Considering the cost of concerts
Millions worldwide spend vast sums of money to see their favorite artists in concert. To many, though, the price is not worth the experience, and it seems ticket websites are taking advantage of fans.
COVID-19 and rampant inflation tremendously impacted the price of tickets. According to The Post, various factors have led to post-pandemic ticket prices skyrocketing an extra 32%. Even though fans pay far more, compared with the past, they often still attend as many concerts as possible. Why? The experience. The feeling of seeing your favorite performer live, spending time with friends, dressing up and screaming at the top of your lungs is worth every penny.
But should people spend as much as they are for a couple hours of singing and dancing? This question was asked to a couple of Liberty University students, and they all had the same answer: “It depends on where the seat is and who is performing.”
Customers should consider the price, seat and performer for a concert ticket. Events like these can be incredibly special and unforgettable. This is why Statista noted that concerts and music festivals had more attendees the past two years than they had in any prior years.
After pandemic lockdowns and changing restrictions, there is a shared appreciation for the freedom to attend and enjoy live music in a concert setting again.
According to Variety as of Nov. 15, 2023, one artist in particular, Taylor Swift, has sold over four million tickets for her iconic Era’s Tour. According to The Economic Times, she makes over $13 million per concert and has amassed a net worth of $1.3 billion since she began her tour March 17, 2023. Swift is continuing over 17 months of straight touring.
Due to her performing to sold-out arenas three times in a row, a city’s economy can show significant growth in the small amount of time she performs. Thousands travel to see her in a specific city or for a once-in-a-lifetime opportunity to watch her onstage. She has become the ultimate expectation for concert goers.
Ticket sellers are starting to increase the prices on other artists, knowing fans are willing to pay. Thousands of fans wait in queues with hopes to see their favorite artist in concert, often not realizing how much money they are about to spend. This is especially true when considering parking costs, transportation costs and other hidden fees.
While some prices are reasonable, many are not. Therefore, lots of people cannot go to a concert and experience the joys that come with them. Ticket sellers should lower the cost of the tickets to make it easier for customers.
Concerts are a great way to spend time with friends and see your favorite artist perform live. In this economy, prices will be expensive, but I believe depending on who you are going to see, it can still be a great night even after seeing the price tag. Setting a budget for yourself on how much you are willing to spend for a concert is important.
Whether you are spending $50 to watch your favorite Christian artist or $500 to see Taylor Swift, it is entirely up to you. Some of the best college memories can come from seeing your favorite artist live with friends.
Young is an opinion writer for the Liberty Champion.