Taylor Swift performs in Texas in April 2023.Photo:Bob Levey/TAS23/Getty for TAS Rights Management
Bob Levey/TAS23/Getty for TAS Rights Management
In 2023, the price of concert tickets has skyrocketed to the equivalent of a month’s rent to as much as a mortgage payment. But that still hasn’t deterred music fans from trying to snag seats to see their favorite artists on tour. In fact, there’s beena post-pandemic surgeto see live music.
Face-value tickets may have started out in semi-affordable territory, but as resellers have acquired them, their cost has reached beyond four digits.
So, how did seeing your favorite musician become a Sophie’s choice between paying bills or a once-in-a-lifetime experience?
Why Are Concert Tickets So Pricey?
According to theLos Angeles Times, “five major players” are responsible for the fluctuation of ticket costs: artists, promoters, the venues that host concerts, the ticketing companies selling tickets, and ticket resellers.
While promoters “officially set the ticket prices,” they can lose money should the show not sell enough tickets. And the biggest artists in music are usually in control of pricing, while smaller artists are usually beholden to the venues.
Venues earn money from promoters to put on the concerts while promoters are paid through ticket sales. Additional fees may pile on, as well, including service fees, processing fees, delivery fees, and facility charges which can show up when you’re set to purchase your tickets, per the Los Angeles Times.
Beyoncé performs in London in May 2023.Kevin Mazur/WireImage for Parkwood
Kevin Mazur/WireImage for Parkwood
Why Is Ticketmaster a Huge Part of the Problem?
WhenTaylor Swiftfans tried to purchase tickets to the singer’sEras Tourin November 2022, via the Ticketmaster websitechaos ensued. Some potential ticket buyers were locked out of the sale when their Verified Fan codes failed to work, while others were initially able to secure tickets, only to lose them and get kicked out of the process once they tried to check out.
Not only didtwo dozen Swifties file a lawsuitagainst Live Nation Entertainment, Ticketmaster’s parent company, they took their complaints against Ticketmasterall the way to D.C.The U.S. Justice Departmentlaunched an antitrust investigationinto Ticketmaster’s parent company Live Nation Entertainment, according toThe New York Times.
The company chalked the disaster up to “historically unprecedented demand,” though Swift had some choice words for the company in her response, noting that she and her team had “asked them, multiple times, if they could handle this kind of demand and we were assured they could.” TheMidnightsmusician also wrote that the situation “really pisses me off” and that she was actively working on a solution for her fans.
How Is Ticketmaster Planning to Fix Its Ticket-Buying Process?
Starting later this year, there will be more clarity when it comes to buying concert tickets throughTicketmaster and Live Nation.
In June, after PresidentJoe Bidencalled out “junk fees” and hidden fees on concert tickets throughout the past year, several ticketing companies including Live Nation Entertainment, which owns Ticketmaster, vowed to start displaying all fees to customers upfront.
Live Nation said the new policy will roll out in September, according to aWhite House press release.
Adele performing in Las Vegas in November 2022.Kevin Mazur/Getty
Kevin Mazur/Getty
How Are Resellers Affecting Ticket Sales?
There has always been a secondary market for tickets on platforms like StubHub and SeatGeek. During on-sales, “brokers compete with fans for seats” with employees or bots, which creates less supply for concert fans.
The aforementioned GAO report also revealed that promoters sometimes will feed tickets to brokers “to capture a share of higher secondary market prices without the reputation risk of raising an event’s ticket prices directly.”
The seller generally sets the price of resale tickets, but some sites suggest those costs. That’s where the prices can surge, according to theLos Angeles Times.
“This is a truly market-driven platform,” StubHub spokesperson Jessica Finn told the outlet. “So this is really about what sellers think that the price, the value of the ticket is, and what buyers think the value of the ticket is, and they effectively agree on it with a purchase…. It’s very much a dynamic marketplace, prices go up and down and we don’t meddle with that.”
SeatGeek confirmed to theWall Street Journalthat that the average price of a concert ticket has doubled in the past five years, increasing from $125 in 2019 to $252 in 2023.
Bruce Springsteen performs in May 2023.Jane Barlow/PA Images via Getty
Jane Barlow/PA Images via Getty
Which Artists Have the Most Expensive Ticket Prices?
The biggest artists in music are those who have the most competitive ticket prices:Taylor Swift,Bruce Springsteen,BeyoncéandAdele.
According to Seat Geek per theWSJ, the average price of a resold Taylor Swift ticket is $1,311. Beyoncé and Bruce Springsteen tickets have soared to $480 and $469, according to the company.
source: people.com
