July 29, 2023

Music

Concert prices soar new heights, Fans seek music's biggest shows

Rising concert ticket costs spark frenzied craze among music enthusiasts

By Ellen James July 29, 2023
Resellers drive concert ticket prices to new heights.
Resellers drive concert ticket prices to new heights.

In 2023, the cost of concert tickets has experienced a significant surge, reaching levels comparable to a month's rent or even a mortgage payment. 

Despite these astronomical prices, music enthusiasts remain undeterred in their pursuit of securing seats to witness their beloved artists perform live, particularly following the post-pandemic resurgence in demand for live music experiences.

Initially, face-value tickets may have been within a relatively affordable range, but the situation changed dramatically as resellers entered the equation. 

With the involvement of resellers, ticket prices have escalated to a point where they now exceed four-digit figures.

The prospect of attending a concert of a favorite musician has become a dilemma resembling a "Sophie's choice" for music fans. 

On one hand, they yearn for the once-in-a-lifetime experience of witnessing their musical idols live on stage. On the other hand, the exorbitant ticket prices have forced them to weigh the option of paying essential bills against fulfilling their dream of attending a concert.

The complex interplay of "five major players" in the industry influences the fluctuation of ticket costs.

The promoters, in turn, depend on ticket sales to secure their compensation. Unfortunately, additional fees such as service fees, processing fees, delivery fees, and facility charges often pile up during the ticket purchasing process, as highlighted by the Los Angeles Times.

Ticketmaster has faced significant criticism and scrutiny due to its role in ticket sales, and a notable incident involving Taylor Swift's Eras Tour in 2022 brought the company under the spotlight.