Artists have been back on the road for a full year, and the top 10 highest-grossing tours are thriving. Will that success spread?
But the business also experienced a sharp uptick this year, driven by a combination of pent-up demand, a number of big tours and inflation. Sixteen tours crossed the $100 million mark, and the number of concert tickets sold in the first three quarters of 2022 was up 37% over 2019, according to Live Nation’s most recent quarterly report.
The bad news, however, is twofold: More work for fewer employees in the wake of pandemic layoffs, plus rising costs for staffing, production and travel, threaten to erode profits. “We are working harder than ever just to try and make sure we don’t lose any ground,” says Jim Cressman, founder and owner of Canadian independent promoter Invictus Entertainment.
Cressman and Live Nation executives say that fans also seem to be changing their concertgoing habits by waiting longer to buy tickets. About 30% of tickets for this year’s Lollapalooza festival in Chicago were purchased five days or fewer before the event, according to Live Nation. It’s a concerning trend for promoters and tour organizers who have become accustomed to scaling event costs up and down based on projections from early sales.
The top 10 tours also represent one of the youngest lists in recent years, with an average headliner age of 49.3, as opposed to 51.2 in 2019 and 54.6 in 2021. The oldest act was The Rolling Stones — Mick Jagger and Keith Richards will both be 79 by the end of the year, and Ron Wood is 75. The youngest acts wereAs in years past, Live Nation dominated the business, exclusively promoting half of the top 20 — which grossed a combined $1.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
AP Top 25: Georgia, Michigan, TCU, Ohio State on top🏈 Georgia, Michigan, TCU and Ohio State were the top four in the final Associated Press college football poll of the regular season. Do you think they got it right?
Read more »
AP Top 25: Georgia, Michigan, TCU, Ohio State on topTCU (12-1) remained third, despite losing for the first time this season in the Big 12 title game on Saturday. The Horned Frogs lost in overtime to Kanas State.
Read more »
Christian bakers, artists rally for Colorado website designer outside high courtChristian bakers, artists and photographers from across the nation had a message Monday for Colorado website designer Lorie Smith: You’re not alone.
Read more »
Christian baker, artists rally for Colorado website designer outside Supreme CourtChristian creators, artists and photographers from across the nation had a message Monday for Colorado website designer Lorie Smith: You're not alone.
Read more »
Exclusive: Adobe will sell AI-made stock imagesThe software giant sees a future in which designers and artists collaborate with AI systems.
Read more »
Variety’s Hitmakers 2022 Red CarpetVariety’s annual Hitmakers honors kicked off on Saturday morning with red carpet arrivals of the top talent in the music industry, with artists like Jack Harlow, Dua Lipa and Selena Gomez rol…
Read more »