It was an epic year for live entertainment. And from concerts to the box office to sporting events, women dominated the events economy in 2023, according to StubHub’s year end report.
Nowhere was that more evident than in the live music space. Superstars Taylor Swift, Beyoncé, Pink, and Adele accounted for 73% of overall sales for the top 10 global touring artists on the platform this year, per the report, which takes into account cumulative global sales on the platform. Just those four women alone more than tripled the sales of the top ten highest-selling artists of 2022. Male artists, including Coldplay and Ed Sheeran, comprised the rest of the top 10.
Swift led the way, with the biggest tour in StubHub history. And with her residency in Las Vegas, Adele generated the highest-average ticket price on the platform.
Live events, in turn, fueled the larger economy this year, dubbed "funflation" by Bank of America. In addition to the events covered by StubHub's report, box office smash Barbie grossed over $1 billion at the global box office, becoming an inescapable part of pop culture in the process (Swift's Eras Tour movie and Beyoncé's Renaissance Tour film are also breaking records).
Despite inflation, high interest rates, and other challenges, consumers have remained willing to shell out on experiences. "Live entertainment is currently the brightest star in the broader media and entertainment universe," BofA analyst Jessica Reif Ehrlich wrote in a note to clients in September.
Though StubHub is a ticket reselling platform, the report reflects what primary sellers have reported this year. LiveNation CEO Michael Rapino recently announced the third quarter of 2023 was the company's "strongest quarter ever."
Though some analysts see economic headwinds potentially picking up next year, which could in turn dampen demand, StubHub spokesperson Adam Budelli says the company is bullish on what 2024 holds in store for the live events space. Swift and Coldplay are expected to remain on the most in-demand list next year, joined by newcomers like Olivia Rodrigo and Bad Bunny.
"Some of the names at the top of the list may change, but the excitement isn't slowing down," says Budelli. "People want to go."
It's Taylor's world
Though many women generated impressive sales this year, there was no beating Taylor Swift. The pop singer's tour is on track to surpass $1 billion in ticket sales, becoming the highest-grossing of all time. Readers have likely heard about its economies-shifting power; it helped propel Swift to billionairedom, according to Bloomberg.
But when it comes to economic impact, it didn't matter whether she was performing or not. There was a 175% average daily growth in sales and number of tickets sold for Kansas City Chiefs games after she attended the first home game of new beau Travis Kelce, one of the team's star players. (Kelce himself was part of Super Bowl LVII, the second-most in-demand global sporting event of the year.)
When she was the one performing, her two Eras Tour shows in the city outsold the Chiefs’ entire season, save a Jan. 7, 2024, matchup against the Chargers. She comprises nearly 70% of total sales for Kansas City’s top five events this year.
Her Eras Tour was also the top-generating event in every market she performed in. And with the tour continuing into 2024, StubHub expects the singer to continue her dominance. In fact, the tour is one of the reasons the U.S. is the country spending the most on international events, and U.S. buyers purchased more than half of tickets on the platform for her shows abroad in 2024.
Women's sports on the come up
Male sporting events, including the World Series, Formula One, and Lionel Messi's takeover of the MLS, accounted for most of the sports ticket sales on StubHub this past year. But women's sports are on the come-up, Budelli says.
He credits that to the exciting talent and competitiveness in the NCAA, WNBA, and NWSL. Sales for the latter doubled this year compared to last, while sales for the WNBA—led by the New York Liberty—more than doubled.
And tennis phenom Coco Gauff is credited with the surge in the average ticket price for the women's U.S. Open. Overall sales for this year’s finals were up 30% year over year. When Gauff was announced as a finalist, sales spiked 20% overnight.
In the NCAA, demand for the women's Final Four was higher than the men's for the first time ever, and the average ticket price was 15% higher.
Budelli expects the interest to keep increasing, as women's leagues add more teams and audiences grow. "It’s hard to predict, but we don't anticipate that that will slow anytime soon," he says.
