Are you enjoying your post Covid "let's party" phase or has life taken on a more natural pace? A recent headline on Fortune.com read: The ‘funflation’ economy is dying as a consumer attitude of ‘hard pass’ takes over and major artists cancel concert tours.
Seamus Webster wrote, "For the past few years, live music has enjoyed an explosive post-pandemic revival, as "revenge spending" fans itching to get back into concert venues post-pandemic paid top dollar for massive stadium tours such as Taylor Swift’s Eras Tour and Beyoncé’s Renaissance Tour.
But a recent spate of tour cancellations and changes by well-known artists indicate that consumers’ appetite for live music may be slowing.
On Friday, Live Nation announced that Jennifer Lopez was canceling her “This Is Me…Live” tour to spend more time with her family, a week after the Black Keys said they were scrapping an arena tour scheduled for this fall in favor of smaller venues...
The announcements are the most recent signs that at least one facet of the “funflation” or economy that emerged in the wake of the COVID-19 pandemic—when consumers eager to make up for lost experiences boosted demand for things like flights and concert tickets—isn’t as strong as it was last year."
The article went on to quote some experts in the field who say the novelty of going to a live show after having been cooped up for two years is wearing off, ticket prices are high and there are so many concerts to choose from!
Is the party over or are we just really getting back to normal now?
