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this post was submitted on 04 Aug 2023
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Yep, that’s one expensive concert ticket. Feels like I’m just getting old and making “back in my day” observations, but I think there’s also something wrong happening here beyond normal inflation.
When you buy something through the internet, you can bet there are lots of mediators taking cuts between producer/consumer, even when buying it through official means. Add in credit cards inflating prices through interests, then add in FOMO marketing to increase prices, then add in scalpers reselling already inflated ticket prices, and tons of other ways that we don't even know that are happening. Abstractions over abstractions over abstractions, modern day innovation is finding a way to put yourself between producer/consumer to extract value without doing any material work. "Survival of the richest by Rushkoff" has some interesting insights on the contemporary tech industry.
More info about the price
Lol what? This is straight up misinformation, who posted that, the concert promoters?!
In the old days, bands didn’t make shit from record sales, only from touring.
Now it’s more common for artists to have rights and resources to sell their own merch including albums, so they get much more from record sales on average.
Oftentimes, the expenses for putting on a modern show, complete with the massive crews needed to pull it off, ends up operating at a loss. I could see this being justification for an increase, but not one of this magnitude.
Whole thing reeks of corporatism and greed. So I guess that part hasn’t changed too much.
It literally says they’re looking at resale price for Taylor swifts concert. How is looking at scalper prices in any way relevant
They took the actual price and then mentioned what the resale price was, reason why they mentioned that the resale price was $16 hundred the $900 they put in the graph