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How Soaring Concert Costs Drove the Live Music Business to New Heights in 2024
As ticket prices exploded, Coldplay, P!nk and more brought in staggering grosses on the touring market. The festival business showed signs of decline.
Since top acts typically sell out most dates, three major factors influence tour grosses: number of performances, size of venues and ticket prices. Over the past few years, companies like Live Nation’s Ticketmaster and AEG’s AXS have invested millions in software to price seats dynamically, in real time, according to demand. Artists that play festivals generally agree to increasingly rigid radius clauses that restrict how close to the event they can perform and when they can promote their nearby shows.
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