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Baner Club > Blog > Ecnomics > Why has the cost of concert tickets skyrocketed? Here’s the explanation for the spiral.
EcnomicsEntertainment

Why has the cost of concert tickets skyrocketed? Here’s the explanation for the spiral.

It's not unusual to spend a significant amount of money to watch your favorite major musician perform live, but it seems like concert costs have reached unprecedented heights lately.

Last updated: 2024/06/03 at 12:41 PM
Published June 3, 2024
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While some fans recently voiced dismay over the £145 price tag of standing tickets for Billie Eilish’s 2025 UK leg, others spent upwards of £120 for “rear pitch” standing tickets for Bruce Springsteen’s May 2024 tour.
And while Beyoncé or Taylor Swift tickets were available for £50 (before fees) in the UK if you chose a “nosebleed” seat, they were in high demand and swiftly sold out. Swift’s Eras tour is coming to the UK next week. General admission standing tickets start at £110.40, and front row seats cost £172.25.

When numerous admirers reached the head of the online ticket queue, the remaining tickets were priced at more than £3,000.

What, therefore, is causing ticket prices to rise? The Money blog looks into a few of the causes.

Paying spectators for major events

Put simply, if people voted with their feet, ticket costs would drop.

Runway’s head of operations and booking agent Matt Hanner stated that while rates at the upper end had “risen considerably,” demand was also contributing to the hike.

“We’re seeing a lot more stadium shows, greenfield, outdoor festival-type shows which are now a staple of towns around the country,” he stated.

An increasing proportion of individuals are content to allocate a significant portion of their discretionary income to this.

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