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Why are the prices for concert tickets skyrocketing?

Increased demand, not inflation, is being blamed for price increases.

HOUSTON — Why has the price to see your favorite band skyrocketed?

The price of a lot of things has gone up from food to cars, but according to the Wall Street Journal, the steep rise in concert ticket prices is thanks to consumer demand.

After two years of lockdowns and quarantines, Americans want to get back to normal. And that means crowding into arenas or clubs to see live music.

Live Nation says that ticket sales are up 45 percent through mid-February compared to 2019.

This comes as the industry tries to combat ticket resales. When a ticket is resold for a higher price on a site like Stubhub, the artist and production company don't see any of that extra money.

What artists have been doing is charging more closely to what the market will bear to make up for the increased costs of touring for things like gas and personnel.

But it is not all bad news for music lovers.

The price of tickets for the cheap seats has remained steady at pre-pandemic prices. And artists are trying to give concertgoers more bang for their buck, ramping up elaborate production elements like giant video screens and pyrotechnics.

No matter what you pay, you will want to check out the refund policy. Some performers have had to cancel shows as COVID cases pop up.

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