In recent times, the prices of concerts have skyrocketed. It has surprisingly become nearly as high as any other mortgage payment. These high prices have not disheartened the fans from going to their favorite concert and enjoying their time. The face-value tickets were somehow affordable but the reseller acquisition has increased their price.
With all these high prices, you might have wondered how concerts are so expensive. Let’s dissect the causes and price breakdown of concerts in this blog and see how much concerts usually range.
Why are concerts pricey?
According to the Los Angeles Times, the change in ticket prices is usually because of five major components: artists, promoters, concert ticketing companies, and ticket resellers.
Promoters are responsible for officially determining ticket prices, but they can suffer financial losses if a concert fails to sell enough tickets. The venue usually decides the pricing of small artists.
Concert venues earn revenue from promoters for hosting events, while promoters make their income from ticket sales. Additionally, there may be extra charges such as service fees, processing fees, delivery fees, and facility charges, which can appear when purchasing tickets, as stated in the Los Angeles Times.
Over the last five years, the average ticket price has shown a much larger increase compared to the annual inflation rates.
The most significant shift in ticket pricing can be attributed to the implementation of service fees. Before the 1980s, ticketing services were paid by venues. However, Ticketmaster changed this model by compensating venues for the ticketing services and then passing on the associated costs to customers in the form of service fees.
Since these fees are changeable, like the negotiations between concert promoters, venues, and ticketing services, service fees have been generated as a whole new cost.
So the crux is that concert prices can vary due to a lot of factors and different conditions.
Mandatory things you pay in a concert ticket
If you are a regular buyer of concert tickets, it may be head-scratching to know “Where is my ticket price applied?” The actual ticket price may start at $30, and by the end of all the inclusions, it can reach up to $50.
Let’s dig out the anatomy of printing a concert ticket yourself or by a reseller.
Artist gets the most money
It is justified that the artist who is performing on the big stage gets the most money. The audience is there to listen to him or her and that’s what they pay for. Although artists get a very small chunk of the price for music sales (about 10%) but get much higher prices when they do tours. On average an artist takes about 70% to 80% of the ticket price.
Convenience fees
These fees vary by retail or box office and the event. They are divided between artists, venues, promoters, and the main resellers to cover their substantial profits.
Facility and delivery charges
If you choose home prints or standard delivery affects the price of the tickets. It also can be affected by the responsibility of the facility.
Taxes
Local, city, or state taxes apply to all concerts just like any other thing. These are not considered service fees and are included in the final price.
How to get the best ticket prices?
Mostly you will get your tickets booked from a reputable tickets dealer like Tickets Jackass for saving costs. But if you want to buy them directly from the website, there can be a lot of discounts as well. If you choose an online store over a physical one, you can avoid rushes and conveniently book your tickets.
Avoiding scalpers is one thing you must do. They will charge more fees for the tickets and once they find another pricier option, they can cancel your subscriptions.
Final words
Concerts are a great way to enjoy and get yourself entertained. Whether you are a singer’s fan or want to see a pianist, you need a price to pay. The tickets are a bit pricey compared to other entertaining events. It is because there are a lot of service fees and of course, the people are there to see their favorite artists. They pay a hefty amount to see them perform which results in the high price of the tickets
Certain things that contribute to making a concert happen are the contributing factors in the ticker price and that is why you have to sometimes pay more than the basic service fees. They can be dependent on the venue, the artist’s popularity, and the promoters. Consider all these factors before buying a concert ticket.