Fans are shelling out a fortune for tickets to see the world's biggest music acts, including names like Taylor Swift and Bruce Springsteen who haven't toured for years. 'People are willing to splurge because they know they will get quality content, plus who knows when or if she'll do another tour after this one,' said London-based Beyoncé fan Mario Ihieme. The United Kingdom's recreation and culture prices rose 6.8% in the year to May 2023, their fastest in 30 years, with the largest effect from cultural services, 'particularly admission fees to live music events'.
LOS ANGELES/GLASTONBURY, England - Call it Beyflation. Or maybe Swiftflation.
The United Kingdom's recreation and culture prices rose 6.8% in the year to May 2023, their fastest in 30 years, with the largest effect from cultural services, "particularly admission fees to live music events". "I had to get nine phone numbers for three different accounts on Ticketmaster under three different credit cards," said Joel Barrios, a Beyoncé fan in Los Angeles. He spent about $7,000 on three U.S. shows for himself and friends - as well as another $6,650 for several shows in Europe.Others say they had an easier time. Carolina Candelas spent 92 euros each to see Beyoncé with her sisters and parents in Barcelona.
The U.S. Labor Department does not specifically measure inflation for concert prices, but the inflation rate for live performing admission events is currently 2.6 percentage points more than U.S. headline inflation. That gap has increased this year as headline figures have declined.Across Asia, crowds are flocking to see marquee names like Bruno Mars, Coldplay and the Backstreet Boys.
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