Metro Boomin and Future perform onstage during the 2023 MTV Video Music Awards at Prudential Center on September 12, 2023 in Newark, New Jersey.
Music journalists Jem Aswad and Maura Johnston explain the challenges that even some of the most popular acts are facing in the current economic climate. In recent weeks, big-name acts like The Black Keys, Jennifer Lopez, and Bad Bunny have either cancelled shows or reorganized their tours due to low ticket sales.
Are these merely isolated setbacks, or do they point to a more troubling future for the concert industry in the streaming age?join host Elamin Abdelmahmoud to explain the challenges that even some of the most popular acts are facing in the current economic climate.: Maura, I always have this temptation in my mind to connect high streaming numbers with a high number of tickets sold.
: Something I would say to that is, something that has really changed in the age of streaming: those of us who are old enough to remember buying CDs and buying records, that was an investment. You are investing in this artist. You believe in this artist; you're putting your money down. You're maybe walking home with the album under your arm so everybody can see it. That's something that you see in a different way now.
So, if there's a one-hit wonder with a big streaming hit, that is not the same level of investment of an artist that you grew up with, or an artist that you followed for three or four albums. Even if you're not paying attention to the new ones, like the Stones' tour is doing great and nobody has cared about a Rolling Stones album for 40 years. So it's really that there are different levels of investment here.
I feel like the demise of mass media, of this place where you can go to find out what's going on, without having to sign up for a fan club or a mailing list, is really kind of killing the way in which people who aren't as plugged in get information…. I feel like there's this disintegration of these promotional outlets and the way in which everybody consumes media now, which is very single-serving.
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