Revenue / 04.30.24

Mid-Level Touring: Cruising or Crisis?

Access Staff

IQ Magazine (04/29/24) Hanley, James

There is growing concern that the major, high-end, high-priced concert tours are causing a vacuum for mid-tier acts. On the surface, the concert touring business is sizzling. The worldwide top 100 tours earned $9.2 billion last year — a 46% year-over-year increase, according to Pollstar. Attendance climbed 18.4% in terms of total tickets sold to 70.1 million. But such numbers don't tell the whole story. Production costs have soared post-pandemic. With margins on mid-level shows much tighter than arena shows and beyond, some promoters are saying that the economics of some tours now just don't add up. CAA's Maria May, chair of Open Forum, remarks, "We're fully aware that in the middle and lower range, it is tough — really tough. And at the 1,000- to 3,000-cap level, there are reports of artists who are deciding not to tour at all. The budgets simply don't add up, and artists are just not going on the road."

Read the full story from IQ Magazine.

Tags: Revenue , tours