Why are concert ticket prices so high?

In the last 10 years, concert ticket prices have skyrocketed. If you want to see Eric Clapton in Toronto it will cost you $125. Elton John in Vancouver? $149.50. Even a ticket to see Tom Jones will set you back $140 (although you would need your head examined if you paid this). So what happened?

In 2002, David Bowie was quoted in the NY Times saying that music downloading has cut into the revenue stream of musicians. No surprise there but it has forced musicians to find other ways to make money. The solution? Tour like crazy and charge as much as the market will bear.

I would be surprised if Elton John made any money on his last album — Peachtree Road (2004). I would be even more surprised if he was losing money from illegal downloads of this album. The point is, Elton John is always on tour. Tom Jones is always on tour. The Rolling Stones tour, tour, tour.

If people are going to pay over $100 for a concert ticket then these bands and musicians will continue to perform live, even if they don’t have any new material to play. The ticket prices will continue to rise until people get fed up and stop coming to shows. Then the music industry will blame poor attendance on concert DVDs and home theatres.

Posted in Music at 10:53 AM