PowerSurge
New Yorker
Its pretty simple, regardless of a bad economy or good economy...people still have money for this stuff. Fans will find a way to go see their favorite band.
Yes, this will be a monster recession. We have discussed previous recessions during U2 tours, namely Zoo TV w/1992 unemployment of 7.5% and Elevation 2001 unemployment of about 5.8%. Looking just at recessions, however is not giving us the whole picture. During the JT tour in 1987, unemployment was higher and more people were suffering from job losses and declines in income while the economy was growing than they were in the very mild(by historical standards) recession of 2001. JT-Zoo TV saw the savings and loans crisis and bail out, and a collapse in the real estate market. In short, people had every reason to be worried then, and still bought plenty of U2 tickets. 1987 and 2005 were similar in that the economy was pointing up, but let us remember, that the average American was not seeing real income gains nor were they particulalry satisfied w. economic conditions at these times. Just because there was no recession does not mean that the majority of people were doing well during JT and Vertigo. The numbers suggest they were not. This year, the structural economic indicators are much worse and companies have failed and lost money at a rate not seen since the great depression- and this applies to financial, manufacturing and retail equally. In addition, the 1991-92 and 2001 recessions were led by business and consumers merely reacted later(1991) and then barely adjusted their spending at all(2001). This time, the consumer side(mortgages, declining incomes) has triggered the collapse of the financial industry made inevitable by their unregulated, brain dead 'prices will rise forever binge.' Although the unemployment rate is at 6.5% and these conditions have not been reflected in the rate(we are not at 8 or 10% yet), they will be. Unemployment historically does not peak until AFTER recessions. (1975, 1983, 1992, 2003 etc)
A night with U2 costs a whole hell of a lot less than one with the Stones, Police, et al and is not alot of money in the grand scheme of things. The people who need to look out here are those who cater to more frequent entertainment expenses than world tours for popular bands: movie theatres(monthly), restaurants(weekly), coffee shops(daily), catering(corporate events-holidays, summer outings, etc).
Its pretty simple, regardless of a bad economy or good economy...people still have money for this stuff. Fans will find a way to go see their favorite band.
Is it a joke? No, look at the past, U2 will absolutely have no problem doing this, never have.
AC/DC is selling out as we speak. Coldplay sold out this summer w/o anywhere near the fan base of U2.
The more appropriate question would be to those who think U2 wont be able to sell out: Is that a joke? The burden of proof is on you guys, as they have sold out stadiums and arenas for years regardless of economic conditions.
Its pretty simple, regardless of a bad economy or good economy...people still have money for this stuff. Fans will find a way to go see their favorite band.
I agree. It's a question what is important to you. Since I spend money on opera, concerts, theatre, travelling and such - which is all more expensive than a U2 concert which you only have so and so often - I don't see a reason to complain about the ticket prizes. Seriously, of all the people who I know like U2's music and went to one or two of their concerts, not a single one complained about the prizes or said it wasn't worth the money. It's only people who go to 10+ concerts complaining, because for them it's getting expensive. That's not the audience U2 is playing concerts for. The majority is made up of casual music fans or casual U2 fans who only go and see one show, or maybe, in some cases, two shows, not more.
You obviously haven't seen U2's statistical touring history because at the prices they're charging nowadays, U2 can't even "sell out" arenas in MANY midwestern markets, like St. Louis, Kansas City, Columbus, Indianapolis, etc., let alone more than one arena show in Portland, OR or Salt Lake City.
That's because AC/DC & Coldplay's ticket prices are lower than U2's. And it's worth noting, that compared to their last tour in 2000/2001, AC/DC's demand is up by about double in the US and in Canada, it looks to be up by about triple. This is because AC/DC have sold so many god damn albums on this continent in the past seven years, that you actually wouldn't believe the #s if you saw them. Even though the year's not over, AC/DC just surpassed The Beatles as THE top catalogue seller of 2008. That's right, you heard right.
U2 have "sold out" arenas and stadiums for decades, yes...but like I said above, there's plenty of markets where they have trouble doing so.
The difference with 1987 and 1992 despite unemployment then being higher is that the average price of U2 tickets will likely be about $120 dollars in 2009 compared to just $20 dollars in 1987 and $30 dollars in 1992. 1994 saw a huge rise in ticket prices as the concert industry discovered they could charge far more for tickets than they had been doing in the past.
If U2 tickets were only $45 dollars on average next year, I would agree that the economic downturn would probably have no effect. But U2's ticket prices will likely be an average of $120. They were on average $97 dollars on the Vertigo tour in 2005.
Yes, but people still bought them, and obscene ticket prices since 1994 have not stopped the top tier acts from selling out. We have had some bad economic times since then, Elevation recession, Vertigo jobless recovery.
Police tickets on average were $110, while the Rolling Stones charged an average of $130. So U2 is right there with the Police and Rolling Stones in terms of average ticket price.
I know they did Portland and St. Louis at the least on Vertigo, sold out.
They have sold out South Bend in the past(Elevation) so why not Indianapolis?
Columbus and Kansas City, you dont see too many big ticket acts going through those cities anyway
...precisely because you have Cleveland, Denver and St.Louis. If U2 were to schedule shows here, they would be selling them out, again, the economy just does not factor in when we are talking such a small amount of people. 35,000 live in one medium size suburb of Portland or Kansas City alone.
Like someone already said, U2 will not schedule shows in markets where they may have trouble selling out.
I saw AC/DC just last Sunday night in Boston- sat in the lodge in Boston Garden, an arena. I paid $90 for that ticket, $95 for comparable seats at U2, so their ticket prices are not lower.
Not quite sure where you are going w/AC?DC demand, of course it is up, but U2's is always at the same level pretty much. They have enough demand to sell out, mark my words.
St. Louis only "sold out" in 2005 because there was no Kansas City show.
Their prices will be too high next year for that to happen.
Is that a joke? Those two markets get plenty of shows throughout the year.
Without the help of Salt Lake City, only one of two shows would "sell out" in Denver, not both. Cleveland wouldn't "sell out", without the help of other Ohio markets. And St. Louis wouldn't have a hope in hell of "selling out" without Kansas City's help.
And...the amount of people that live in any given market doesn't necessarily make a difference in terms of demand.
Exactly right. But then why did you say U2 wouldn't have any trouble "selling out" anywhere they play?
That's what U2's average price basically was nearly FOUR YEARS AGO. Next year, U2's average price will be around $115-$120.
While U2 are a larger draw than AC/DC (just about everywhere)...on their last North American tour in 2000/2001, AC/DC were averaging around $500,000 per show. But on their current North American tour this year, AC/DC are averaging about $1.2 million per show. And hence their demand has increased by about double, minus inflation. On the other hand, U2 were averaging about $1.7 million on their last North American tour in 2005. But on their next North American tour next year, as long as U2 play basically the same amount of shows as they did in 2005 and they keep the majority of shows in arenas, they'll be averaging around $2-$2.5 million per show, not $3.8 million per show (minus inflation) - which would be double. This will be the case because annually, U2's back catalogue sells less than half of what AC/DC'S back catalogue now does.
Whether U2 "sell out" their shows or not, depends on what the venue capacities and ticket prices are set at, in relation to what the gross, in any given market. But yes, there is enough demand to "sell out" all of their shows next year, IF they pick the markets they play carefully.
Whether other markets helped or not,(nothing wrong w/that) Salt Lake, Denver, Portland all sold out, that was my point. You disputed that they could sell out these cities, I responded that they had indeed sold them out on Vertigo. That was the original discussion, my original point: they sell out wherever they play. That they do not choose to play in certain areas goes w/o saying, that is a sound business decision that any band will make.
I said that not too many big acts come through Columbus or Kansas City- maybe not true, but U2 generally chooses to hit bigger markets like St. Louis or Cleveland understanding that they can do better here. That does not make them unable to sell out or less viable, it makes them smarter business people. They are going where the people will come.
I would like to know how you are so sure U2 will not be able to sell out a city like South Bend w/modestly higher ticket prices.
They have sold out comparable sized cities in the past. Remember Joshua Tree? How about Zoo TV Lakeland?
People are acting like U2 are raising ticket prices by 300 or 400% and that is going to kill demand next tour. $97 to $110 is really not much more than keeping up w/the modest pace of inflation since 2005/06. Even this, plus energy costs are declining, so this recession may be making the cost of a 2009 tour cheaper as we speak.
As for AC/DC, ticket prices being $90 this yr vs $95 for comparable on Vertigo, remember, 2005 was not all that long ago! That $95 goes up a little when we bring it to today's dollars, but not enough to constitute a big difference in ticket prices.
Plus, I have no problem paying $95 or $115 for a lodge seat when I can snap up GA the next night for $45 or $55. U2's pricing is different in this regard, but in my opinion, better. I love the Police, I love AC/DC, but do you think I would consider buying best seats in the house, right down front for upwards of $200? U2's ticket prices are still comparably the best as they are the only super group to keep top prices reasonable while at the same time, offering the best for the least amount of money.
AC/DC demand has doubled, U2's most likely will not. Does not change anything w/ regards to selling out shows.
Possible explanation for doubling of AC/DC demand: Stiff Upper Lip was almost AC/DC's Pop- alot of hardcore fans like my brother were not liking the blues direction, felt they had missed the spot w/ this album, and Brian Johnson's voice was in tough shape for that tour. Black Ice was a much better album, better promoted, Brian in much better shape, etc. Alot of anticipation from 2001 to now. AC/DC leaves the spotlight after tours, U2(or at least Bono and the Edge) stay in the spotlight. Just a difference in styles, I guess. Equally plausible that U2 had released a half assed album in 2001 then not come back for 7 years and seen their demand double. Who knows.
U2 needs to put their tickets on sale NOW if they want to sell them out by next year.
No, they don't. I understand things are bad for alot of people. But, as I've said before, for every person who cannot afford to go to a show on the new tour, there will be someone to take their place.
And you're wrong when you say that. That may be true for large markets on the coasts, but in the midwest there just won't be the demand. In St. Louis, while the Vertigo Tour was technically "sold out," anyone who went to the show saw large gaps of seats in the upper deck. For the Elevation Tour they even blocked off the sections seats behind the stage and they were still a few thousand seats short of a sellout. And those were in relatively good economic times (especially compared to right now).
In St. Louis, while the Vertigo Tour was technically "sold out," anyone who went to the show saw large gaps of seats in the upper deck. .
Do you have any pictures or video that show these "large gaps"?
Looks full in these clips:
YouTube - U2 in St.Louis 05
YouTube - U2 in St. Louis 2005
The official results reported in Billboard Boxscore show the following:
107. St. Louis, Mo. : Dec. 14, 2005 : Savvis Center : GROSS $1,839,020 : ATTENDANCE 19,923 : SHOWS 1 : SELLOUTS 1
Does the Savvis Center really hold more than 19,923 people for a concerts?
As far as playing stadiums in North America, there are at least 20 markets that could definitely handle a stadium show or multiple stadium shows.
capacity for a basketball game there is 22,612, and since lots of people stand on a floor at a concert, that means its more than that
That's true. Some seats are just left empty and don't go on sale at all, for various reasons. I've also been to technically "sold out" stadium concerts here in Europe and there were always empty seats.