Coolfer on Rockonomics

« M.F.I.M.B.Y. | Riverview Music Festival in Chicago | Main | Open Thread: Big Week for Live Music »

Apr 26, 2006

filed under: links

Rockonomics: The Cost of Live Music | Coolfer

Today the top five percent of artists generate 84% of concert revenues. This says to Coolfer that the bands that draw the most people are getting those 98% of Americans who go to two or fewer concerts a year. A concert is a big night out for them, and the price tag for a big night out can be high.

But what about the bands that play for those 2% of Americans who are avid concert goers? While the Internet has caused ticket prices for premium concerts to rise, it's also enabled a flourishing market of lesser known acts and small clubs. And prices at those small venues are very affordable. The sequence of events is no longer: buy music, buy ticket, see band. Now it's often: visit band's MySpace page, buy ticket, buy t-shirt or CD at merch table.

posted by: Justin |

Comments (3) |

Comments

"While the Internet has caused ticket prices for premium concerts to rise.."

I wonder why that is or if the internet is even the reason concert prices have gone up.

Posted by: JD | April 26, 2006 9:24 AM

The opinion is that tickets were previously underpriced, and with the explosion of music available on the Internet (mainly file sharing, but I suspect also music stores and subscription services) there has been a correction in prices.

Posted by: Glenn | April 26, 2006 10:27 AM

i wonder how ticket prices compare when adjusted for inflation?

on a side note, i would never pay several hundred bucks for a ticket to lets say the stones or madonna. regardless of the music, i can justify spending a couple hundred bucks for a festival, several days worth of music, but not 3 hours of music that is 35 years old and might be include a backup tape (madonna?). lollapalooza's advertising $1 per band. now thats a good deal.

Posted by: nelsorp | April 26, 2006 11:57 AM

Comments are now closed for this entry. Carry on.