High concert ticket prices lead to debate over industry greed and fair competition

From Sky News: 2024-06-03 02:56:29

Live concerts tickets have surged in price, with big artists like Bruce Springsteen charging over £120 for standing tickets, leading to fans questioning where all the money is going. Factors contributing to the rise in costs include the demand for big spectacles and the rising expenditure on venue hire and artist needs.

Artists like Taylor Swift, who reportedly earns between $10m and $13m per tour stop, receive a significant share of revenue from their concerts. Critics argue that high ticket prices show greed in the music industry, with some artists capping ticket prices to combat industry greed and make shows more accessible.

Ticketmaster, accused of charging “sneaky” fees on top of ticket prices, is facing backlash from fans and artists alike for the extra charges added at checkout. The US government is suing Live Nation, Ticketmaster’s owner, over allegations of monopolizing the live events industry, sparking a debate about fair competition and ticket pricing practices.



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