It’s a rite of passage for every teenager to see their favorite artist live and in concert, a rite that, as the years goes on, costs more and more to realize. Why do ticket prices rise? Blame yourself.
Less than 50 years ago, a concert ticket could go for ten dollars, a price that, taking inflation into consideration, amounts to approximately $25 in 2018. While it’s true that 21st century concert tickets can cost about $25, typically tickets of that price are for smaller artists at smaller venues. At a venue like TD Garden, tickets can easily reach prices upwards of hundreds of dollars. The same can be said for Gillette, or any other major national stadium. Middle range venues like the Xfinity Center sell tickets ranging anywhere above or below $100, however tickets of the latter are often for the worst seats in the house. Even the concerts of up and coming artists can cost more than the hottest tickets of yesteryear. In fact, industry experts report that ticket prices over the last 20 years alone have tripled.
Many blame the decline in record sales for the sharp increase in ticket prices. Years ago, artists made their money by selling records, promoting those records through touring. In the year 2000, CD revenues alone reached upwards of 13 billion dollars, however since then, the record industry has plummeted. Digital music has taken over, with streaming services like Spotify and Apple Music changing the industry even further. If a tour is now the means through which an artist must make the majority of their money, it would make sense that ticket prices have soared. However, record sales may not be the leading factor in this dilemma.
In the last decade, as tickets have continued to rise in price, the concert ticket industry has still reported record-shattering sales. So why do fans continue to buy? The answer might in fact be in the question itself. Fans continue to buy because they are fans. They want to see their favorite artists in concert, and are willing to spend the money necessary to secure a seat.
So in short, concert prices rise because we let them. As long as people find it acceptable to shell out hundreds of dollars for one live performance, ticket prices will continue to rise. The ticket industry will only reach its capacity once consumers stop buying. Once they do, who knows how the music industry will evolve. In truth, the explanation as to why tickets prices have risen is multi-faceted. There are many factors that contribute to rising ticket prices, one of which is most definitely our society’s demand for live performance. Time will tell how much longer it will be before this demand reaches its capacity, but as consumers, we do have a say in the prices of our goods. If we are unsatisfied with the price of concerts, boycott high priced tickets. Until this becomes common practice, seek out local shows and rising artists. After all, just as we listen to the music industry every time we press play, someday, the music industry will have to listen to us. Hopefully then, the price of tickets will finally change for the better.
In order to find out, one must examine the numbers and potential factors affecting the market.