PARIS, Dec 13 — It was thought that 2023 would be the year that things got “back to normal” for concerts. But evidence suggests that it turned out to be a bumper year for live music tours. According to Pollstar, the world’s 100 biggest tours grossed US$9.17 billion (RM43 billion0 over the last 12 months.

Grosses for these 100 tours are up 46 per cent on the US$6.28 billion recorded in 2022. According to Pollstar, “2023 was a colossus, the likes of which the live industry has never before seen.” Several factors contributed to this exceptional growth.

First, the number of tickets sold rose from 59 to 70 million, an increase of 18.4 per cent. But it was above all the soaring price of concert tickets that played a key role.

On average, they climbed 23.33 per cent, from US$106.7 to US$130.81. This rekindled fears that these musical gatherings would become even more of a luxury leisure activity.

Moreover, 2023 defied all expectations thanks to the gigantic tours organised by some of the biggest names in music, including Taylor Swift. The American singer, named Person of the Year by Time magazine, generated over US$1 billion thanks to her huge “Eras Tour.”

She becomes the highest-grossing artist in the history of the music industry, ahead of UK artist Elton John, whose farewell tour, “Farewell Yellow Brick Road,” grossed US$939.1 million.

Taylor Swift and Beyoncé

And that’s just the beginning. Taylor Swift’s current run of shows, due to end in December 2024 in Vancouver, is expected to gross US$2.165 billion, according to Pollstar estimates.

To date, the 33-year-old artist has given 60 performances in 24 cities, each attracting an average of 72,489 spectators — an impressive feat considering that the average ticket price is US$238.95.

Interestingly, however, these were not the most expensive concert tickets on the market. Fans had to spend an average of US$259.99 to see Canada’s Drake on stage as part of his “It’s All a Blur Tour.”

Beyoncé also contributed to the live music industry’s robust financial health in 2023. The American superstar raked in US$580 million from 56 concerts, making her “Renaissance World Tour” the second highest-grossing world tour of the year. In the process, she shattered the record set in 2022 by the Puerto-Rican artist Bad Bunny.

The presence of Taylor Swift and Beyoncé at the top of Pollstar’s annual ranking of top-grossing tours marks a turning point in the history of the live music industry. This is the first time in 15 years that two women have topped the chart.

“The duo not only smashed the glass ceiling but created a more inclusive roof in their wake,” Pollstar notes in the report.

While all these figures are very encouraging, it should not be forgotten that they only concern the behemoths of the entertainment sector.

Many concert venues are struggling to make ends meet due to generalised cost increases and labour shortages. Mark Davyd, chairman of the UK’s Music Venue Trust, drew the issue to the attention of the UK Parliament in January.

“The distribution of wealth in this industry has got to change and be sustainable for grassroots or we all heading down over the cliff. You’re coming with us, you’re chained to us, don’t leave us dangling, come and support us,” he told UK Members of Parliament. — ETX Studio