2023-07-15 10:52:29
Summer 2023 witnesses the return of major concerts with their large audiences
The summer of 2023 witnesses the return of major concerts that attract audiences that fill stadiums, similar to those that stars Taylor Swift and Beyoncé perform during their tours, despite complaints regarding high ticket prices, and it is not excluded that the proceeds of a tour of this kind exceed the threshold of one billion dollars in revenue.
Pop-country star Taylor Swift and Beyoncé, known as Queen B, are among dozens of superstars who have revived tours; In response to the increasing demand for concerts, following the latter witnessed cancellations or postponements due to the “Covid” pandemic.
Beyoncé, known as “Queen B” (AFP)
From Pink and Coldplay, to Bruce Springsteen and Drake, passing through Beza and The Weeknd, stadiums in the United States and around the world will be filled with audiences, making 2023 expected to witness record-breaking concert revenues.
“I have never seen so many artists on stage at the same time and in the same place,” says Stacey Merida, a professor at the American University who conducts research in the field of music.
Elton John ahead of Ed Sheeran
Madonna, who is a leading name in contemporary tours featuring decorations and costumes, was supposed to start a world tour in mid-July, but she had to postpone it for health reasons.
And then Taylor Swift, 33, is closer to achieving revenues of one billion dollars, as she performs 106 concerts as part of her tour entitled “Eras Tour”. Observers expect similar success for Beyoncé, who began performing in North America as part of her “World Renaissance Tour”.
The record recorded to date belongs to Elton John, whose farewell tour, “Farewell Yellow Brick Road”, which began in 2018 and ended on July 8 of this year, in Stockholm, achieved $ 910 million until June 18. According to the site «Billboard Boxcore».
Elton John set a record on his farewell tour, “Farewell Yellow Brick Road” (AFP)
Before John, pop singer Ed Sheeran had made $776 million from his “Divide” tour (2017-2019).
And while the average ticket price for an Ed Sheeran concert reached $100, according to Polestar.com, the cost of any regular ticket to a Beyoncé or Taylor Swift concert exceeds this amount by two or more times.
Beyonce and inflation
The “Live Nation” entertainment company, which merged with the “Tickmaster” website to sell tickets in 2010, indicates that it has sold more than 100 million tickets to date in 2023; That is more tickets than were sold in the entire year of 2019.
And Live Nation says, in its latest published results, “In a world that has almost completely reopened, it is only natural that concerts are a priority for their fans.”
An economist mentions that Beyoncé’s two concerts, which she performed in Stockholm in May, were one of the factors behind inflation in Sweden.
And the demand is high, in light of the growing dissatisfaction with the dominance of “Live Nation” and “TicketMaster” in the field of ticket sales.
Concert fans have complained for years regarding hidden fees, sky-high ticket prices and the lack of tickets available because a number of them are already sold out.
“monopoly”
This issue returns to the fore, following the chaos that occurred in the sale of tickets to Taylor Swift’s tour, as those in charge of “TicketMaster” had to explain to the US “Congress” anti-competitive practices that the site was accused of.
“Vertical monopoly has a large number of indirect effects on prices,” says Andrew Leaf, an expert in the music field at the University of Southern California.
Pop-Country star Taylor Swift (AP)
He added, to Agence France-Presse: “Ticketmaster can set prices as you like, as there is no competition for them, in addition to the great demand for Swift and Beyoncé concert tickets. It is a matter of supply and demand.” He continued, “They can set the prices they want, and that’s what they do.”
However, he considers that the boom in concerts does not necessarily benefit everyone, especially small groups. And he asserts: “There are two fields of music: one is for 1 percent of people, and the second is for 99 percent of them.”
Although expensive concert tickets are a lifeline for artists, the royalties they receive from streaming are still low.
However, compensation in the post-pandemic period raises demand and prices in various fields, from the cost of renting halls to bus tickets.
And last fall, the artist Santigold was the first to address these difficulties, and she canceled her tour, explaining that she was “simply unable to launch it.” The most prominent reasons are inflation and competition in a glutted market.
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