Average Concert Ticket Price Hit All-Time Record $123.25 in Q1 — But Has the Industry Reached Peak Pricing?

average concert ticket price 2024
  • Save

average concert ticket price 2024
  • Save
Photo Credit: iHeartRadioCA / CC by 3.0

The average concert ticket price has hit a record high of $123.25 in Q1, but with some artists struggling to sell tickets, is that number sustainable? Here’s what’s really going on.

Artists like Taylor Swift and Beyonce continue to sell concert tickets at record numbers, with Swift’s Eras Tour becoming the most profitable concert tour in music history. So why are some artists, like Jennifer Lopez, Justin Timberlake, The Black Keys, and even Bad Bunny, unable to sell out their recent shows?

It’s hard to argue that the landscape of the live entertainment industry looks a little different in the post-pandemic world. Ticket prices keep climbing, and even when they’re priced more reasonably, they’re not easy to score. And some artists might be overestimating their mass appeal, booking massive venues and then being met with surprise when they don’t sell out.

Jennifer Lopez has cancelled her tour, citing that she was taking time to be with her family, but the sales of her latest album and its Amazon Prime companion film have been weak at best. Her planned Las Vegas residency is also reportedly in jeopardy as a result.

The Black Keys dialed back their planned arena tour to retool it for smaller venues. Bad Bunny reportedly cancelled his Minneapolis show due to poor sales, while murmurs abound that shows for Charlie XCX, Troye Sivan, Pink, and Justin Timberlake have also been slow to sell tickets.

According to concert ticket tracker Pollstar, the average ticket price for the top 100 tours in the first quarter of the year was a record $123.25. But the average concertgoer doesn’t have the funds in reserve for shows like they did fresh out of lockdown. Most of them blew their “funflation” dollars on major experience performances like Beyonce and Taylor Swift, leaving little room for comparatively smaller stars, especially at premium prices.

Live Nation, parent company of Ticketmaster, currently embroiled in legal unrest, insists that its artists — namely Timberlake and Pink — are doing “extremely well.” A spokesperson for the company also asserted to the NY Post that Charlix XCX, Troye Sivan, and the Wallows’ tour are all “selling well.”

“Every year, some events naturally fall off for various reasons, and in 2024 across all venue types we’ve seen a 4% cancellation rate — which is flat to last year,” says Live Nation. The company reports it has sold 100 million tickets this year so far, up from this time last year.