Taylor Swift’s Eras tour and the Gallaghers’ ill-fated dabble with dynamic pricing have put the spotlight on how much we’re willing to pay for live music. But, on the other side of the equation, the costs can be exorbitant and the risks are eye-wateringThe news that Oasis were to reunite sparked a wave of euphoria across the nation at the end of last summer. But the nostalgia balloon was quickly punctured by the discovery that the tickets, initially priced at £148.50, had suddenly leapt to £355.20 due to dynamic pricing. The outcry quickly sparked a new debate about what constitutes a “fair” price for gig tickets, with the band themselves fanning the flames: Liam Gallagher told those bellyaching about the lack of transparency to “SHUTUP” and buy “Kneeling only” tickets for £100,000 instead.Dynamic pricing, where the cost rises in real time in lockstep with demand, is hardly new. Parallels are often made with the surge pricing used on budget airlines and taxi-booking apps, ...
This article aims to deconstruct the perceived profit-driven nature of the gig economy, specifically focusing on concert ticket prices.
The main argument is that while large-scale artists may rake in significant profits, the majority of smaller and mid-sized musicians and venues lose money on ticket sales.
This is due to escalating overhead costs, such as venue rentals, staffing, and artist fees, which necessitate increasingly higher ticket prices, especially for larger venues. However, the article highlights that even at those larger venues, the profit margin for smaller acts is still often slim.
Ultimately, the article reveals that the gig economy isn't as lucrative for everyone as it might seem, especially for those just starting out, and that the perception of "ticket inflation" is a complex issue with multiple factors at play.
This article aims to deconstruct the perceived profit-driven nature of the gig economy, specifically focusing on concert ticket prices. The main argument is that while large-scale artists may rake in significant profits, the majority of smaller and mid-sized musicians and venues lose money on ticket sales. This is due to escalating overhead costs, such as venue rentals, staffing, and artist fees, which necessitate increasingly higher ticket prices, especially for larger venues. However, the article highlights that even at those larger venues, the profit margin for smaller acts is still often slim. Ultimately, the article reveals that the gig economy isn't as lucrative for everyone as it might seem, especially for those just starting out, and that the perception of "ticket inflation" is a complex issue with multiple factors at play.
