AARP Hearing Center
Concert tickets were once affordable. A ticket to Eric Clapton’s 1983 performance at Philadelphia’s Spectrum arena sold for $6.50, with no additional fees. I know; I found the ticket in my attic, a memento of that show.
But if you went see Clapton in Philadelphia’s current arena, Xfinity Mobile Arena, this past September, a similar seat would have cost you $397.70. Plus fees!
And no, you can’t blame inflation. That $6.50 ticket would cost about $21.50 today.
Why were tickets for top musicians so reasonable then yet so stratospheric now?
“Some would argue that live music was traditionally far undervalued,” says Andy Gensler, editor-in-chief of Pollstar, a concert trade publication. “In 1983, artists made the majority of their income from recorded music.” Concert tours were a means of album promotion. But the rise of streaming music and its relatively paltry royalty payouts has altered the equation.
There’s another factor at play here: It’s much easier today to resell tickets legally. “Scalping is the reason that tickets cost what they do now,” says Larry Magid, retired legendary concert promoter. “A scalper will take the tickets and sell them for whatever the market will bear. The recording artists now want the money that the scalpers are getting, since they’re the performers.”
And this means that ticket prices are starting higher. Or by the time you get around to buying them, they’ve already been bought up, and the secondary market has driven the price even higher. Some artists are even using a system called dynamic pricing, which can change the face value in real-time, depending on demand, similar to how hotel rooms and airfares are priced.
But there are some options for savvy and industrious fans who want to see the hot shows without spending a fortune.
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