From revenue to reality: exploring the live industry economics of 2023

Inflation and the costs to produce shows and tours are a big issue at the moment. Data shows ticket prices and average gross have increased compared to previous year. However, what is the impact of the increased costs on the overall profit? What solutions have promoters and venues adopted to cope with inflation and maintain the profitability of tours? Additionally, there has been an increase in general living costs for consumers. Fans attend fewer shows per year, but are willing to spend more on a single experience. How does the live industry foresee this trend evolving?