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Audiences Lose Interest, Manufacturers Lose Money Turns out the stock market's not the only thing slumping this year. The NY Times reported recently that although prices continue to climb, both the number of concert tickets sold and the revenue they represent are down this year. Pollstar's Top 50 tours sold 15.5% fewer seats and took in 12.6% less money in the first half of '01 than in '00.
The movie industry is having a flat season as film after expensive and heavily marketed film opens strong, then tanks. "Planet of the Apes" took in $69.5 million between Friday and Sunday, the biggest nonholiday three-day opening in history, then dropped 60% the next weekend. "A.I" and "Jurassic Park III" also did about half as much business their second weekends Meanwhile, although Madonna's still selling $125 tickets, 'N Sync could only sell out Washington, D.C.'s RFK Stadium once (they sold out two nights last summer), and the Stones have indefinitely postponed Mick and Keith's "last blowout" before they turn 60. Even attendance at Walt Disney parks was down by 6 to 8 percent Quality, apparently, is still good for business (Well Doh!, to quote noted economic guru Homer Simpson.) "The Producers" and "The Lion King" are sold out on Broadway. Summer culture fests like Ravinia, Tanglewood and Jacob's Pillow are doing well. Traditional summer bargain Major League Baseball (which has recently upped its quality with new purpose-built parks in many markets) is also doing well. So what are people doing instead of buying concert or movie tickets? |
