Today, Explained – “A concert? In this economy?”

Date: February 20, 2026
Host: Estad Herndon (Vox)
Guests: Taylor Mims (Billboard Senior Editor), Robert Levine (Billboard Columnist)

Episode Overview

This episode delves into the skyrocketing prices of live concert tickets in the post-pandemic era, unpacks the roles of ticket platforms, artists, and resellers in driving up costs, and explores shifting trends in how and where big artists perform. Through interviews with industry insiders Taylor Mims and Robert Levine, the episode sheds light on why tickets are more expensive than ever, how the concert experience is changing, and whether there’s any hope for frustrated fans.

Key Discussion Points & Insights

1. The Rising Cost of Concert Tickets

• Shocking Prices Now the Norm:

  • Floor seats for major artists (Beyoncé, Harry Styles) now routinely run into the $1,000+ range, with some tickets for premium events fetching much more.
  • “$1,000 is a lot of money for a ticket. … It's fairly typical for these big tours at this point.” – Taylor Mims (03:09)

• Post-COVID Demand Boom:

  • After pandemic shutdowns, demand for live music surged, yet supply is still limited, boosting prices even more.
  • “It really became the normal, I would say, following the COVID‑19 pandemic. Concerts were so in demand.” – Taylor Mims (03:24)

2. The Struggle to Get Tickets: Queues, Codes, and FOMO

• The Presale Gauntlet:

  • Fans scramble for presale codes, then often face impossibly long online queues.
  • “You hit the queue, you're going to see a number that you do not want to see.” – Taylor Mims (04:02)
  • Real queue numbers can hit into the hundreds of thousands (04:22).

• Limited Supply, Insatiable Demand:

  • “The demand is really high and the supply is limited.” – Taylor Mims (04:39)

3. Ticket Resellers and Dynamic Pricing

• Rise of the Secondary Market:

  • Scalpers use bots and aggressive tactics to buy up tickets and resell at big markups.
  • “Ticket resellers get in there, buy those tickets at a low price, and then mark it up … for the secondary market.” – Taylor Mims (05:04)

• Who Sets Prices?

  • The base price is a negotiation between artist, agent, and promoter, but Ticketmaster’s dynamic pricing and secondary resale markets inflate final prices.

• Artists Versus Resellers:

  • Some artists are raising their own prices to capture resale profits for themselves, since fans are shown to be willing to pay either way.
  • “If you raise that ticket price to 500, it’s a lot less profitable for the ticket reseller. … That fan was going to pay that price anyway, if not more.” – Taylor Mims (07:32)

4. Pushback and Regulation Attempts

• Artist Activism:

  • Some, like Olivia Dean, publicly call for caps on resale prices.
  • Ticketmaster agreed to cap resale prices for one of Dean’s tours and refund excessive markups (08:23).

• Legislative Responses:

  • States like California (Fans First Act) and Maine have begun enacting ticket resale caps, allowing tickets to be resold only for up to 10% above face value (10:21).
  • “When somebody buys a face value ticket… they can resell that ticket for no more than 10% above face value. … That makes it so much less lucrative to be [a reseller].” – Taylor Mims (10:21)

• Still an Uphill Battle:

  • While the movement for change is growing, only a few states have enacted actual reforms (11:05).

5. Residencies & Touring Trends

• Why the Shift to Residencies and Fewer Venues?

  • “The most expensive part is getting it all around. So imagine if you could minimize that expense and make the same amount of money.” – Robert Levine (18:08)

• Major Artists, Major Cities:

  • Instead of extensive tours, stars like Harry Styles are doing lengthy “residencies” in single venues (e.g., 30 nights at Madison Square Garden) to cut travel costs and accommodate more fans (18:44).

• Changing the Concert Experience:

  • These central “event” performances allow for expensive, unique productions (e.g., Adele’s custom arena in Munich), enhanced fan experiences, and build a sense of exclusivity and FOMO (21:37, 24:04).
  • “You really have to create a sense of event. … In the modern concert business, you have to say it's not so much why do you want to see them, but why now and not next year or the year after?” – Robert Levine (24:11)

6. Is There a Breaking Point for Fans?

• Will Demand Last Forever?

  • Despite economic headwinds and outrage over prices, fan demand remains insatiable.
  • “Concerts are not a competitive good. Like, who's your second if you can't go see Harry Styles, who's the artist most like Harry Styles, who's also playing a concert? … The answer is nobody.” – Robert Levine (25:16)

• Possible Shifts on the Horizon:

  • If more states pass resale caps or demand finally slows, the landscape could shift — but experts are wary of predictions given persistent demand (26:46).

Notable Quotes & Memorable Moments

• On the Emotional Cost:
  “You know, Taylor, you’re kind of bumming me out because it sounds like there's really nothing we can do and that this kind of high ticket price extortion is just here to stay.”
  – Estad Herndon (09:14)

• On the Economics of Touring:
  “The most expensive part is getting it all around. So imagine if you could minimize that expense and make the same amount of money.”
  – Robert Levine (18:08)

• On Why Big Artists Command Irreplaceable Demand:
  “Concerts are not a competitive good. Like, who's your second if you can't go see Harry Styles, who's the artist most like Harry Styles, who's also playing a concert? … The answer is nobody.”
  – Robert Levine (25:16)

• On Regret and FOMO:
  “You really have to create a sense of event. … Why now and not next year or the year after?”
  – Robert Levine (24:11)

• On Possible Change:
  “If we're not there yet, we're getting very close because I think people are really tired of it because it's not slowing down, it's only getting worse. … If we see more states able to pass [resale caps], I think that should tell you the tide is turning.”
  – Taylor Mims (11:20)

Timestamps for Important Segments

• 02:20 — Taylor Mims introduces herself and sets the context for today’s ticket-buying chaos.
• 03:09 – 04:39 — The challenging and often demoralizing process of buying concert tickets.
• 05:04 – 05:37 — How resellers dominate, and why secondary pricing is so high.
• 07:32 – 08:01 — Why artists are raising their own base prices.
• 10:03 – 11:05 — New legislation and the hope for ticket resale caps.
• 18:08 – 20:22 — Robert Levine explains the economics behind artist residencies and their lifestyle appeal.
• 21:37 – 24:11 — The “event” of a big show: Custom stages, special experiences, and FOMO.
• 24:26 – 26:46 — The resilience of fan demand and the limits of prediction in the live music industry.

Conclusion

The episode paints a picture of a live music economy in transition—one where tickets are becoming luxury goods, high prices are normalized, and artists, fans, and industry players navigate a market with few easy answers. Legislative action on reselling and outspoken artists could push the industry toward fairer practices, but for now, “concert sticker shock” is likely here to stay, as fans continue to pay up for the once-in-a-lifetime experience of seeing their favorite artists live.