Concert Ticket Prices Dropping Due to Poor Sales; Taylor Swift Still Bringing in the $$
What's keeping the extra bucks in your pocket? CD sales have been dropping for years, so music artists and the teams behind them used concert tours to bring in the cash flow. But, like almost everything else, the economy has hit their wallets hard.
According to a report by Pollstar, sales are down for 2010 and expected to keep on slumping. This is leading to big name summer tours canceling shows (Jonas Brothers, Rihanna, American Idol to name a few) and others slashing their ticket prices.
But not everyone is hurting. The top tour for the year is Bon Jovi, with Taylor Swift not far behind.
"Promoters selling tickets to Lady Gaga, Taylor Swift, Justin Bieber, or Muse shows are not crying," Pollstar states.
Many would say it's about time concert tickets dropped in price. In 1996, the average ticket sold for just over $25. In 2008, that skyrocketed to $67.33. This summer, the average is down a bit to approximately $61. Is that still too high?