Are Bigger Musical Artists Ruining The Industry?
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- Опубликовано: 28 май 2024
- Let's discuss how artists like Taylor Swift, Beyoncé, Bruce Springsteen, and Ed Sheeran could be contributing the the world's inflation problem... And also how I apparently can't pronounce "economist" correctly.
00:00 Intro / Background Story
00:54 Concerts Contributing To Inflation
03:24 Prices Are Insane
04:40 Beyoncé and Swedish Hotels
06:57 The Pandemic Effect
08:37 Go Big Or Go Home
11:25 The Snowball Effect
13:25 Record Sales Don't Bring In Money
15:51 Final Thoughts / Outro
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#taylorswift #beyonce #roadiereactions #tankthetech
Top tip for beating inflation: have no friends, don't go outside. Follow for more economic advice.
Why have a life if you have minecraft
top tip on beating inflation... Own a central bank, haha.
I've done that and I'm still poor.
nah, the top tip for beating inflations is, be born wealthy. having no friends doesn't do a thing about the prices for the things you need to live.
Heya Tank, have yet to listen to your commentary here as I am at office, but will tonight for sure. I read recently in Wall Street Journal that her tour, since creating a ton of business in all the ancillary aspects (restaurants, fuel for traveling cars, airline tickets, hotels/motels, and her MASSIVE merch sales), that Taylor's tour will create about a one half of one percent gain to America's 2023 GDP. Considering the massive scale of all of USA's economy, that is mind boggling and never done before by a musician in American history to nearly that scale
According to the Swedish statistical office, there were 79,408 available beds in all kind of accommodation establishments (hotels, hostels, etc.) in Greater Stockholm in December 2021. Thus, if there are indeed 60,000 people coming for the Beyonce or Taylor Swift show, then it will certainly have an impact on hotel prices - that's three quarters of available capacity taken in a short period of time. Besides, I don't believe the article claimed that hotel prices went up everywhere in Sweden, only in Stockholm. There are a total of 302,701 available beds in all of Sweden, so Greater Stockholm accounts for about a quarter of available beds nationwide (26%, to be precise).
So let's assume that hotel prices doubled for that show, and there were 60,000 people visiting above normal levels. It would lead to an average increase of hotel prices of about 20%. Accommodation services have a weight of 9.28% in the Swedish CPI, which would mean that inflation would be higher by 1.86 percentage points. However, as it was mentioned in the article, it is only a temporary thing, as hotels would likely get far fewer visitors if they keep prices at such a high level. Also, the odds are these prices were not applied during the entire month, but only for a week or so, thus reducing the impact on inflation to about 0.4-0.5pps. This is still a lot for a single event, but is plausible.
I believe the issue here is that Sweden and Stockholm in particular are not that large in tourism like other cities in Europe, say London, Rome or Paris. It is why you don't see such an impact from large shows in such places, as they can accommodate a large inflow of people - unlike Stockholm, which gets a fair share of tourism, but not in that quantity.
100%, I wanted to say the same. Noting that inflation was up is based on the math of measuring inflation (if you have 2 rooms, and 1 of them doubled in price, the average went up - but only 1 room changed its price). And the people of Stockholm or visiting who wanted a hotel room or to eat out etc. would feel the pain of it, but the people in other areas would not.
Not all of those 60k people need to stay at hotel.
Ok. Stockholm isn't really a travel destination in May. So the comment was basically complaining that a big even raised hotel prices for a short time during a typical cheap season. That has nothing to do with inflation. That is just how pricing works. There is a spike in demand (predictable one at that) and price increases for that time. And concert times are actually planned around available accommodation. If there are other big events (like sports, big conferences etc) you don't have book anything on top of it.
Thanks for the research paper in comment section
Tank, I love you brotha, but you are absolutely killin me the way you keep saying economist.😂 its eee-con-o-mist. 🤘🤘
Tank's no pronounicationist, y'know? ;)
Prices between different venues are also insane. When I went to Attack Attack at the Agora it was $18 for a tall boy White Claw or plastic cup of beer. At the Beachland Ballroom, the same size plastic cup was $7 if I remember correctly. I remember it wasn't even that close to $10 before tips. My mind was blown. Difference per city wasn't even that much. I think I had 2 beers in Columbus at Ace of Cups any they were $8 each. Obviously not as many people are traveling crazy distances for bands playing at smaller venues, so maybe it doesn't affect hotels as much; I was lucky to not need to worry about a hotel when I went to Columbus. Then on the opposite side of things, I spent $366 for one night in NYC for Electric Callboy, but it's my first time in NYC so I did opt for a Times Square Hotel. My hotel in Pittsburgh was around $130 for the night. I can't imagine trying to go see some huge artist like Taylor Swift. At least tickets for the bands I like are usually $50 or less.
That happens everywhere. I live in The UK and the ticket prices are higher. Also the local hotel prices always go up when there is a major event.
(Not saying I'm never paying a lot to see a certain artist) But going to smaller artists in a bar is sometimes way more fun and ofcourse cheap. Buy some vinyl or a tshirt and support the smaller bands 🤟
Disclaimer: I live in Bulgaria and although I've attended plenty of rock/metal shows here, ranging from small club concerts to massive festivals headlined by bands like Iron Maiden, I've never traveled abroad for a concert, and although I plan on going to Wacken or a similar international festival at some point in the future, I don't think I ever will travel abroad to see a single band.
With all this in mind - at least here, in Bulgaria, ticket prices started becoming insanely high before the pandemic. I'll just say it like this. In 2006 I saw Helloween in Sofia. The show was recorded for a DVD. It was a great production and Helloween is one of the most famous heavy/power metal bands in the world. I paid 8 euros for my ticket. In 2008 I attended a local metal festival headlined by Manowar, Slayer and Alice Cooper. I only paid for two of the three days, because I wasn't interested in Slayer (no offence to their fans, obviously). I paid 35 euros to see Manowar and Alice Cooper on two consecutive days. In 2017 I paid 35 euros just to see Helloween - and yes, it was a massive show and I don't regret it, but was it four times as good as the show I attended 11 years earlier? I'm not sure, and during these 11 years concert tickets were the only products that got such a massive price increase. In 2019 I paid 35 euros just to see Manowar, and those were the cheapest tickets. Again, it was a massive show and I don't regret it, but 11 years earlier I could pay half as much and, if I'd went to stadium early enough, I'd be able to see the band from the front row.
Compared to the hundreds or even thousands of dollars people pay to see artists like Taylor Swift, the numbers I've listed probably seem laughably low. However the numbers themselves don't matter - what matters is how they've increased throughout the years. And this was all before the pandemic.
When Metallica came to my city in 2008, I didn't go, because I thought the tickets were too expensive - 40 euros. In 2015 that would seem normal or even cheap for a band of this caliber. And last month I paid 55 euros to see Amon Amarth. Go figure. I don't think the pandemic is enough to explain this increase.
Quick sidenote:
If you want to visit a metal festival, take a look at Hellfest (france) or Summer Breeze (also germany). Summer Breeze at 222 (early tickets sold for
the best bit of this clip is Tank pronouncing “economist”
I have been subscribed to your chanel for a couple month. Couldn't be happier. Your content is pure gold.
I appreciate it.
Sending kind thoughts to you and your family the very best.
It probably helps that Taylor Swift will have an established band- Paramore- open in Europe (they recently toured there I think). They are known & their cost for touring expenses will be lower- mutually beneficial. She didn't have the history of doing as well overseas chart or concert wise (maybe due to her genre, smaller labor or negative press in the past). It's her 1st tour on her new label- and she may have negotiated lesser percentage of tour & merch in exchange for her masters & Spotify money to label mates if label sell the shares in Spotify of label. Also I hear she pays her openers well. It doesn't hurt that she's friends with them & collaborated with the lead singer.
People saving money during the early stages of the pandemic was definitely a real thing (at least for those of us that weren't laid off). People couldn't spend money on traveling, going to events, social things, etc. People either saved their money or spent it on physical items. Luxury and collector items starting jumping in price due to demand even before inflation went crazy. As a car and watch guy I saw the prices on rare and desirable models go insane, most notably the Rolex market bubble and 80s and 90s sports cars for example. As a bit of an audio enthusiast I also saw flagship models from high end companies increase in price significantly since people stuck at home with unspent money had something new to burn it on.
Unless you lost your job.
@@mikepalmer2219 Hence the part in the first sentence where I specify people that weren't laid off.
Absolutely, that was us (well not the luxury goods). We kept our jobs and salaries, our expenses went way down because we couldn't go do anything (I bought more digital music and ice cream and that was about it), AND we got some from the various pandemic relief checks that went out. Some people even saved the cost of day care, which is $$$$$$$$. Of course, few of those parents were HAPPY with the situation, but it does mean more cash in your bank account. I personally am going to many more concerts now than ever before, because I realized how much I love it and missed it, and I'm prioritizing it higher even though it's more expensive...
@@Cereal421 got ya
I don't think that hotel prices around Stockholm going up and influencing the inflation rate meant that all hotels were raising their prices.
An inflation rate is kind of a mathematical average, and if one third of the market suddenly raises prices significantly of course it will affect the national average, even if the rest kept their prices where they were.
This is why a Taylor Swift concert in New York won't have an effect in California. But it would be interesting to see if one could detect an effect in the state of New York.
Most of the hotel rooms in Sweden are IN Stockholm. If Stockholm hotel prices go up, it pulls the average price up, whatever the rest of the country does.
We are in an demand economy - which I think is bad. Basically the price is determined by demand. Flights / hotels / car rentals have gone this route…. Concert tickets also…. So… when a big show comes in hotels get booked - but think there might also be a non music convention also is in town - so there are not hotels left and prices go up. In Toronto Ive seen hotel rates go up to $800 a night for the MOST BASIC hotel. The bigger issue is that if everything goes the route of prices on demand vs fixed prices - only the upper class can afford what was meant for everyone. Wages are fixed in most cases if someone is in a job. If Self-Employed or freelancer they can have their quotes/rates change based on demand so being self employed has the advantage of being able to adjust your rates on a per job basis. There is a bit of a middle ground - the rates on demand change based on availability and dates - example: if a concert is tomorrow and tickets are available there should be lower prices to sell off what’s left…. It would be nice if hotels/flights/car rentals do this. Sometimes they do sometimes they dont. But lower prices can be found sometimes last minute. Now getting back to concerts that have an impact - there is other money to be made in terms of sponsorships and local activations that could also include the government and tourism. We have seen after parties before - Tommy Lee DJing at a club and getting paid $$$$$$$ to make an appearance - One time there was a promotion for him DJing at a club in Toronto after the concert - he literally showed up took a couple of photos and left. Made at least $10,000 - The government … cities tourism offices can make sure other events are happening the same dates around other big events knowing people will be in town and thrower jobs are to keep them in town. Say a U2 concert is happening on a Saturday - Tourism can make sure something is going on that weekend and people will come in not just for Saturday but for the weekend. There’s a lot more at work and it is all about making money.
When here in the neighborhood was held a concert and a week later a festival, the prices went up for 70%, even the supermarkets did the food up in prices, local people must drive 30 km to go shopping for [normal] prices, lots of people couldn’t pay that [even local gas stations drive up the prices].
Honestly, we did save money in the first few months of the pandemic, when my hubby was staying home and taking care of the kids while I was working, from home too. Even if he didn't have his full pay, we were saving on daycare, gaz and activities, so we were able to repay some of our debts (also, our interest rate on the home was super low, we have a dynamic interest rate, and it was very good back then). BUT. It lasted like 3 months max. Now with our interest going up and up, and the animation industry really not doing well with the strikes (so I'll probably be out of job at the end of the summer for who knows how long), I don't see us saving anything for a while, and especially not spending 300+$ on a concert ticket x) I am very selective this year about who I'm going to see, vs last year I was buying all the tickets I could because I craved going back to concerts ;^^
Statistically speaking, there was a tremendous amount of savings for white-collar workers during the pandemic. (ie. people who could work from home but suddenly had fewer work-related expenses.) There have actually been formal analyses' done on it.
The thing that bothers me the most about those price increases: it mostly is down to absolute greed on the side of venues and companies like LiveNation. Tickets don't NEED to be that high (not because of inflation nor anything else). Higher than before? Sure. But not that high.
And they will argue with supply and demand. Obviously a Taylor Swift concert WILL be sold out, even at these prices. Otherwise the whole scalper resale issue wouldn't be a thing. But they're basically gatekeeping now. Wanna see your favorite artist and bring your kids but don't have 1500$ on the side? Well, poor you. And that's a damn shame, because music is culture, and culture should be accessible to everyone.
Sure, but that's true for many (if not most) goods and services and frankly concert tickets are undeniably far more of a non-essential luxury good than many of those other things.
It's odd to me that live music is a particular industry where a lot of people feel prices should be capped at some arbitrary amount set well below the actual price of demand even if that means artists leaving tremendous money on the table. Sure, that may price a lot of people out (including myself) but it is what it is, and I'm skeptical most of the people complaining wouldn't be doing exactly the same if they were in the position of these artists.
Personally, I'll reserve my outrage for goods and services people actually need to live but are also being priced out of.
A couple of our venues got bought by Live Nation during the lockdowns. Ticketing changed to Ticketbastard and fees went from 20% to 40% of face value. Prices for concessions more than doubled. So, "yeah".
I will say as a musician/music fan (gone to 40+ shows this year) I have absolutely 0 motivation to go to larger concerts and deal with all the bs. Haven’t had to pay more than $10 for a ticket and haven’t paid more than $5-6 for a beer
I can confirm this. We got tickets to see Pink next week in Vancouver B.C. I bought those tickets in March and within a week all the hotels more than doubled their prices for that weekend.
I rented a room at the Meriton on Herschel Street in Brisbane in May of 2019; I was just going to visit some friends and hang out for a few days. I think it was $150 a night for 3 nights (and having stayed there a few times before, they upgraded me from a room on the 20th floor to one on the 68th floor). Between booking my room and arriving, U2 announced a date in Brisbane and so the cost of rooms was far more than I had paid.
The reason businesses charge more during events of high demand -- whether it be a concert, a blizzard, a downpour, etc -- is less to gouge consumers than to service more consumers.
If the hotel kept its normal price, fewer Pink fans would be able to get rooms, which might not matter to you because you already had a room, but put yourself in the shoes of someone who wanted to go but couldn't find a room because you and 2 friend had 3 rooms..... (or snow shovels or umbrellas....)
We saved some during the pandemic because my wife's job kept going (she's a midwife) and we didn't go away anywhere. We lost my income but that was much smaller because due to health I only worked very part time anyway. More importantly, I had time to rethink so I retrained during the pandemic and my health improved; afterwards I got paid a 3-day teacher's salary rather than an occasional teaching assistant's, plus our children went to university so for over half the year we are only having to feed two of us instead of four. That has made a huge difference. Also, we decided we should go to more concerts (and other events) while we can - we've been ticking off "bucket list" items rapidly (Nightwish, Sabaton, Babymetal, NanowaR of Steel, Peter Gabriel, soon Home Free). Even so, I decided not to see The Who for financial reasons. I'm also trying to figure out if there's any way I can go see Judas Priest next March when it's in a different city and I'm working the following morning...
That statement on having lots of money due to the pandemic is stupid alot of people wouldn't have been saving lots of money because of it. Plus hotels are always going to up prices when gigs etc are on
Yes but the Pandemic did happen and alot of people did save and did have extra disposable income. There is empirical evidence that this Happened. Here is the source www.federalreserve.gov/econres/notes/feds-notes/excess-savings-during-the-covid-19-pandemic-20221021.html#:~:text=This%20led%20the%20personal%20saving,recent%2C%20pre%2Dpandemic%20trends.
Right? Events always raise hotels prices. Not just concerts, but festivals and state visits, biennials, conferences. If there's a sudden influx of visitors that can be anticipated, hotel prices are going to go up. This happens all the time, everywhere.
As much as I'm not a fan of T Swift, I don't think we can lay any of this on her doorstep.
But I feel like the article was part of a content mill effort to both get clicks and divert attention from corporations inflating prices beyond reason to try to catch up on their promised quarterly growth.
@@mundanepants that is why I said etc
I 100% agree with you!! I’ve heard people say savings went up and wealth but I haven’t seen it! Everyone I know was forced to get credit cards to pay their bills and everyone’s cutting back. Who are these people with savings? I feel like it has to be people with high incomes
Also, in Sweden, we are suffering due to the Swedish krona dropping like a stone compared to the dollar. (and guess which currency us. Bands is being payed in...)
Holy crap if a beer was that much I just wouldn't have one...
So sad blue ridge was such a complete and total disgraceful disaster. You literally did more for Electric Callboy than most people would have, or could have.
Increased savings during the pandemic... Yeah fucking right.
Great video Tank!
Ive been going to shows for a _long_ time. What I've most noticed increases in are ticket prices for festivals spiraling, along with concessions. Ticket prices for a single night out type events have become much more tied to the notoriety of the act playing: bigger the name, bigger the price difference since the years prior the lockdowns. For small acts (that play at 300-1500 person venues), there's basically no increase but for acts that can sell out a 3000 person venue in a few minutes or fill a basketball arena, prices have at least doubled.
With respect to concessions: I'm back to having to pregame before shows and wishing my job wasn't incompatible with drug use (because, at this point, the drugs vs alcohol bang for the buck heavily favors drugs). Prior the lockdowns, I could buy my wife and me each a double call cocktail for about $18 plus tip (combined). Through most of 2021/2022 that became $33. In 2023, a pair of singles now tops $40.
I feel bad for our bartenders because it's not just my wife and I that are noping out on buying more than a single round at venue's bars. I've also noticed that bars' staff turnover rates are significantly higher, probably because their tips are in the gutter.
As to the "saved up money during the lockdowns" thing: we weren't going to multiple shows per month (and therefore not incurring parking or rideshare costs or bar tabs) or festivals (and incurring hotel, airfare and car rental/rideshare costs or concessions fees) per year, a movie or two a month or eating out (weren't really even doing DoorDash). My job was already remote before the lockdowns, so I continued to work and earn during the lockdowns as I had before the lockdowns started. So, yeah, we ended up saving up money because our entertainment outlays had gone from $toopid to zero for 18+ months. That said, we didn't take a "we've got savings, let's splurge" attitude after the lockdowns ended. The price shock of everything, however, did cause us to cut back on the increased prices of bar tabs and rideshares and to be more selective about "am I willing to spend to see this headliner that costs double in 2023 what he cost in 2019 and who's show is going to be oversold to point where we can't even move". While we still go out quite frequently, most of that is for smaller acts (and when they graduate to larger venues, take a "congratulations on your success, but we can't afford catch you this next time around" outlook).
And I'm sitting he and bought concert tickets for Feuerschwanz (Support: Angus McSix and Orden Ogan) next year for around 55€. Still not sure about 60€ for Saltatio Mortis with Alestorm as support.
Coincidentally I've read that some MEPs of the European Commission for Consumer Policy made a draft to try to prevent and/or look into the legality in Europe for those dynamic pricing stuff for Tickets.
It's contrary to common sense but the economic research is pretty firm that savings actually increased during the pandemic. The vast majority of people, but especially white collar workers, didn't lose their jobs during the pandemic. However, during the pandemic, people spent significantly less on restaurants, concert tickets, vacations and other leisure activities. So that money was saved during the pandemic and so those people now all want to spend that deferred spending at once. (Again mostly white collar workers)
About the savings thing, it's that k-shaped tecovery that people were talking about a while ago. The well-off white collar workers who could work remotely made out like bandits between spending less on travel, commuting, and eating out while alos getting new jobs and/or raises, while the people at the bottom bore the brunt of the economic unheaval from the pandemic and still haven't recovered.
There's an interesting thing that happens in forests. If you cut down the largest handful of trees, the forest around them flourishes. All the sunlight and resources those trees were absorbing were freed up so that other struggling plants suddenly do much better. Any system with limited resourses will behave similarly. Large corporations vs small companies. Landlords buying up houses vs people looking for housing to live in. And large musical acts vs local musicians.
Geeze, mention like, every central team other than the Wild, I see how it is ;)
Side note: Going to Electric Callboy in September and want merch. Is it better for the Band for me to get merch at the show, on their website, or is the difference minimal?
Thanks Tank, keep it up!
What the actual f, the savings comment made my jaw drop. Everyone I know made less to no money over the pandemic... detached from reality
If people are willing to pay an insane amount to see Taylor Swift why would they lower the price knowing people will pay no matter what?
This happens for any event. Eugene, OR had their international track event last year and placed that rented for $100 were going for $1k within a couple hours of the city. That's running, not even an entertainment event like a concert.
I saw Bruce Springsteen at a festival site. He was there the week before a big pop festival, so the stage was not built especially for his gig. The ticket price was already 100 euro, but the price of food and drinks was much higher than a week later at the festival....why?
I survived the Great War and got my Taylor Swift Eras Tour tickets for Edinburgh. Will I be traveling, yes, I’ll probably go through some fuel as I’m driving from Glasgow. Fact, Edinburgh is almost sold out for that weekend, £600 a night right now is average there. Now it’s affected Dundee, Dunfermline, Stirling and even Glasgow. Glasgow 10 days ago was under £100 a day, now it’s in the £120-150 a night.
Folk are travelling from London as it’s been easier to get to the Edinburgh show than get to Wembley. Cardiff is only getting one show, a venue I’d suggest would have got 3 for availability in the UK economy.
Taylor is bringing 3 shows to Edinburgh, rash with around 65,000. I’m now prepared to spend £100 a ticket for a arena and stadium show. And £50-70 for a mid sized club/theatre show.
As I can travel by car and tram, I’m fine. However us Swifties on the Discord server are now looking out for one another. Now we have the tickets, we will now look out for each other for accommodation. I did save a little over the pandemic, mostly to get back to shows.
If this report is accurate, I’m also helping with a Foo Fighters show 9 days after Taylor.
To be honnest, kpop concerts and tours are also very pricey since a while, so I wonder if that also set a precedent for ticket prices.
Recently saw Bruce Springsteen
ticket cost £150 ($194)
Was right at the front, well worth the money, he was brilliant as always 😎
Couldn’t afford a hotel so had stay out at night and get bus home in the early hours
You do what you can to see one of your favourite artists
Lucky. In the US, Springsteen tickets in the front section are at least $2k. Sometimes much more.
FWIW it actually is true that statistically speaking, there was a tremendous growth in savings specifically among white-collar workers during the pandemic (ie. people who could work remotely so had little to no reduction in income but suddenly had lower work-related expenses.) There have been actual analyses' done on it and a lot written about it. It's been a big topic in economics the last year or so, it just is something that's mainly true for a specific type of individual (who frankly also probably tend to be the same group that can drop several hundred dollars on a big arena show.)
-Yellar’s comment about a $7 coke was my first comment when I hear you talk about it.
-For evidence against the idea that inflation is why hotel prices go up, I gotta go back to Pro Wrestling and mention Wrestlemania. The amount of fans coming from not only another state but from other countries has grown which has meant a demand for hotel rooms. To go along with that, 2006 saw ROH run a pair of shows that weekend and the years after saw other groups also running shows, which meant even more demand for rooms for the talent. That’s in no way inflation. That’s hotel companies taking advantage of the situation.
-As for concerts, don’t most of the bigger artists want to top their last tour in terms of presentation? Bigger guest appearances. Bigger stage show. Add in the artist’s success, you’re looking at the possibility of higher ticket prices. That’s before the expenses you mentioned, which could be affected by inflation. Plus, the fans who are the most die hard are usually willing to pay the price.
Ive been saying all along that the high show prices are due to everyone having to make up for a entire 2 year's worth of lost income, and that's a lot. Its not like bands and crew could work from home. Or slap a mask on, and make sure clubs are under sold by half capacity and make everyone stand 6 feet apart. Add that and the fact that Ticket Master would steal your childs tooth fairy money out from under their pillow if possible.
When I saw machine head in 2018 during the catharsis tour. 3 tickets cost £245 at the o2 academy in Birmingham UK. September of last year, tickets to see the same band, 3 tickets cost £300. I admit not a huge difference and the recent 1 was their co headliner with amon amarth and it was an arena tour. But prices still shocked me when I found out how much they were.
Software programming conferences push up prices for hotels within cities in the US when they happen, I'm sure medium and larger concerts do to. We're talking things with high 100s to low 1000s of attendees.
When you mentioned beer prices I'm glad I live in the UK 😂 £5/6 a pint doesn't seem so bad now
Bought a ticket $70 for a concert in Oct, hotels are more than twice the cost that week, its back to regular price the following week.
I bet it will take a few more years , but I could see how some bands won’t even bother touring and will just stream concerts in different time zones. Like code orange at the start of the pandemic had like 20k people online watching ? I know I am over simplifying it but that might be where this goes, with prices not coming down. They will not come to us we go to them online and just mosh in a home office or somthing idk😂
They are helping the economy, every place Taylor has been said it helped their economy, plus Taylor donates to the local food banks in every city she tours. The food bank in Florida reported to the news that she donated enough to feed 125,000 people.
I remember paying $10 max to see 5-6 bands live. Local shows were $5-$6. Then it started going up, long before the pandemic.
I haven't gone to a lot of concerts, I think the most I paid was to see Rush in Sunrise in 2012 (I think...); I bought the ticket off stubhub for $165 because I went to Florida to see the shuttle take off (postponed.....) and Rush happened to be there a day or two around the launch date.
I also saw Rihanna in Tampa in July of 2011 (again around a shuttle launch that was postponed....lol). $60 for seats in the middle, the row ahead and forward were $90. It was at the Ford Amphitheather and what I thought was neat was that the grassy area at the back (with video screens everywhere) was $20 so even if you weren't a huge fan of whatever band, you could go see a concert and have a night out for $20.
I was too young to enjoy the days of $5 concerts featuring Kiss and Rush... The business model was different then, I guess..... the money was made off album sales and tours were promotional endeavors.
Rush must have had some tremendous pull with promoters and agents; when they toured Europe or South America, they (as I read it) took their own production....lights, sound, stage gear...not trusting that when they showed up if they left it to someone else the gear would work or be able to provide the show they wanted.
I work in the hotel industry and the hotel industry jacked up all prices when Taylor Swift came here (Nashville) last year. They were all calling it the Taylor Swift effect... A slow month for the industry got a lot only for her passing by.
To add to production costs, we’re still facing the ramifications of COVID from manufacturing and shipping production equipment. Manufacturing has slowed down incredibly. Allen & Heath for example, I’ve seen people have had to wait 6, 12 or up to 18 months to receive their consoles or external cards like Dante and waves. So many people are moving to A&H but the demand is currently still higher than the supply. It’s insane
I am afraid for when this pricing trickless down to the bands i like, just paid $70 for a box seat for Jinjer, and $36 for Unleash the Archers general admission.
It's a CNBC economics article, best used as toilet paper. Ask yourself 2 questions: what percentage does the touring industry have of the total economy and what is percentage of concert expenses (out of total expenses) of the average (!) consumer? I would be surprised if either of those 2 values is above 1%. If it's below 1%, then the influence on inflation is near zero. All the other things like hotel costs, rents, etc, are temporal effects (ie. not different from say the price increases during labor day weekend), and those have barely an affect on inflation, and labor day is US wide.
In Europe there has been special helps during the pandémic. So not so many ppl lost all income.( kind of a wages insurance). The income were lower but the spendings even lower, so actually ppl saved money.
Guys, please, im asking for help. Can somebody tell the name of the album hanging behind Tank's back, the second row from the top, the second cover from the right - a white figure on a black background and a white inscription at the top. Something very familiar, but I can't figure out what exactly
when I went to tuska open air between 2003 and 2007(when I still lived in helsinki) prices for a 3 day ticket were around 70 euro's, I checked, this year's 3-day ticket is 210.....that's triple the money and wages sure as hell haven't increased that much...
Short answer going off the title alone before I start the video, yes. Yes they are. They set an unrealistic touring standard now but are the few that can actually afford it.
I didn't bank money and it seems like the days when I go watch shows it's over. The last show I saw was Streetlight Manifesto for around 50$, and that's the max I would ever paid to see a show. Cause of all the price going up for food, housing, etc. didn't have hundred of dollars to go see a show. :(
To be honest, i go to a lot of smaller venue shows, and although prices in general have trended upwards a bit since i started going to shows when i was a teenager (example: Bad Religion and the Briggs from 07ish i paid 27 bucks, same show now at same venue maybe 40ish bucks.) Most ive ever spent on a show for tickets had to definitely be Iron Maiden at Prudential Center with Lita ford i belive and Alice Cooper i paid 100$ for higherish up seats dead center stage
Absolutely Correct but I never go to these Concerts
I can't afford to go to a concerts because of groceries is more and gas prices are more and my rent is more . I haven't went to a concert since 2019 and I don't see me going any time soon.
Utility costs, cost of food, cable etc. is probably factored in as well as supply vs demand. They have to at least be able to pay to keep the lights on for you.
anything instead of criticizing capitalism itself
Not possible. Beyonce, who just bought the most expensive home ever sold in California, stated on her last single that the problem is with America.
You have great knowledge of the monopoly that is Live Nation here in the US. What is your knowledge of the European situation? Do they have a big stake over there? Is it much more diversified over there so as to not have a monopolistic situation to where 1 company can have control over how bad the public gets screwed over in the name of corporate profit? I ask because I saw an article where a woman wants to take her daughter to see Taylor Swift. Nose bleed seats for the 2 of them would have run almost $5000. Instead she's taking her daughter to Poland to see the same show over there. Airfare, hotel and floor tickets for both is costing approximately the same money. That's absolutely insane that American audiences are being gouged that bad. I get the whole supply and demand economic system we have but this country is ridiculous.
If more bands start switching to using Kempers, QuadCortexes, or similar modelers and can cut down on the amount of gear they're lugging around, do you think that would help lower costs for them over the long term?
A huge amount already have been and it hasnt changed anything
"Non-freedom units". Love it.
There's some good things happening after the pandemic, if you're inventive. I work with a collective of experienced drivers and bands who own their own bus. Drivers are as fed up with the leasing companies as artists are. Some bands are finding it's easier to buy their own bus now. The driver collective I'm in helps that to happen, the artist saves money, and it's a better job for the driver.
Coach leasing prices won't go down, but paying them doesn't have to be the new normal. There's options.
There should be talk about the void that is left when a large event leaves the area. There is a ton of money spent on upkeep, marketing, and just general man-hours to prep an area to support a big event. Because so many companies are vying for the same people, they put effort into the "potential" customer, rather than the actual customer. Then the question becomes did all of that initial effort net enough return on investment that you profit, or at a minimum break-even. The Olympics are a mega version of this issue. Businesses are forced to compete, but when the people are gone, your cost become higher without the number of people to support it. So then businesses are also forced to make decisions about lay people off, or adjusting prices to compete for the pre-event market. The craziest thing about this is it is happening at the micro-level, versus the Olympics which is a macro event. Large, and long term events makes sense, but these one day events shouldn't have such a lasting impact so quickly. It isn't like artists didn't use to have huge concerts. I would love to know why music concerts are causing the issue, while non-national/non-international sporting events rarely cause this issue with their ability to bring tens of thousands of people more often.
So funny to hear you talk about the Blue Ridge Rock fest before the fact. If only you knew what lay ahead.
4:22 *takes a sip from 355 ml can of Coke*
LOL
in the last couple years ive gone to soooooo many shows, Mostly cause im irresponsible and love live music. Pricing for different places is also messed up Tickets for Meshuggah were $70ea for me where as someone a province over posted $150 cause the venue was bigger. The closest city for me being Edmonton has it ups and downs, example big stadium tours like swift don't often come this way.
I guess I was doing the pandemic wrong, I worked the whole way through the pandemic, and my costs really didn’t change, maybe a little less in gas, but that was probably balanced out by electricity costs as I was home more. And, of course, prices never go down, in the industry I work in now, real estate rentals, rents went nuts during the pandemic and those prices are here to stay, the same as grocery costs. I’m skipping gigs I’d love to attend as I just don’t have the disposable cash, with the recent cost of living increases.
Actually the economist's comment about saved up income is true at least in Germany:
During the Covid pamdemic private savings went to a record high in Germany. Goverment aids minimized the amount of people who were laid off, but at the same time people couldn't spend money on travelling, dining out, joining events, etc.
17 dollars for a small beer WTAF i was upset paying £5.50 for a pint at the weekend, thats 20 fl oz
I mean when you were sitting at home and not spending money on eBay thanyou could save some, but now with the inflation I think it's getting hard to save cash
Yeah I managed to repay some debts in the very first months because there was nothing to do outside, but it didn't last very long and now everything is so much pricier, if anyone saved anything it's probably long gone now 🥲
Hotel-prices in california doesn't get impacted by a show, because they can't be raised much more. They're already bizzarely expensive! lol
weird. helloween in june as 70 bux. my maiden tix were 100 bux a pop (all in, that includes all fees), lyle lovette tomorrow is 65 bux. depeche mode in november is also 65 bux. steve vai next month is like 40 bucks. roger waters tix last fall were 20 bux at the door. that's a pretty wide variety of genres, all under 100 bucks. if you're paying thousands to see swift or bay-once, that's on you
The music industry is nothing but a microcosm. It plays it's role but our issues run so wide and so deep we're past the need to point blame. Now we just need to find some solutions pretty quickly or we're all fucked.
Non freedom units?? That's stupid but made me laugh 😂
I recently paid $17 for a haircut and there wasn't even a concert involved.
the highest ticket I ever bought was an 80$ ticket for slipknot and fees so it came to 100$. the cheapest ticket I ever bought was 19.99$, most tickets cost between 25.50 or 29.50 or even 20.00$. I also buy from the venues website not ticketmaster, except for slipknot.
I’d pay 80-100$ for a slipknot show. In a heartbeat.
I just saw Falling In Reverse in my city on tour with Slaughter To Prevail and Ice Nine Kills on the 18th, the tickets were $56.
In Mexico prices for smaller shows have been stable for the most part beween 25-40 USD, but the prices fo the big artist have become really expensive, the cheapest Metallica ticket is 50 USD which it doesn't seem as much but is actually around half a week of pay here, also in the past the cheapest tickets for Metallica were around 15 USD, whihc is just a big jump in price, also the bigget artist pretty much only play in Mexico City which means that on top of a ticket a lot of people will need to pay for a hotel and a trip to the capital, which ads aroudn a 100 USD at the cheapest withou including another expenses like food, and transport when you are already in the city, the reason for that is because those artist are only hired by Ocesa which is a really big promoter and they pretty much work exclusively in Mexico City and even if another promotes want and have enough resources to bring those big artist the grip that Ocesa has with them is so strongh that they just don't let any other apromote to hire Metallica, or Taylor Swift, at least in Mexico we have 2 big ticket seller and is not only Ticketmaster.
10:12 those who were able to keep working normally (their regular pay check) could not spend money on live events like concerts and conferences, etc.
Here in Dublin Ireland Swift has three stadium dates next year. She initially had 2 but immediately added another due to demand. No one even knew the ticket price when the shows were announced and so far the pre registration is over booked by God knows how many tens of thousands of Swifties. She could probably do a fourth show if she had the dates free. Needless to say hotel and accommodation prices have gone through the roof.
People seem to have the money though. I just checked the figures and savings over the pandemic were 20% above 2019 figures at 18 billion euro extra. That's from a population of 4.5 million people.
More shows than ever were put on this year and still people have money to spend.
who knew that Ireland got rich all of a sudden? 😮
here in the armpit of America, that isn’t happening
but also Dublin is like your LA or NYC
meshuggah in Michigan 125$ each for upper mezzanine before fees..... and well michigan 15$ extra each for early entry because fuck standing in the cold... after fees 325$ for 2 tickets.
Don’t worry, we’ll take good care of Duchene 😉💫
I am one of the crazies that “saved” during the pandemic. Didnt go anywhere or do anything so over the 2-ish years i saved enough $ to pay off most of my college loans
it is kinda crazy that a lot of older artists were able to not only survive but live in luxury just from album sales alone. Two big factors in this no longer being the case was the leak of the mp3 and napster, both of those things helped facilitate piracy and resulted in much easier access to music and over time it's resulted in an expectation for music to be free. If all of a sudden they locked down spotify and other streaming services and shifted back to having to pay to listen model, with the only thing you get for free being some equivalent of radio, I don't think it would necessarily translate to sales. I think there's too much of an expectation that you can listen for free and people would sooner start pirating in greater numbers. It's a catch 22 though because while I think it'd be kinda nice if album sales were a lot higher and artists could be compensated through that more, having to pay for music again would DRASTICALLY reduce music discovery and diversity I think. I've listened to thousands of albums on spotify, if I had to pay for all of those for like 10 dollars a pop or so, that's 10s of 1000s of dollars I'd be spending to listen to these albums. People would probably start having MUCH fewer albums they listen to because it would just be too much of an investment and they'd need to be more particular about which albums to buy. Right now you can listen to every album that comes out in full if you want with the only investment really being your time, if you tried to do that in the days before piracy and streaming you'd be broke.
The blame lies mostly with the people who are willing to pay ridiculous prices on the secondry market.
For the folks that worked from home their income stayed the same and their commuting and other normal entertainment expenses went to zero. It wasn't a fair distribution. So folks who have money that would normally go to a concert now have more money and are starved for some group entertainment!
0,5 liter of been can cost up to 11,5 $ here in Denmark (at concerts etc) 🇩🇰🇩🇰😮
Personally, I did actually save money during the pandemic but that was because I didn't really go anywhere or do anything special for almost two years, and I have a job that was considered "essential" (pharma production) so I had a stable job throughout the whole thing. Also, I live in Finland, so I don't know how our prices (rent, food etc) pre- & post-pandemic compare to the US or other places around the world.
As for your question about saving money during the pandemic. That was the case for me I saved £7000 from May 2020 to May 2021. I would have been lucky to have saved even a quarter that in a normal year.
The reason you did not save much money is that you were reliant on band touring to earn money. The rest of us were not able to spend much money so the money piled up in our bank accounts.
i spent almost nothing during the pandemic that wasn't on essentials
Seventeen Dollars for any beer is ridiculous
Non freedom units had me dying haha
I just paid 90 euro for a ticket to go see Babymetal .. that's about 50% more of the most expensive ticket yet, which was the 60 euro for a DKM ticket.... it's getting a bit silly. Those are the gigs that used to cost 30 euros beforeCorona
11:40 that can also happen in the us, but not in the whole country big like in a big area it could happen the same way as in sweden.
I don’t think people have disposable income they’re just throwing at concerts. Based on what my friends do, people are just going into debt because they were forced to stay inside for so long. My husband and I have gone to a record amount of concerts within the last year, but we still try to get the best prices we can. If that means I have to brave city parking to buy tickets directly from the venue to save on fees, I do. We’d 100% be at Blue Ridge to see Electric Callboy too if we weren’t going to be at an Ice Nine Kills convention in MA that weekend.
Eee-caw-nuh-mist
👌
You'd hope high ticket prices for big acts would drive people to smaller acts in smaller, cheaper venues but sadly they're closing down at an alarming rate in the UK and upcoming artists are struggling to find places to play.
Sadly the kind of person that will pay £XXX to see Beyonce at the O2 Arena probably won't want to see an unknown rock band in the cellar or back room of a pub.