But why the Skyrocketing Prices?
Ticket Alternative Bluett says. For Coldplay’s A Head Full of Dreams Tour, which grossed $523 million in 2017, a stadium performance called for multiple stages and Xylobands, interactive LED wristbands the band introduced during its Mylo Xyloto Tour. For Swift, that meant giant inflatable snakes, mega screens, a fountain, fireworks and a plethora of dancers. Behind the show audiences experience is the cost of what goes into making it possible, like bringing in the “steel,” the sound and the lighting.
But with the advent of the internet, online ticket exchange companies like StubHub (get StubHub coupons) and Verified Tickets by Ticketmaster made selling, upselling and purchasing tickets easy and reliable. Technology made it possible for the secondary ticket market to take off. Yet, even in a secondary market, prices reach a natural cap. Realizing that fans purchased tickets on the secondary market for much more than the original price, concert promoters started boosting ticket prices.
Gone are the days when the only way to get up close and personal with your favorite performers was to wait outside the back door of a venue hoping to catch a glimpse as they hurried into their tour bus. Ticket sellers now have the ability to “service the ‘super fan,'” Bluett says. Music fans today will find plenty of opportunities to attend special events like meet and greets, photo ops and soundchecks. The more merchandise you buy or the more you interact with the artist, on social media, for example, the better your status and ability to score early tickets to a show that might sell out or gain access to special offerings. There are multiple pricing levels that offer exclusive experiences and interactions with the artists.
The cost of creating these ephemeral wonderlands has to get passed on to the consumer via the ticket price. While it might seem like the increased competition of more bands touring and touring more often should make concert attendance more affordable, consumer demand has kept pace, which drives up the price. With multiple bands performing and one ticket price to pay, “festivals are probably still the best value for the money.” Nevertheless, 2019 Bonnaroo general admission tickets start at $279, and VIP tickets are $825. Despite high production costs, the concert business is booming. Bluett says. He points to the expanding festival market as an example. Even multiple-artist shows that seem like a good deal offer room for profit.
