What is the average concert ticket price over time?
What is the trend of Average Concert ticket price over the years?
There is also truth in the fact that the price of a ticket to any concert has risen tremendously within the past several decades. Since artists depend on touring as their main source of income, concerts costs have increased due to high production costs. When comparing the average price by time, it is easily seen that the costs are rising steadily.
During The Mid-Twentieth Century: (1940s–1960s)
When it comes to ticket price, people could attend concerts for rather cheap prices if we speak about early-to-mid-20th century. Some of the prominent artists who used to perform for few dollars included Frank Sinatra, Judy Garland and Elvis Presley, among others. Such tickets would typically cost between $10 and $25 in today’s USD when the price has been adjusted for inflation. The venues were smaller and the production costs were much lower than contemporary stadium tours associated with a complex of lights, screens, and effects. In 1994, the average concert ticket cost somewhere between $15 and $20 when adjusted for inflation.
The 1970s and 1980s
It is noted that as rock music evolved and became more popular in the 1960s and ‘70s, bands started playing in large arenas and stadiums, and accordingly, tickets became more expensive as well. By the late 1970s, the average ticket price was in the $25-$35 range, and the upper echelon of bands like the Rolling Stones and Led Zeppelin were charging well over $100 for the best seats. Travel costs, costs of equipment transport, and construction of ramps and stages saw promoters and bands demand higher fees. This meant that by the average tickets moved through the turnstiles were in the $40’s and above in the ‘80s, which equals $90 today.
The 1990s Boom
The possibility of high ticket price was evident in the 1990s, regardless of the styles and genres of music. Live music audiences began to appreciate that fans were willing to invest heavily for their preferred artists. Icons, like Madonna or Michael Jackson, for example, sold tickets for considerably more than $100 on average, which in today’s money would be $200. Some of the rock bands with a steady following like Pearl Jam, The Eagles and The Rolling Stones, were charging $100 or more per chair. Of course, even bands that have been around for years, such as The Who and Paul McCartney, also performed live in arenas and the average cost per ticket back then was $75-$125 today. In general, average ticket price for concerts in the ‘90s was above $50+ in today’s values, with most genres having an average ticket price above $100 for concerts.
This is the 21 st century Race to the Top.
Towards the turn of the new millennium, promoters continued to jack up ticket prices because they were fully aware that the faithful would be in attendance no matter the cost. Reunions in large rocks bands like The Police, Led Zeppelin, and Fleetwood Mac boasted average ticket prices of $200–$400+. Pop/rock shows by artists who have been around for long time used to take $100–$250 for a seat. Even the contemporary pop stars, including Taylor Swift, Beyonce and Adele, do not let their audiences breathe, and $150–$400 were expected for good floor seats. Country music also chipped in, as artists such as Garth Brooks were asking $300 for the best seat in the house. Across all genres of music, it was calculated that average ticket costs ranged between $75 and $250 today. What is more, it is quite obvious that concert prices do not decrease year after year, but just the opposite-they increase.
The question ‘Why Do Prices Keep Going Up?’ is one of the most asked questions people have, especially when they are facing rising prices of goods and services being offered.
There are a few key reasons average concert ticket prices have soared over the past few decades:
Artist Guarantees: It has become the norm now for performers to be given 85–90% of the ticket revenues of the show per show because of guarantees in their contracts. They earn most of their money through touring, not necessarily from record sales. These guarantees contributed to the pressure on promoters to increase ticket prices.
Production Costs: Concerts today are large performances—large screens, lights, fireworks, rolling stages, and such expenses run into millions of dollars per concert. All these costs are then included in the ticket prices We have prices, off-peak prices, and other miscellaneous prices.
Demand: That is why promoters continue to charge more per ticket to the extent that superfans are willing to attend and pay for tickets at these inflated rates. At such high prices, most of the shows are still on sale commercially, with audiences buying tickets as soon as they go up for sale.
Dynamic Pricing: They have today employed computer applications that automatically set ticket prices according to demand to maximize on their revenues. Some of the premier positions continue to become costly; at times, they are far from cheap.
The question that seems to be coming up for answer in the following sections is whether an end to price inflation seems likely.
Considering the price level increase in decades, one cannot find any signs that ticket expenditures may stabilize. So long as people continue to purchase CDs, DVDs and other merchandise, one can easily predict that prices will remain high throughout various kinds of music and concert events. It then arises the query: what price becomes unendurable even for the most loyal of fan base? This fact implies that inflation is present in all sectors of the economy and therefore it has implications on concert tickets. In any case, average ticket prices should continue to escalate ‘to the top’.
This cannot be undone and even though people have been used to buying ticket for $20 to watch their favorite artist perform, this is something that we will never see again. Fans now simply accept having to pay hundreds of dollars for the best event tours. But many, and still are, take place every night in thousands of other less spectacular, less glamorous, yet more affordable music venues. As long as you don’t go too big and look for stadium-level big bands, you can have local bands that, for some reason, play your town on the weekends at a reasonable price. So go out there and have great live music experience!
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