Taylor Swift rakes in mone.y after 18 months of touring, her dominance is no small feat

Taylor Swift is wrapping up her " The Eras Tour" after a record-breaking 18-month global tour. According to Forbes, the tour grossed $1.93 billion from 121 shows, with tickets averaging $254 and sometimes as high as $3,801.

Chris Leyden, chief marketing officer at SeatGeek, said the market is currently divided into two distinct extremes. On the one hand, artists like Taylor Swift or Beyoncé with their "Renaissance World Tour" are still attracting large audiences despite high ticket prices. On the other hand, many mid-level artists like Hozier, Kacey Musgraves or Jennifer Lopez are struggling because ticket sales are lower than expected.

For example, tickets for Jennifer Lopez's "This Is Me... Live" tour cost as little as $10, but venues still didn't fill 70% of capacity. This is a clear indication that audiences are becoming more selective about the events they attend, as inflationary costs put pressure on artists and fans alike.

Jonathan Bricker, an assistant professor at Berklee College of Music, points out that inflation causes artists to incur higher costs on tours, from equipment rentals to staffing to transportation. This forces them to raise ticket prices, but it scares off audiences. In fact, the average ticket price for mid-level artists dropped nearly 23% from the first month of listing to the last month.

Ticketing platform Automatiq says 37% of tickets in the $50-$200 range are sold below cost. For acts like Ice Spice, Omar Apollo, or Gir.l in Red, the average ticket price is under $50, but it’s still hard to fill the arena. “We’re only selling 50-60% of our tickets,” admits Mike Finn, tour director for Imagine Dragons. “Part of that is due to the saturation of the music market right now.”

This has led to audiences shifting to other events like sports, where tickets are more affordable and accessible. SeatGeek found that 40% of its users bought tickets to baseball games instead of concerts, especially in the first weeks of an event.

To address this crisis, Mike Finn believes that the music industry needs change from many sides. Reducing the cost of venues, equipment and logistics services could be a solution to help artists maintain their activities without facing revenue pressure.

However, artists also need to improve the quality of their shows to meet the high expectations of audiences. Tours like "The Eras Tour" attract not only with their music but also with their elaborate investments in stage, lighting and special effects. This creates a comprehensive experience that audiences are willing to pay for.

In a competitive market, Taylor Swift continues to prove that innovation and careful investment always bring worthy results. On the contrary, mid-level artists need to find ways to adapt if they do not want to fall behind in the race to attract audiences.

The Eras Tour is scheduled to conclude in December with three concerts in Vancouver, Canada. To show her appreciation to her fans, Taylor Swift has decided to launch a new series of tickets priced at just over $16. According to the Daily Mail, the location of this cheap ticket package is at the back of the stage, meaning that the audience cannot see the idol, but can still hear her voice at the closest distance.

The news has fans excited because they can see Taylor live without the financial burden. "Imagine paying just over $16 for a seat with no view and still getting to hear the best concert of your life," one comment received a lot of support from the online community.

Others chimed in: "I'll do anything to get a $16 Eras Tour ticket, even if I can't see anything", "We're going! I don't mind not being able to see the stage, the price is great. I just want to be there on closing night to hear the final surprise songs live", "Can someone help me get tickets?"...

Taylor Swift hủy 3 show diễn thuộc The Eras Tour tại Áo, fan hâm mộ phản ứng lạ An Nhi09:28:12 09/08/2024Việc các quan chức phát hiện kịp thời cũng như phía Taylor Swift chủ động hủy bỏ ba show diễn thuộc The Eras Tour tại Áo được cho là sẽ giảm thiểu tối đa những hậu quả không mong muốn.