Live music ticket sales increase despite supply chain problems

2022-09-02 21:45:03 By : Ms. Nancy Li

Live events are returning at full blast this year and concertgoers are willing to pay a lot for them.

The big picture: The pandemic halted hundreds of shows and live events. But now, despite a summer of revenge travel and inflation, Americans are flocking to live events — and the concerts they're seeing are less glamorous than in the past.

What's happening: Some of the biggest names in the music industry are touring the country after taking the last two years off.

By the numbers: LiveNation, one of the largest concert management groups, had 12,500 shows in the second quarter of 2022 alone. That's 2,500 more than in 2019, before the COVID-19 pandemic.

Context: Ticket sales for concerts and live events are soaring due to increasing consumer demand, the Wall Street Journal reports.

Reality check: Live events and summer tours may be in abundance, and there's an appetite from consumers. But artists are struggling to find the instruments, equipment, and gear they need. More shows mean demand will increase.

What they're saying: "It's kind of just doing the work that's in front of us and getting it done, and hoping that, you know, the labor sorts itself out sooner than later," Nickleski tells Axios.

Worth noting: Many A-list concert performers — such as Taylor Swift, Drake, and Beyonce — have not announced tours yet.

Live events and concerts may be booming, but live theater and opera shows are not. The Met Opera said it only sold 61% of its available tickets last season — down from 75% seen at pre-pandemic levels, the Associated Press reports.

The bottom line: People are still eager to watch bands and other musical artists in person. But there are still supply chain issues causing hurdles for many groups, and that might only continue in the near future.

Editor's note: This story was updated to clarify Jake Berry is Coldplay's production manager.