The price of watching with your favourite band is becoming steeper — and some buffs are staying far as a outcome.
The average selling price of a concert ticket during the initial six weeks of the year was $46.69 — 4.2 per cent higher than the normal price tag of the ticket for equal span this past year, as stated by the most recent statistics from music industry publication Pollstar.
That selling price is all but 7 percent higher compared to the normal for all of 2000, and also an even more startling 43 percent increase over the concert tickets cost only three years ago, based on Pollstar.
But while lodging charges are steadily rising, ticket earnings are not after lawsuit.
Approximately 10.9 million tickets were sold throughout the very first 1 / 2 of the calendar year, down 15.5 per cent from the 12.9 million tickets sold at the initial 6 weeks of 2000. Gross earnings also fell to $508.2 million from £579.3 million for the first 1 / 2 of last year, states Gary Bongiovanni, Pollstar editorinchief.
The recession in the market may possibly have kept some buffs out in the parking lot this past year, while the superior price of several of the calendar year’s latest tours is most likely prompting concert-goers to be more discerning, says Bongiovannisaid
Billy Joel and Elton John’s “face to face” tour was the most expensive of the very first half using an average ticket cost of £100.95, based on Pollstar. U2’s “Elevation” tour, the highest-grossing action of this first half of ticket sales of $69 million, boasted the average ticket value of $76.18. Some U2 tickets offered for as high as £ 130.
Top Grossing Tours
And there are no indicators of downturn at the next half of 2001. Tickets such as the Material Girl’s Exhibits at the MGM Grand in Las Vegas Can Sell for around £ 350.You can get best deals on cheapest-concert-tickets.com
“The very sexy acts are going to soon be able to command pretty much that they desire,” claims Bongiovanni. “The predicament may be that the acts which aren’t on someone’s must-see list. Even though you should be a true major fan, you have got to get your choices.”
Dahlit Ehrlich, 25, of New York chose to sit down the concert out. While she’s a significant fan of Clapton, she located the ticket rates overly costly at £ 80. But this didn’t stop Rob Garcia, 28, that spent more than $100 for ground chairs to the show.
“If I really like a set that I would like to see, ” I will spend the money,” says Garciasaid
Contain the Scalpers
Though people could complain about the high cost of seeing Madonna, ” Bongiovanni claims that the music sector is simply reacting to advertise requirement. At the mid-’90s, concert and artists promoters began acknowledging that many of individuals sitting in the most useful seats have bought their own tickets from scalpers, regularly paying hundreds of dollars greater than face value.
Since the industry wasn’t seeing any one of the profit, theater organizers chose to get started charging high prices to find its very best chairs. Pink Floyd was the first stone group to adopt this particular pricing version around its world tour in 1994, states Bongiovanni.
From 1999, nearly each concert tour had embraced the tiered system of ticket pricing, as evidenced in the striking 18 percentage jump at the normal price of a concert ticket this season.
Concert Events … A Luxurious?
Other industry watchers note that consolidation in the concert business, combined with ever rising assistance charges and centre rates, will help to fuel the development in ticket costs.
“I think that the proliferation of national traveling and the rivalry one of the few separate promoters that keep on being contrary to the more expensive companies has driven ticket costs rather high,” says John Scher, president and ceo of Metropolitan Entertainment Group, which makes concert tours each in the Northeast and nationwide.
Scher says he thinks that concert tickets costs have grown to the point whereby attending a musical function has gotten far more of a luxury thing for many Americans. And though that might be the case, he will not observe that fad lowering any time in the future.
“My experience was that whenever the economy has significantly weakened, the concert business have never weakened,” says Scher.