Throughout the year, a lot of music concerts take place. It is an event when audiences get to listen to their favorite artists perform live. Witnessing the concert of the favorite artist is a dream for most people. But, right now, it is coming to see that the concert tickets have become more expensive than ever. Mostly, it is the younger audiences who get excited about music concerts. But, it is becoming extremely difficult for all to attend a concert due to the expensive tickets. There is a huge increase in the amount of concert tickets; hardly any people are able to afford them. The economic status plays a huge role in this matter. In this unstable economy, the surge in everything has become huge. And it has impacted the concert tickets on a large scale. Let’s find out the reason behind this sudden rise in ticket prices-
1. More operational expenses:
Right now, it is coming to see that the operational expenses have increased more than ever. The music industry is now more regulated, which led to more taxes, safety regulation price increases, and more staff pension. The price of all these has increased more than ever. Along with that, the venue price in popular cities has totally skyrocketed. In the top-tier cities, when a concert takes place, the venue cost is massive. Along with that, the security measures have increased more than ever. Previously, a concert didn’t have to pay such high prices for all these. That is why, an arranging a concert wasn’t this expensive. As all these layers have been included, a huge impact has gone to the concert tickets. It is one of the major reasons why concert tickets have increased so much in recent times.
2. Massive production cost:
If you observe modern music concerts, you will get to see that the use of advanced technology has increased. Now, if you go to a music concert, it is presented like a show, larger than life. The stage designs have evolved; expensive special effects have been added. Just preparing the stage for a show now requires a huge amount of money. With each passing day, new expensive features are being added to make a concert even grander. When such things are being taken care of in a concert, automatically, the price of the tickets increases. Along with that, when big artists come for a concert, they come with a huge crew of members to ensure a seamless execution. Presently, a huge focus is on sound design and light engineering. All these are considered one of the most important parts of a concert. These are other reasons for the increasing price of the tickets.
3. VIP packages:
VIP packages have become one of the biggest things at a music concert. In every concert, there is an ‘experience’ or VIP segment differently. People are now so engrossed in a music concert that they are ready to pay extra prices to experience perks like early entry, exclusive merchandise, a closer view of the stage and their favorite artist, meet-and-greet, and more. This is creating a huge demand for tickets, which is leading to a price increase for every ticket. Those who can afford these VIP tickets don’t have to go through any difficulties, but it is with the general tickets that they are not giving standard tickets as well. Now the managements are wishing to push as many tickets to the VIP segment for more profits.
4. Dynamic price range and resale market:
When the tickets go live on the mainstream site of a concert, there is a dynamic range of tickets. All the tickets on these sites change their prices according to demand. When people are willing to pay the extra bucks for a better location at the concert, they simply increase the price of those specific tickets. This makes it quite difficult for the common people to get a ticket for a concert. On the other hand, in the resale market too, the tickets are sold at a high price. People resell tickets at a higher price to make a profit. In addition to that, there are many people who buy as many tickets as possible and resell them in bulk at a much higher price. It is another reason why the ticket prices of a concert have increased more than ever.
5. A shift in revenue:
Right now, it has been observed that the source of revenue has shifted. Now, people do not buy physical copies of an album anymore, but they rely on streaming platforms. Thus, it can be said that the artists cannot make much money from selling an album. Hence, they also have to rely on their tour and show to make money. When the shift in revenue has taken place, they are trying to earn as much money as possible from their ticket sales at a concert. It is quite a concerning situation that the price of all the tickets has been increasing in recent times. Thus, it is another reason why the ticket price has risen so much now.
These are some important reasons why the ticket prices have increased so much in recent times. Due to all these reasons, so many fans are not getting the chance to see their favorite artists perform live. At such a time, fans can try out a few ways that can help them to get tickets at a much lower price. Here are some of them-
ü Go for alternative venues:
When you are trying to get a ticket for a show of a specific artist, you can try to go to an alternative venue. Try not to attend the show in a big venue, but check whether they are performing in a smaller venue or not. The venue is small; the ticket price also gets a little cheaper. If you can implement this specific strategy, then it can be useful for you to get a ticket at an affordable price.
ü Get the ticket at presales:
During the presales, the ticket price is much lower. For this, you need to be really quick. You need to be prepared to book the ticket as soon as it goes for presales. If you can do so, then you can secure a ticket at a much lower price. It can be a great strategy to save you some money. Thus, it is another strategy that can be helpful for you.
ü Wait for the price drop:
A lot of the time, it is seen that the ticket price drops after going live for some time. If you want to grab this chance, then you need to check the prices of the tickets every now and then. If there is a chance of the price dropping, then you will get the chance to get your hands on them right away. Thus, it is an effective strategy that you can implement.
The escalation of ticket prices has been massive in the past few years. If you truly want to attend a concert, then you can use the right strategy and fulfill your wish in a much easier manner.
