices rise in real time along with demand. Concertgoers are now also weathering the creation of “premium” aisle seats, which set you back as much as $30 extra. Perhaps it is why ticket sales are only up 5% from last year, but those who are buying those tickets are paying a lot more. However you are indeed getting a show. Production costs has grown a staggering 91%, from roughly $674,000 in 2010 to an estimated $1.29 million in 2019. Lady Gaga averaged $288 this year in her Las Vegas residencies, and the Rolling Stones averaged $226. Keep in mind that these averages include the prices for not-so-great seats. So $300 tickets for not-so-great seats may soon be the norm!

SOURCE: Fast Company

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