Get old, Pay more

The Economic principal What are the economics of a Music Concert and how do consumers respond to incentives by the music industry/ how are they incentivized.

 Sub Research Questions: How do artists price discriminate.

This Article Pop artist can earn more by pricing tickets smartly helps show how artists are able to successfully discriminate. Artists can earn about 25% of their income by using price discrimination. In today's online world of streaming and downloading music, there is not as much revenue to be made from music sales. So there is a bigger emphasis to maximize sales from the concerts. Older artists are even more able to price discriminate because they know their audience is more diverse and older with a more disposable income than when they were first starting and had a young following. These artists can also discriminate in bigger arenas where there are more seating options available and are able to charge that higher premium for better seats and "VIP" packages.

In my next blog post, I will research what consumers are looking for when buying a concert ticket.