U2, Roger Waters Lead Concert Industry to 11% Increase in 2011
We already learned this week that albums sales in 2011 have increased, which is the first increase since 2004. Now the music industry has just received more good news. For the first six months of this year concert revenue has increased 11 percent.
Pollstar reported the good news. The company’s figure was arrived at by examining the earnings from the top 50 highest grossing worldwide tours, which earned a total of $1.65 billion. North America’s music industry was particularly strong, with a 16.2 increase in earnings.
Overall ticket sales, however, showed a 2.1 decrease, down to 16.4 million. What this means is fewer tickets were purchased but more was paid. The cost of the average ticket price saw a 13.6 increase to $10.23.
Gary Bongiovanni, Pollstar editor, hypothesized that perhaps the figures could be explained from better artist packaging or artists performing in smaller venues with higher prices, which tend to increase the costs of the show but offer better value for fans when it comes to their money spent on tickets.
So who were the artists driving the increased revenues? The leader was U2, unsurprisingly, with revenues of $164. The band was followed by $97.9 million from Roger Waters, $921 million from Bon Jovi, $65.3 million from Lady Gaga and $62.2 million from Usher.
Later this month the gigantic “360 Tour” of U2′s is coming to end. Hopefully the music industry will be able to remain strong once it current biggest earner is no longer on the road.