Tickets or Tenancy?

There has been a large spike in the rise of concert and festival ticket prices, across Europe and the USA. If you’re planning to see your favourite band or artist, expect to pay double the price, as the rate of inflation has of course increased.

In comparison to 2019, the main leaders in live entertainment, (companies such as Ticketmaster, LiveNation and AEG), are some of the biggest culprits.

With the cost-of-living crisis affecting people on a global scale, people are prioritising rent, bills, and food. Of course, inflation plays a huge part in the ever-rising prices of societal factors, but people are now rationing their entertainment.

I conducted research which included both qualitative and quantitative data, and the participants were inhabitants of both Europe, the UK, and the USA.

The participants were aged 18-54 and from a wide spectrum of genders.

Their music taste included, Pop, Rock, indie/Alternative, Hip-Hop, R’n’B, Jazz/Blues, Techno/Electronica, Country, and K-Pop.

A common theme amongst them all, was the worry of having to pay for travel and hotel fees, which of course have also risen.

People are now having to make a conscious choice to miss out on seeing their favourite artist, and reducing their leisure and entertainment time.

“It devalues the customer/fan experience. You may be paying more but the experience does not change for a fan compared to maybe when you paid less. Makes me pick and choose really carefully who I watch live, so I end up missing out on a lot.”

Concert tickets go on sale with a week or sometimes a few days’ notice, and this causes “panic buying”, as stressed by fans.

My study showed that 57% of people are now using payment plans, credit cards and borrowing money, just to secure their tickets. Or ultimately, skipping some and being very choosey based on the price, artist/line-up and location.

Californian-based festival Coachella takes place across 2 weekends in April, on an annual basis; and even though the headliners consist of big names, the hype seems to have worn down over the years.

We’ve seen a crossover of both Western and East Asian artists at the festival, as both headliners and regular performers. This has increased interest and attendance; however, as Coachella live stream via YouTube for free, could it perhaps be a loss for ticket sales?

Although, YouTube and Goldenvoice have a partnership for Coachella, which means revenue will be made for viewers who choose to pay for premium content of the festival.

After all, the point of a concert or festival is being there in-person, and having a first-hand experience. Watching from behind your screen really isn’t the same.

In general, the high-cost of concerts and festivals will in-time have an impact on artists, and attendance numbers are always something that management and record companies will look at. If the show sells poorly, it may not be due to lack of interest, but due to over-inflated ticket prices. Inevitably, artists may not return to particular locations because of it.

“It is worrying, as a music fan. Concerts used to be accessible, now they’re just for those who can afford to pay hundreds of pounds for a single concert. It also means you can no longer go to a festival or concert to accompany a friend or discover new acts.”