Ongoing History Daily: Another reason concert tickets cost so much
We’ve seen the price of concert tickets spike by insane amounts over the last 25 years, largely because now that no one buys high-margin physical music the way they used to, most of their money needs to be made on the road—and touring is expensive, and inflation keeps on getting worse. But here’s another reason: insurance.
Over the last decade-and-a-half or so, we’ve seen violence at concerts and street festivals ranging from mass shootings (such as the Route 91 Harvest Festival in Las Vegas) to suicide bombings (think of the Ariana Grande incident in Manchester), and car attacks (like what we saw with the Lapu-Lapu Day event in Vancouver). Last month, Morrissey canceled some shows after a credible death threat. Security risks have never been higher.
Performers, promoters, and venues have no choice but to pay higher—much higher—insurance premiums. And guess who ends up paying for that in the price of a ticket?
