How many expenditures consumers have made since COVID have become totally unrelated to the state of the economy and inflation? After being cooped for an extended period of time and feeling much angst, many of us feel like we deserve to enjoy ourselves.
Still, when it comes to spending on entertainment, it’s been a mixed bag.
Subscription video streaming platforms have experienced a slowdown. There are more of them competing for our dollars, of course, and their accumulated fees add up. Our most recent Techsurvey reveals nearly three in four respondents now pay for two or more premium channels. But it also shows that for many households, these fees are becoming onerous. In fact, one-third say they’ve cancelled at least one video streaming service in the past year.
At the halfway mark of the 2023 season, Major League Baseball is doing more than holding its own. Many insiders believe the rules changes – especially making for a faster game – have contributed to putting more fans in
stadiums. And just ahead of the All-Star Game break, there have been surges at the turnstiles of many MLB parks, according to Sportskeeda:
Attendance in July has been particularly good at most ballparks. For the first time since 2017, the last two weekends drew 1.5 million fans. Kudos to MLB – they’re pacing well going into the second half of this season
Movie theater attendance this year is in the midst of a comeback, too. And it will be interesting to see if “Barbie” and “Oppenheimer” will stimulate attendance spikes this summer. Obviously, the two films are targeting vastly different audiences.
A recent story in Variety indicates movie theaters and multiplexes are looking for a solid 2023 but still below pre-pandemic levels. Written off for dead during COVID, there is reason for optimism:
“…despite all of the obituaries, the movie theater industry is poised to recover. A new study even shows that revenues in 2023 will reach $32 billion, a 10% increase on earlier estimates of $29 billion.”
But then there’s the concert industry. Propelled by some of the biggest artists in music – among them, Taylor Swift and Bruce Springsteen – live music is flourishing, showing no signs of slowing down as the year churns on. While consumers might show some restraint on food items, durable goods, cars, and homes when prices get a little heady, that’s not been the case for concerts, especially for the mega-stars currently on tour.
If you plunked down the green or the plastic to see either Taylor or Bruce this year, you’re in good company. When it comes to just forking over the cash, Swifties and E Street acolytes simply have to suck it up as and pay the going rate. Despite a lot of economic pressures again this year, many people are doing just that.
A recent story in Insider quotes research company QuestionPro’s data that the average fan spent an astonishing $1,300 on Taylor’s “Eras” tour, including tickets, parking, food and drink, and of course, merch. But lots of people aren’t average, shelling out thousands, and often seeing Ms. Swift in more than one city and venue.
I’m not sure when the practice started where hardcore fans picked out a “cheap” show in another town, bought tickets, and then booked flights and hotels for the out-of-town location. That was something that only the super rich or radio people did. But now, it’s unusual not to run into an E Street Band fan(atic) who didn’t also see the Boss in Cleveland, Detroit, or some other city.
In many areas of our lives, money IS an object. We just won’t do certain things if we arbitrarily deem them to be too pricey – whether it’s a monthly car or house payment or the cost of a wedding
or similar event.
But with live music, all bets – and financial guard rails – are often off. Our lizard brains take over, giving us permission to spend insane sums of money to see these artists, sometimes because we believe it may be for the final time.
How often do superstar bands announce their live performances will be finished forever after this final tour is wrapped up? Yet somehow, these tours can go on for years. And often a decade later, the band (or its remains) gets back together, and announces their next final tour. And the cycle repeats itself. It just gets more expensive with each successive finale.
It looks like yours truly will be put to the test….soon. Earlier in the week, the Eagles announced their final tour, with opening act Steely Dan.
(OPENING ACT? STEELY DAN? Are you kidding me?!)
The tour stops in the Motor City on October 13. I have a feeling I won’t be traveling that Friday night when “The Long Goodbye Tour” comes to Little Caesars Arena in downtown Detroit:
JUST ANNOUNCED: The Eagles present The Long Goodbye – The Final Tour with special guest Steely Dan at The Garden on Sep 7! Access presale tickets starting Wed, Jul 12 at 10am with code GOODBYE.
Tickets go on sale to the general public Fri, Jul 14 at 10am. pic.twitter.com/cQrqIi3tGd
— MSG (@TheGarden) July 6, 2023
While I resisted Springsteen (I’ve seen him a dozen times, and snobbishly, in much more intimate venues than he plays now), I won’t get off so cheap with the Eagles and Steely Dan.
For me personally, there’s a powerful tug to go to this show. As most fans reason, this could be the last time we see the Eagles ever!!
The fact is, we have been fooled before and we will be fooled again. In fact, several times by the Who.
Lol… come on. Love Steely Dan & the Eagles but stop billing these concerts as farewell tours. https://t.co/BLBOvDg7r4
— Jane (@PlaintanJane) July 7, 2023
What explains this mindset, and how is it when it comes to concerts, we end up like Charlie Brown with Lucy and the football, at times swearing not to get sucked into these final tours, only to fork over gobs of cash this year, next year….and the year after?
A story by Lora Kelley in The Atlantic attempts to demystify the powerful hold concerts have on many of us. She lays these not-so-fun facts on us, with help from colleague Spencer Kornhaber:
- Unemployment is low, and lots of people still have surplus cash ready for an opportunity like Taylor Swift’s “Eras” tour.
- Many fans deepened their connection to musical artists during the pandemic. Now they want to experience them live.
- Unlike buying a house or a car for most people, deciding you’re going to fly to Denver to see the Eagles is an impulse decision. And lots of us are making them.
- The average resale price for a concert ticket more than doubled since 2019, from $116 to $240.
- And if you think inflation for gas or eggs is crazy, rising concert tickets prices are 2.6% higher than the overall rate of inflation in the U.S.
- There’s peer pressure among artists to raise ticket prices, especially when they see their mates get away with it.
And here’s a sad, sobering, and not-so-surprising addendum: smaller artists are finding that touring may no longer be a practical or sustainable revenue source, forcing many to cancel shows. When it comes to paying the big bucks on concert tickets, many fans go all in on the biggest acts. The smaller fish aren’t getting fed.
Perhaps the emotions behind paying small fortunes to witness big live concerts is best explained by Atlantic reporter Kornhaber:
“Having one special night with one particular, highly coveted artist in one space – you can never have it again. Live music is one of the most fleeting and scarce commodities that you can imagine.”
At these prices, we’re staying for the encore.
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4 Grand here, for 2 tickets – and not even particularly great ones – in Foxborough MA. Ugh.
A lot of these should be called the survivor tours. Let’s not forget all of the “tribute tours” mimicking big artists in their heyday. Some of them are better than the original artists these days.
I think that a lot of that also helps explain the allure of music festivals and similar events for many folks: Why shell out a lot of money to just see a couple of acts when you can see many (while perhaps being able to pick and choose among them), or even engage in some tourism at the same time?
As it turns out, the folks at Rádio Nova Era (perhaps Portugal’s main Dance/EDM outlet, even though it only covers Greater Porto) commissioned an economic-impact report about its recently concluded Beach Party that perhaps serves more as a demographic profile of the attendees. (It’s indeed in Portuguese, but Google Translate does work well here.)
https://radionovaera.pt/noticia/nova-era-beach-party-uma-aposta-ganha
Thanks for the article. Been a long while since I attended any concert. I have plenty of ticket stubs to prove I attended my fair share of them in the past.
One reason people go is for what I call the religious experience or spiritual experience one gets when one is immersed within a sea of humanity all singing and chanting to a band as they play songs that have played in the background of ones life. Its a powerful experience one that many chase after.
As for concerts I have YouTube which allows me to watch any band I choose on my big screen at no charge. Sure it may be an older show who cares that one has all the original members in it.
I love music but I’m tired of listening to the same songs again and again. Maybe when an upcoming band comes to town in a smaller venue I’ll check them out but I’m no longer interested in hearing auto tuned rockers of the past backed by pro musicians minus most of the original members, no thanks.
Best to you.
Steve Johann
https://concerts.fandom.com/wiki/Dick_Clark%27s_Caravan_of_Stars_1965 Dick Clark had the right idea…but the supergroups – Eagles, Bruce, Taylor, Steely – are apparently bucket list concerts. I’ve seen The Eagles TWICE -and there’s no doubt it was one of the best shows ever. Best part? Neither one of these acts need each other to sell tickets. It will be a great performance. Wonder how many “records” it will sell ?
2 days in a row you used the word “fart” but you didn’t today. I think George Carlin had some unique takes on the word if memory serves me.
I went out of town to see Bruce (who I’ve seen plenty of times) for a special occasion. He is selling the “CD” of each his performances on this tour. I bought the one from the show I attended. There is something really special about listening to a show that you’ve attended.
I agree with having the recording from a show you love, Jerry. As for the “fart” mentions, thanks for keeping me honest.
Most of us reading this fine article have seen a lot of the monster acts, sometimes behind stage. A few of us were privileged to intro the bands. (I even shot baskets with Joe Walsh on an early Eagles tour in Dallas!) My collection of vintage concert T-shirts may be my most valuable asset: First World Tours tees for Led Zeppelin, Pink Floyd, Zz and others. All in size of Small. Are there “Last Tour” tees at these so called final tours?
You probably speak for a lot of people of your generation who were able to leverage their radio careers to see these amazing legends play live. Thanks for connecting.