How to define what was the highest-grossing concert tour in the history of music?
It is important to note that the very definition of what qualifies as the largest-grossing concert tour of all time is not as cut and dry as one might think. This is because many factors come into play when arriving at these numbers; factors like the total gross revenue, average revenue per show, total attendance, average attendance per show, length of the tour, the number of shows, and so on, the rate of inflation over the period in question and so on. Due to the numerous factors influencing the game, there is always controversy as to which tour is the rightful champion.
There is one big question mark: inflation adjustment. Adjusting for inflation is useful to compare how much different types of tours have cost over the years. Such value alters so dramatically over longer periods, that failing to account for it and not inflating ticket prices as a result can lead to skewed results. When comparing two concert tours that are years apart, most analysts will agree that inflation adjustments are crucial.
This paper seeks to determine the highest-grossing concert tour concerning total gross earnings, with consideration being given to inflation.
Total sales with inflation factors included
Concert tour gross receipt statistics indicate that the current record holder for the highest-grossing concert tour ever is the U2360 Tour which was done by the band U2 in 2009-2011. With inflation, this tour grossed approximately 736 million dollars. It surpassed The Rolling Stones’ A Bigger Bang Tour of 2005-2007 which generated around 558 million inflation-adjusted dollars.
Before the U2360 Tour came and shared the record, many thought that The Rolling Stones tour was the most lucrative one in history. The one aspect that put the difference in the favour of the U2 tour was the fact that they could earn substantially more revenue by performing for larger crowds in large stadiums and arenas. While The Rolling Stones had about 20000 people per concert, U2, in contrast, had around 66000 people per concert.
Some key stats about the U2360 Tour’s revenue and attendance:
- Total Gross Revenue: It comprises over $736 million.
- Number of Shows: 110
- Total Attendance: 7,268,430
- Average Attendance per Show: Sixty-six thousand eight hundred.
- Average Gross per Show: 6,700,000 $
When adjusted for inflation, the U2360 Tour surpassed all previous highest-grossing concert tours by a wide margin. For instance, the Rolling Stones's A Bigger Bang tour and Roger Waters's The Wall Live tour both made more than US$ 500 million in current dollars. U2360 was more than 202 million dollars higher than the next highest-grossing touring act.
What Were The Key Factors That Made U2360 A Success Story?
Several key factors enabled the U2360 Tour to become such a monumental financial success:
- The tour was accompanied by a colossal setting, which included a 360-degree stage with three smaller stages and a cylindrical LED screen. This meant that more attendees got to engage in the experiences they were offered.
- Attendance Volume – The tour featured over 7 million attendance volumes which included extensive legs across Europe, North America, South America, Australia, and New Zealand.
- Length and Song Variety - Their shows ranged between twenty to twenty-four songs and included popular U2 songs from different periods.
- Good Supporting Bands – Bands such as Snow Patrol, Muse, and Black Eyed Peas complemented the main performers and enticed audiences to attend the performances.
Is U2360 Tour’s Reign at Risk?
For the past 3 years since U2 finished their U2360 tour in 2011, no other artist has embarked on a tour that has the potential to generate such mind-boggling revenue, or at least that was until now. Several analysts opined that Beyonce’s Formation World Tour, which is expected to start in April 2016, can even threaten the U2360 Tour’s position.
The last solo tour from Beyonce was I Am… The tour in 2009-2010, was very successful but not so much that it became a record-breaking tour in terms of sales. Since then she has steadily risen to even greater heights in her popularity. Her followers fondly known as the ‘BeyHive’ have grown tremendously in all corners of the world. This indeed makes her 2016 World Tour have a much higher gross revenue capability.
Initial expectations suggest that if Beyonce were to perform 50 Formation Tour concerts in stadiums, she would sell over 2. 2 million tickets. That averages 44000 fans per show, which puts her beyond the per-show average of U2360 with 66000 fans. Of course, these numbers are based on assumption and the real revenue outcomes are yet to be witnessed. However, everything points to Beyonce’s upcoming tour has the potential to be the biggest threat to U2’s current record.
Conclusion
Identifying the most successful concert tour means comparing the numbers for gross revenue worldwide and adjusting them for the level of inflation. It also varies with the duration of a tour, total attendance, and average audience per performance. Using these key evaluative criteria, U2’s U2360 Tour has set the current benchmark of $736,000,000 in gross revenues for the years 2009-2011. In the future, anticipated music industry revenue projections will likely see Beyonce’s Formation World Tour as having the best shot at surpassing U2360 Tour’s gross revenues and thus, taking the new record. Only time will tell whether Queen Bey can make such a lofty financial history.
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