Only a few things in life are better than attending a live concert. The chest-pounding music, energy from the crowd, and the incredible lighting and stage effects are just a few reasons live performances are truly unforgettable. Perhaps this explains why we are willing to spend so much money on a ticket.
Many people believe that artists make most of their money from album sales or streaming services such as Spotify, however, this isn’t necessarily the case. Artists make most of their income from live performances, merchandise sales, and touring.
This makes sense considering that nowadays, the admission price to attend a show costs a pretty penny. Historically, attending a concert cost roughly the same as a nice dinner with wine. Today, attending a concert could cost as much as going on a road trip. According to Pollstar, from 2015 to 2019 the average ticket cost for the top 100 concerts rose by 28% to $94.83. With rising ticket costs, we could see many fans removing these purchases from their budgets.
Despite a global pandemic and rising ticket costs, fans are still purchasing tickets for shows in high quantities. Elton John’s swansong tour, Farewell Yellow Brick Road, was the top-grossing tour of 2020, selling 47 shows and 800,000+ tickets while achieving $100 million in sales. In total, his tour made $360 million.
If this figure sounds like a lot, you’d be surprised to learn just how much the Top 10 Highest Grossing Concert Tours of All Time have raked in. Any guesses? Here’s the list.