Concerts create valuable experiences, showcasing musicians’ talent and prowess in their art. Unfortunately, due to the increasing value of concerts and the rise of inflation over the past few years, people wonder if attending a physical show is still worth it. During the pandemic, people had to watch concerts through screens. Additionally, music streaming services like Apple Music and Spotify became essential tools for artists to track how well their music performed with listeners.
Live concerts significantly benefit artists. In 2023, world-famous rapper Travis Scott’s North American Circus Maximus tour grossed $209.3 million across 76 dates and drew 1.7 million fans worldwide, making it the highest-grossing tour by a solo rapper. On online streaming services, Scott gained more streams for his music but earned less revenue. Based on revenue, live performances trump online streaming but have less viewership since concerts and tours only go on for a set amount of time, while online streaming can be listened to repeatedly.
The skyrocketing ticket prices in recent years have led many to rethink their spending on live events and question whether they are worth purchasing. Music teacher Timothy Waldvogel shared that the value of a ticket ultimately depends on who/what a person wants to see, how much it costs, and how much money he/she has. “Some concerts now cost hundreds, if not thousands, of dollars per ticket, pricing out many casual attendees. Prices have skyrocketed, which certainly makes some tickets not worth it, in my opinion. However, I’ve purchased some really high-priced tickets to see things that I’ve very much wanted to see—it’s all a matter of how important it is to you. I think gone are the days where you go see a live show just for something to do though.”
With the rise of digital streaming, artists have had to adjust their revenue sources to sustain their careers. Music teacher Zachary Rifkind explained how the pricing model for concerts has changed over time: “The price of tickets for concerts is out of control currently. The paradigm shift in the last decade has been that bands used to tour to promote albums, now they produce albums to promote tours. Many artists receive only fractions of a cent per stream on major platforms, making it nearly impossible to earn a living solely through streaming. Bands don’t make any money on streaming services such as Spotify or Apple Music (Spotify pays .003 cents per stream). The issue is that for bands to remain financially stable, they have to make all their money touring, which explains the high ticket prices.”
Rifkind continued, “I believe that ticket fees from vendors such as TicketMaster are egregious and should be eliminated. However, as for the extreme price of tickets at concerts, I don’t have a good solution. I understand that bands need money to keep being able to afford to make music and remain together, but they are making their shows unaffordable. I myself am looking at some concert tickets for this summer at Jones Beach, and the cheapest seats available way in the back are $70. It’s not going to be something I can afford to do regularly anymore.” Ultimately, Rifkind hopes streaming services will pay artists more, in hopes that will eventually drive down ticket prices.
Concert production involves not only the artist but also lighting technicians, sound engineers, stage designers, and countless other crew members who all rely on these events for their income. Music teacher Veronica Underhill believes that the costs behind live performances should be considered when discussing high ticket prices. She said, “People need to get paid for what they are doing behind the scenes, and if it requires the public to pay more so that they can improve the quality of their work, then it is absolutely worth it if you’re willing to go out of your way to watch a live performance.”
Concert ticket prices are a complex issue. Multiple factors must be taken into account: the financial stability of artists, the quality of live performances, and the affordability for fans. Whether attending a concert is worth the cost ultimately depends on individual priorities and financial considerations.
