The start of the pandemic led to the cancellation and postponement of hundreds, if not thousands, of events, including concerts and festivals, which impacted ticket sales. Even after the coronavirus pandemic began to wane, artists found it difficult to sell out shows, and attendance at festivals and concerts declined dramatically. The impact of the pandemic negatively affected the music industry, leading to artists to lose out on revenue. As a result, many artists substituted virtual concerts online to cover losses and expenses. 

Image Source: BillboardStaff/Gizelle Hernandez

Additionally, the pandemic caused supply-chain issues in the music industry. Dave Brooks, a senior correspondent for touring and live entertainment at Billboard, said concert venues were affected by shortages of supplies for any number of items, from golf carts to portable toilets, an issue that continues to reverberate today.

“The total supply available to everyone has decreased due to the pandemic,” Brooks said. 

Now many are looking to pull back from the music industry. “People needing money are selling their supplies, finding ways to pull money out of their business,” Brooks said. As a result, the cost of everything has increased. 

According to the National Institutes of Health, “Total monthly consumer spending on music decreased by more than 45% compared to pre-pandemic, with live music events and physical sales being the most severely affected.” The post-pandemic inflation increase has led to more people opting out of attending live shows. Prices have drastically increased, and more consumers do not want to spend out of their means because they cannot afford to.

“It used to be so simple and so cheap that everybody could enjoy themselves,” said Derek Simon, who covered Metlife events as a security guard from 2015-18. 

This bar graph highlights the 1,000-10,000 respondents per selected country who booked tickets to concerts/music events/festivals in the past 12 months. Click on the bar for the percentage. Source: Statista

This bar graph shows live Music Return From Covid in 2023, including concerts, musicals, operas, festivals, and other related events. Hover over the bar to see ticket sales. Source: Statista

Roody Michel, an architecture major at NJIT and avid music listener, said since touring has resumed and inflation has driven up the cost of ticketing, many people are reluctant to attend a live concert.

"There's not that many people that want to go anymore because of the money to pay to see it," Michel said. However, some consumers will pay an extra fee not to miss out on seeing their favorite act live.

Concertgoer Donovan, who only wished to be identified by his first name, attended the Renaissance World Tour, staged by Beyoncé, this past summer and purchased tickets very early out of fear there would be none left. "So I bought [my tickets] a couple of months ago because I was scared it was going to sell out," Donovan said. 

Concertgoer Natalie also had the chance to see Beyoncé at the Barclays Center in Brooklyn years ago and this past summer. “The extra fees were a lot. I think it was like $20 to $30 extra, which was wild,” Natalie said.

Video by: Jasmine Thelemaque

There is a certain level of expectation when it comes to a well-established Artist, especially if they have set the bar high with their level of performance. It is not uncommon for tickets to be priced higher than an Artist on the rise.

Jackson Warren, a student at Hofstra University, believes smaller Artists should not price tickets high because they have not established themselves.

“Now, to the Artists that are not that big, maybe they put their ticket prices a little bit high but not that high,” Warren said. “You’re starting out you're not like already there.”

Additionally, order processing, delivery, facility, and service fees add up when a consumer buys a ticket. Nonetheless, ticket sales fund the pockets of promoters after venues earn money from promoters when putting on a concert. 

Renaissance World Tour tickets ranged anywhere from a low of $134 for a basic seat in Kansas City to nearly $400 in Houston, according to Business Insider. 

Some have traveled outside the United States to Europe to avoid extra fees. Although tickets are cheaper, the consumer would have to consider travel expenses. According to Michael Clements, director of financial markets and community investment at the Government Accountability Office, consumers are getting more than just seeing their favorite artist by traveling. 

“They could look at the differential in ticket prices perhaps, along with the airfare, and put that into a vacation,” Clements said. “In their mind, what they’re willing to pay would justify that activity.” 

Image Source: Government Accountability Office (.gov)

The Biden administration is pushing for companies like Live Nation and Ticketmaster to eliminate fees to lower costs. In his 2023 State of the Union in February, Biden called on Congress, federal agencies, and private sector companies to disclose hidden fees. The Biden administration states, "Companies large and small that currently provide all-in pricing or are announcing a new commitment to do so in the coming months." Prices will be displayed upfront without surprises for consumers. 

Still, the post-pandemic inflation spike continues to impact consumers who attend concerts and major festivals, including Coachella and Rolling Loud. Fans continue to feel the effects of surging prices when purchasing online tickets to live shows and events because of fluctuating prices and online bot scalpers.