Taylor Swift’s Eras Tour has seen unparalleled success—so much so that it was even touted as a source of global economic growth last year! While we can’t confirm if Taylor contributed to the global economy, we do believe her tour has impacted the price of concert tickets overall. It seems other artists are trying to cash in on her success by selling higher-priced tickets this year. Are higher ticket prices here to stay?
Taylor Swift Hit Her “Wildest Dreams” as 2023’s Top Artist
As Time magazine’s 2023 Person of the Year, Taylor Swift was on top of the world, and so was the amount her fans were willing to pay to see her perform. As ranked by StubHub, Swift’s 2023 summer concerts had the highest average selling price of the year. Compared to other top 10 artists on the list, whose average ticket prices were less than $370, the typical Eras Tour ticket cost a whopping $900. And in many markets, the price was even higher.
For example, to get reasonably priced tickets, I had to drive to Foxboro, MA, to avoid paying the minimum selling price of $1,100 closer to home at MetLife Stadium.
Higher Prices: “Are You Ready For It?”
Graph created by Kristina Zucchi in excel
In the early to mid 2010s, the price of concert tickets had been generally flat, averaging $79.66. While prices rose slightly over the next few years, it took coming out of the pandemic for prices to jump dramatically. In 2022, they rose 10% from 2019, partly in response to pent up demand following the pandemic. But another reason for the uptick in prices was due to Taylor Swift tickets, which went on sale on November 15, 2022. (Remember the infamous crashing of Ticketmaster’s site and the subsequent Congressional hearing!)
In 2023, more dates were added to her Eras Tour, and concertgoers paid above-ticket-value prices on the secondary ticket exchanges, like StubHub and Vivid Seats, helping the average price leap another 23% higher.
Just a Swifty Phenomenon, or “Is It Over Now?”
![U2 is 2024 highest grossing concert.](https://totalapexentertainment.com/wp-content/uploads/2024/06/U2-300x200.jpg)
So far in 2024, the average price for concertgoers fell by almost 6% from a year ago–declining to $123.25 from 2023’s average price of $130.81. Despite the slight decrease, concerts and music festivals are still raking in the cash. According to Billboard’s midyear report (which excludes the Eras Tour), the combined gross revenue from the top 10 tours is up 83% this year. U2 leads the list but if the Eras Tour was included, T. Swift would likely be tops again.
So, the next time you fork over an excessive amount of money to see your favorite artist, “Don’t Blame Me”, but feel free to shout, Taylor Swift, “Look What You Made Me Do!”
About the Author
Kris Zucchi writes about sports and entertainment for Total Apex. She has an MBA from NYU and approaches her writing from a business and finance angle. She thrives on analyzing the music industry and trends that impact all music lovers. She also likes to compare the world of investing to professional sports. But at the end of the day, she’s a huge New York sports fan and can spend all day chatting (and lamenting!) about the Giants, Yankees, Rangers, and Knicks. You can find her sports content on Total Apex Sports.
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