Why some major artists are canceling shows and, in some cases, entire tours

A series of tour cancellations and big-name artist changes have sparked questions about whether the post-pandemic live music boom could be slowing, as consumer spending fatigue is matched by price tags. high tickets.

On Friday, Jennifer Lopez announced she was canceling her 2024 tour, citing a desire to spend more time with her family. Meanwhile, the Black Keys announced they were abandoning the stadium tour in favor of a series of shows at smaller venues.

Both tours have been the subject of social media coverage recently, including screenshots showing empty venues on some tour dates. (NBC News was unable to directly verify their authenticity.)

In fact, some signs of a slowdown are anecdotal. SeatGeek said in an email that the average resale price of a ticket to attend a summer concert has fallen to $213, compared to $257 this time last year. The company suggested that part of that decline could be attributed to the lack of megatours comparable to Taylor Swift’s “Eras Tour” and Beyoncé’s “Renaissance” releases last year.

For artists whose popularity has crescendoed, there appears to be high demand – and high prices. The average resale price for Olivia Rodrigo’s “Guts” tour is $571, and the highest price is $409 to see Morgan Wallen, according to SeatGeek data first reported by Axios.

Many of these tours are sold through Ticketmaster and its parent company Live Nation. And before facing historic accusations that it is a monopoly, a claim it denies, Live Nation reported its biggest first quarter ever, with $3.8 billion in revenue . Its concert business alone grew 26% to $2.9 billion, while global “estimated fans” grew more than 20% and 42% in North America.

Yet official government data suggests a return to a more normal pace for live music event sales after a post-pandemic boom. The U.S. Bureau of Labor Statistics reported last month that admission prices to movies and concerts rose just 3.4% year over year through April, the lowest figure since 2021 and the second consecutive month showing a slowdown.

Dave Clark, editor-in-chief of Ticket News, which tracks the live entertainment industry, said the period of explosive growth in live music after pandemic reopenings can, in hindsight, be seen as an aberration: People were simply more willing — and more financially capable — to go to as many shows as they could after months cooped up inside.

This year, Clark said, a reckoning may be emerging.

“The days when there was enough demand to sell out arenas at full price simply don’t exist in this live event economy – outside of people like Taylor Swift who can sell whatever they want wherever they want want,” he said.

At a time when many consumers are struggling to afford basic necessities, he said, “people see some of the prices they’re asking and just say, ‘Hard pass.’

Another factor could be a supply problem, Clark added: too many artists trying to tour at the same time, or too many times. In the era of streaming, bands went on tour to market an album. Nowadays, he says, it’s the opposite, as revenues from recorded music have declined significantly.

“Now they make records to sell the tour,” he said. “This paradigm has a lot to do with it. It’s just a very crowded market.

The Black Keys just released a new album and their first single reached #1 on Billboard’s Alternative Airplay chart in March.

Nonetheless, the rock duo announced they would cancel and reschedule their summer tour plans, moving from arenas to other venues offering a “more intimate experience,” according to the band. The new dates have not yet been announced.

The Black Keys aren’t the only band to suffer from costly concert fatigue.

Pop-rock band 311 announced that they have canceled their upcoming European tour dates due to the “increasing costs of touring overseas”, making it “unfeasible” to complete parts of the tour.

Other stars, including Pink and Justin Timberlake, have also recently canceled specific show dates, while the Jonas Brothers recently postponed their upcoming European tour, although neither has officially cited financial issues as the reason for the decision. .

“I think with all this competition for fan dollars, it was obviously natural that some artists would lose,” said Bill Werde, director of Syracuse University’s Bandier Program for the Recording and Music Industries. entertainment.

Many large-scale tours are still planned this summer and, so far, appear unaffected by the drop in demand. Hootie & the Blowfish have 48 dates booked this year, while Dave Matthews Band plans 34. Other big bands on the road include Maroon 5, Zac Brown Band, Red Hot Chili Peppers, Kenny Chesney and Chris Stapleton.

But experts say recent economic trends in the live music industry, particularly the kind of consolidation the Justice Department is now targeting, have resulted in fewer smaller venues.

This makes it more difficult for a given tour date to make financial sense for the artist, venue and promoter.

“Some shows can’t afford to lower prices; they can’t afford to wait to try to sell the rest of the building,” Clark said.

If there is uncertainty about whether all stakeholders can at least break even, he said, the show could be canceled.

Such realities confront a more circumspect spectator. Brittney D’Mello, a 23-year-old K-pop fan from New Jersey who works in corporate marketing, posted on X about her frustrations with the current touring landscape.

“The tickets are too expensive,” D’Mello said. “There are only a SMALL number of people (10%) who will spend more than $500 on VIP/floor/premium,” she said. “The rest of us are on a budget and aren’t going to spend $100 on nosebleeds,” she said, referring to the seats that are typically furthest from the stage.

“Everyone is going on tour this year…and we only have money for 2-3 shows MAX,” she added.

In a follow-up interview with NBC News, D’Mello said she simply decided to cap the budget for her concerts.

“I will only go see two artists who are my favorite artists,” she said. “But I won’t go to concerts casually anymore. And after going to concerts twice, I think that’s where I stop.