Concert prices are getting more and more expensive with tickets for top artists sometimes reaching thousands. Here’s why Gen Z are literally paying the price. Veuer’s Tony Spitz has the details.
Category
🗞
NewsTranscript
00:00Concert prices are getting more and more expensive with tickets for top artists sometimes reaching thousands
00:05So what are younger generations like Gen Z doing especially in the face of an already difficult economic landscape?
00:11Well, a New York Times report reveals many of them are simply going into debt
00:16Polestar recently reported that a concert ticket to a top show in
00:191996 was just $25.81 or $52 when adjusted for inflation now
00:25They're going for one hundred and thirty five dollars and ninety two cents
00:28But that's if you can even get tickets before
00:30Resailers gobble them all up for reference business insider reported the average resale price for a Taylor Swift heiress to her ticket went for around
00:39$3,800 the alleged monopoly held by live nation ticket master
00:42Which is currently under litigation by the DOJ has likely also contributed to soaring prices
00:47But that's not stopping fans multiple surveys have revealed the Gen Z and millennial fans will not only drop more money
00:53But also travel further than older generations have historically to see their favorite bands
00:58So why is it so important according to one survey?
01:0186% of Gen Z said they overspent on seeing concerts all because of FOMO or the fear of missing out