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Though hot acts such as Lady Gaga and Justin Bieber are having no trouble filling venues, several high-profile tours — including the Jonas Brothers, Lilith Fair and American Idols Live — have canceled, postponed or reshuffled dates in recent weeks as budget-conscious concertgoers think twice before spending their money.
Pollstar editor Gary Bongiovanni says preliminary numbers from the concert trade publication’s midyear report on the 100 top touring acts show a 20% drop in gross revenue and total ticket sales from Jan. 1 through June 30 compared with the same period in 2009. Meanwhile, average ticket prices are now below $60, compared with $64.61 last year. Final numbers are expected later this week.
“There’s still a strong appetite for live music if you have the right attraction,” Bongiovanni says. “It’s wrong to say the sky is falling and business is horrible, but I don’t think we are seeing anything that we shouldn’t have expected.”
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