Can superstars still bank on fans splurging for concerts like Taylor Swift and Beyoncé did last year?

Taylor Swift and Beyoncé had successful concert tours in 2023, with Americans spending on live music. Although there has been a slight slowdown in ticket sales for some festivals, economists expect the US economy to remain solid in 2024. This means fans will likely have the disposable income to continue attending concerts, as job growth and wage increases persist. Demand for concerts remains robust, as people prioritize experiences after the pandemic. Consumers are becoming more price-sensitive, but the economy is still strong, and there is no recession in sight. The US’s wealth and higher standards of living contribute to the ability to spend on experiences. The pandemic has also caused a shift in preferences, with people prioritizing experiences earlier in life.