Higher ticket prices are the reason behind record revenues for the Pollstar 50 best selling tours this year, jumping more than 12 per cent year-on-year.
In the first half of 2018, the top 50 tours earned a total of more than $2.21bn in sales revenue, and it is not down to an increase in the number of tickets, but rather the cost.
The average ticket price is now sitting at a steep $96.31, which is a 14 per cent increase from last year and a nearly $12 jump over 2017’s $84.40.
The sharp increase addresses the industry’s assertive pricing strategy to better meet demand and exclude the secondary market.
The numbers indicate that the volume of tickets sold actually went down from last year from 22.8 million in 2017 to 19.1 million. In fact, the average number of tickets sold per event went from 9,129 in 2017 to 8,637 in 2018.
Ed Sheeran, whose promoter Kilimanjaro Live has recently been named in a lawsuit by controversial ticketing site Viagogo, took the top spot on Pollstar’s 2018 mid-year list, which came out in July.
The British popstar brought in more than $213.9m, which is the largest ever recorded on the Pollstar chart. It marks a 40 per cent increase over last year’s number one Guns N’ Roses, which totalled $151.5m