In a world of 30-second digital video clips and anytime, anywhere media streaming, it is encouraging that live events are also flourishing. In 2023, ticket proceeds from the top 100 music tours rose 46% year on year to USD 9.2 billion, according Pollstar Media. Even outside of Taylor Swift’s Eras tour, which grossed more than USD 1 billion, concert ticket sales were still up an impressive 29% year on year aided by Beyoncé. While inflation was a driver, with average ticket prices up 23% year on year to USD 130.81, attendance also rose, with individual ticket sales up 18.4% to 70 million in 2023. Further, it is not just the new kids on the block driving people back to concert venues. The number 3 ranked tour by earnings in 2023 was Bruce Springsteen’s, who at 74 is 40 years older than the GDP-moving pop star.
Source: Pollstar Media, April 2024.