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Higher prices help 2011 concert ticket revenue

Higher prices help 2011 concert ticket revenue

January 6th, 2012 in News

LOS ANGELES (AP) - Higher concert ticket prices boosted revenue from the top 50 worldwide tours last year despite a drop in the number of tickets sold.

Trade magazine Pollstar said Thursday that worldwide revenue for the 50 biggest acts last year hit $3.07 billion, up nearly 4 percent from $2.96 billion in 2010. U2 was the top act.

The average ticket price rose $10.42, or nearly 14 percent, to $86.53. The average price was $76.11 in 2010 and $73.83 in 2009.

The number of tickets sold fell 9 percent to 35.5 million.

Live Nation Entertainment Inc. continued to be the world's biggest concert promoter, selling 22 million tickets, down from 25.1 million a year ago. AEG was second with 12.2 million tickets, down from 12.5 million a year ago.