Live Music Industry Tour Cancellations and Changes
The live music industry is experiencing a potential slowdown post-pandemic due to consumer spending fatigue and elevated ticket prices, leading to tour cancellations and changes by big-name artists. Some factors contributing to this include decreased demand for expensive tickets, oversaturation of the market with tours, and rising touring costs. Experts suggest that the live music industry may be returning to a more normal pace after a period of explosive growth following the pandemic.
Key Points
- Decreased demand for expensive tickets
- Oversaturation of the market with tours
- Rising touring costs
Pros
- Some artists are transitioning to smaller, more intimate venues for a better experience for fans.
Cons
- Rising ticket prices and oversaturation of the market are leading to tour cancellations and changes.