Economics of a Concert post #2

The economic principle I’m exploring is “How do Producers incentivize consumers ”

My research question to help me study the economic principle is What are the economics of a Music Concert and how do consumers respond to incentives by the music industry/ how are they incentivized.

https://www.theguardian.com/music/2017/jan/30/where-does-concert-ticket-money-go

This article written by the Guardian breaks down the logistics of a concert. This article indepthly describes where the money is allocated to go. Millions are generated from these big-ticket Arena shows from artists like U2 to Adele. From security to the sound technician, every single person is getting a cut. Tickets are strategically priced so everyone can get paid and the owner, promoter, an artist can make a hefty profit. This article helps explore these topics in the complex financials of the industry.

In my next blog post, I will research:  More in-depth how the consumer is incentivized.