Concert ticket prices have been skyrocketing, leaving fans wondering where all the money is going. From Bruce Springsteen to Billie Eilish to Taylor Swift, ticket prices have been reaching new heights, with some fans shelling out hundreds of pounds for a single ticket.
So, who is really responsible for these crazy prices? According to industry experts, it’s a combination of factors. The growing demand for big spectacles and larger-than-life shows has led to an increase in ticket prices. Artists are now putting on more stadium shows and outdoor festivals, which come with higher production costs.
Additionally, rising costs across the board, from venue hire to staffing to insurance, have all contributed to the surge in ticket prices. Inflation has also played a role, with the cost of living crisis impacting everyone in the industry.
But are artists being greedy? While some may be earning millions from their tours, it’s not as simple as it seems. Promoters and other stakeholders take a significant cut of the earnings, leaving artists with a smaller share. However, some artists have been critical of the high ticket prices being charged, with some even capping prices to make shows more accessible.
Ticketing website fees and VAT are also major contributors to the high cost of concert tickets. Sneaky fees and charges can add up to 20% to the ticket price, while VAT in the UK is set at 20%, putting the country out of step with other markets.
Overall, the surge in concert ticket prices is a complex issue with multiple factors at play. While major stars may be raking in the profits, lesser-known acts are struggling to compete in an industry that is becoming increasingly expensive for both artists and fans.
