Once a rite of passage and revenue lifeline for musicians, touring is becoming more of a financial coin flip than a guaranteed payday.
Driving the news: From indie bands to big acts, artists are pausing plans to hit the road. A recent industry report shows a steady drop in tours for the top 1,000 mid-level and superstar artists between 2022 and 2024, a trend that has continued into this year.
- Over 80% of indie artists say they can’t afford to tour outside their own city, with over half admitting that they turned down touring opportunities for financial reasons.
- Household names like Jennifer Lopez, The Black Keys, and Lauryn Hill have all cancelled tours this year, while at least 44 music festivals globally have already been axed.
Why it’s happening: Tour costs like gas, gear, and accommodations have all skyrocketed post-COVID. On the venue side, some of the smaller clubs that managed to survive the pandemic are now paying artists less or asking them to play just for exposure.
- Gen Z concert-goers' falling alcohol consumption has also likely been a factor as venues rely heavily on bar sales to pay artists and cover costs.
Why it matters: Fewer tours mean fewer chances to see your favourite artists live and higher ticket prices for the shows that do come to town. Unless the business model changes, only the absolute biggest acts, like Taylor Swift or Drake, may be willing to gamble on a tour.—LA