Disconcerting Future For Music Concerts?
Music concerts: during the summer of 2023, The Eras Tour became the “it” place to be. Celebrities, young adult gen-zers, suburban millennials and everyone briefly embraced “Swiftism.” The Taylor Swift phenomenon reached its zenith, and the ensuing FOMO was real. After 149 shows in 51 different cities, the “Cruel Summer” singer created a “sizable socioeconomic impact.” When The Eras Tour concluded its excursion, it sold a staggering 10 million concert tickets across five continents. Upon crunching the numbers, The Eras Tour generated over $2 billion in revenue.
Music Concerts: Astronomical Prices For Nosebleeds
Despite falling short of Rod Stewart or Jean-Michel Jarre’s records for highest music concert attendance, Swift did something more. She rekindled engrossment in the non-median concertgoer. Thanks to the widespread demand and limited supply, “the median ticket price for the Taylor Swift Eras Tour was $1,550 per seat.” Ironically, this whopping price was mostly for the “nosebleeds” that Taylor Swift fans repeatedly defended on social media.
Then, the aftermath followed. The Daily Mail reported in March 2025 on the byproduct of such astronomical prices, and the succeeding incongruity. Mail’s headline read: “Gen Z and millennials admit they are going into massive debt to attend concerts like Taylor Swift’s Eras Tour.”
In the same article, the British tabloid dissected the lurid reality. “For Gen Z and Millennials, who’ve grown up in a shaky world—think recessions, pandemics, and all that jazz — this isn’t just about being impulsive,” Dr. Poffenroth divulged. “Uncertainty cranks up the brain’s craving for meaningful ‘now’ moments, like a concert, over saving for a future that feels like a question mark.”
Impact Of Economic Slowdown On Music Concerts
This isn’t limited to The Eras Tour either. Forbes reported on this Buy Now Pay Later (BNPL) facet of Coachella attendees. Jack Kelly in his article wrote: “Festivals offer instant gratification, and BNPL makes it attainable, even if it means $200 monthly hits later. This echoes a broader “YOLO economy,” where 60% of Millennials report spending on experiences over necessities.” As the economic downturn lurks around the corner, waiting to rear its ugly head, stakeholders are growing increasingly concerned. Users on Reddit anecdotally reported that Beyoncé’s “Cowboy Carter and the Rodeo Chitlin’ Circuit Tour” is witnessing several empty seats. Similarly, a touring Billie Eilish “Hit Me Hard and Soft: The Tour,” expects to face economically cautious fans.
Unless ticketing monopolies and the issue of scalping is addressed, it is indeed a long road ahead for everyone involved.