Rachel Wolfe

speaker

900 appearances 20 recordings 1 series first heard Mar 2022 last heard May 2024

Rachel Wolfe’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Music Fans Are Spending Big on Concert Tickets – And Nothing Else · 26 Apr 2023 podcast

They're just going without elsewhere. matched

So there are a few different things going on. matched

Experts point to unprecedented levels of demand driving up the base price, but also the fact that there are now a lot of added fees and other costs associated with tickets that weren't there before. matched

Some people I spoke to are getting second jobs just to afford a concert ticket. matched

But really, I was speaking to consumers who are scrimping elsewhere in order to splurge to see their favorite artists because those who aren't able to get tickets during an initial drop are forced to rely on resale and those tickets are shooting up as well. matched

So the people that I spoke to said that after not being able to go to concerts during the pandemic and just with everything now being so expensive, they want to decide how they're splurging. matched

So they think that it's a valuable experience. matched

Groceries are going to be so expensive and going to the movies is going to be so expensive. matched

They aren't surprised that going to see a concert is now so expensive, but they would rather go see a concert than go out to eat. matched

Exactly. matched

So a bunch of the people I spoke to are really cutting back elsewhere in order to afford to go. matched

These aren't people who are necessarily going into debt to go see Taylor Swift. matched

They're just prioritizing that splurge over basically anything else for the month, especially people who don't have kids and who can sort of afford to pay it. matched

They're just going without elsewhere. matched

And as I mentioned, one person I spoke to has actually been door dashing and matched

doing other sorts of food deliveries just to afford her BTS habit. matched

So the price of merchandise, we're talking t-shirts, koozies, magnets, have all gone up. matched

And the music managers I spoke to told me that it's because the cost for performers have gone up as well. matched

So their hotels, their travel, hiring personnel has gotten a lot more expensive. matched

And then the actual costs to produce the merchandise have gone up. matched

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