High ticket prices has many artists cancelling their tours | Music News: News that's Music literally

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Music News: News That's Music... literally

Several major artists, including Jennifer Lopez and the Black Keys, are canceling or altering their tours due to a combination of high ticket prices and consumer spending fatigue. Evidence suggests a slowdown in live music demand, with average resale ticket prices for summer concerts dropping. While some high-demand artists like Olivia Rodrigo and Morgan Wallen still command high prices, others face challenges filling venues. Contributing factors include a saturated market with too many tours, post-pandemic economic adjustments, and consumers prioritizing essential expenses over concert tickets. Additionally, there's a shift in the music industry where tours are now primarily used to generate revenue rather than promote albums.