Ticket prices have reached greater heights than ever before, with a new poll finding that the average concert ticket price in 2024 reached over $120. While that price tag continues to rise, it poses the question: Are these prices really sustainable?
According to Pollstar, the average ticket price for the top 100 tours in the first quarter of 2024 was $123.25 — marking an all-time high record. Data from the publication found that the average ticket price for a Bad Bunny ticket is $290, followed by $216 for Justin Timberlake and $149 for Nicki Minaj.
While fans have been quick to scoop-up tickets for big-name acts like Taylor Swift and Beyonce, they’re seeing other smaller acts’ tickets priced just as high. A handful of artists went on their first large-scale headlining tour over the past year, including Olivia Rodrigo and Noah Kahan. While these acts are just emerging in the industry, their prices are mirroring legacy musicians — and fans are thinking twice.
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Just over the past month, two big-name artists have called-off their tours: The Black Keys‘ “International Players Tour” and Jennifer Lopez’s re-branded “This Is Me…Now: The Greatest Hits Tour.” Several festivals have also been cancelled this year, including Kickoff Jam, Lovers & Friends, Backwoods Festival, Made in America, and Firefly.
Slow ticketing may be to blame; in this system, prices are set at what the tour organizers (and its partners at companies like Ticketmaster) believe is the highest level that the artist’s fans might be willing to pay, for each level of seating (even down to individual rows, with premiums for things like aisle seats). Initially, tickets are priced high for the must-see superfans, and over time, the prices are expected to drop. Now, we’ve seen that the practice may have run its course, as fans seem tired of the exorbitant prices.
While concertgoers continue to lash out at every tour, artists appear to be willing to risk the fan blowback and either postpone their tour or cancel the shows entirely amid low sales.