Live Music and Concert Tours

Why live concerts have become the main source of income for many musicians, how ticket prices are set, and the economic impact of major tours.

When music streaming reduced income from recorded music sales, live performances became the most important source of income for many musicians. Major concert tours now generate enormous revenues.

Record-breaking tours

Taylor Swift’s Eras Tour, which ran from 2023 to 2024, became the highest-grossing concert tour of all time, reported to have earned over 2 billion dollars in ticket sales. Other artists have also set records. In India, tours by international artists like Coldplay, whose concerts in Mumbai and Ahmedabad in January 2025 drew huge crowds, highlighted the growing market for large concerts.

Why live music is valuable

Scarcity: a concert is a unique experience in a specific place and time, unlike recorded music, which can be copied endlessly.
Merchandise sales at concerts add revenue.
Streaming helps fans discover artists, increasing demand for concerts.

Ticket pricing

Setting ticket prices is tricky. Many artists price tickets below what the most eager fans would pay, to keep goodwill. This leads to:

Sell-outs in minutes.
Resale markets, where tickets are sold at much higher prices by touts or resale platforms.
Dynamic pricing, used by some ticket sellers, which raises prices when demand is high, sometimes causing fan anger.

Economist Alan Krueger studied concert economics and argued that performers often underprice tickets partly out of concern for fairness and their reputation with fans.

Economic impact

Big tours can boost local economies through spending on hotels, restaurants, transport and shopping. Analysts coined the term “Swiftonomics” to describe spending linked to the Eras Tour in host cities. India’s government has also promoted concert tourism as an economic opportunity.

The ticket that resold for ten times

A concert ticket is sold officially for 5,000 rupees, and tickets sell out within minutes. Soon, some appear on resale sites for 50,000 rupees. The difference shows that fans valued the tickets far above their official price. The artist chose a lower price for fairness and goodwill, but resellers captured much of the extra value.

Accessibility

Concert organisers increasingly provide accessible seating, companion tickets, audio description and support for disabled fans. Accessible ticket booking websites are essential for blind fans.

Thinking artists earn most from streaming

For most musicians, streaming pays relatively little per play. Live concerts, merchandise and related income are often far more important to their earnings.

Key takeaways

Live concerts became the main income source for many musicians as recorded music revenue fell.
The Eras Tour became the highest-grossing tour ever, earning over 2 billion dollars.
Underpriced tickets create sell-outs and resale markets; dynamic pricing is controversial.
Big tours boost local economies through tourism and spending.