When Live Concert Prices will Skyrocket?

About 35 years ago, awhile back before the internet and mobile phones, let alone artificial intelligence were mainstream, there was a young kid attending a live concert, actually attended 2 live concerts at a place called Fadura, back in Algorta (Spain). 

The bands were “Joaquin Sabina” and “Duncan Dhu”, and although they were not his top favorites, today the songs, the memories, the emotion, the people singing, and dancing, and the best, attending with friends, are still alive, and yes, that kids was me.

Now fast forward to 2024 and imagine this: you’re at a concert, the lights dim, the crowd roars, and the musician walks on stage. The atmosphere is electric, and you can feel the energy of the live performance. Now, picture a world where AI-generated music and virtual performances are the norm. How would this change your experience? And more importantly, would it drive up the prices of live concerts by real musicians?

Let’s dive into how Generative AI is transforming the music industry and why the cost of experiencing live music might just shoot through the roof.

AI in Music Creation and Production

Generative AI is already revolutionizing how music is created. AI can compose original tracks in various styles, speeding up the creative process for musicians and producers. As mentioned in my previous article, platforms like Udio.com or Suno.com aim at allowing anyone to generate music with just a few clicks. With AI, you can create personalized music tailored to your tastes, which sounds pretty cool, right?

But here’s the kicker: as AI-generated music floods the market, the unique value of music created and performed by humans is likely to increase. Think of it this way—if everyone has access to AI-composed music, the rarity and authenticity of human-created music become more precious.

The Rise of Virtual and Holographic Concerts

Virtual concerts are becoming increasingly popular. Artists like Travis Scott and Ariana Grande have held massive virtual concerts within the video game Fortnite, attracting millions of viewers. These events are immersive and interactive, offering experiences that traditional concerts can’t match.

Holographic performances are another game-changer. Remember Abba? There is the ABBA Voyage (AKA ABBATAR) which is a hologram show (tickets at 70 pounds) which, via technology, is making it possible for holograms of artists to perform live shows in multiple locations simultaneously.

So, with all these virtual options, why would people still pay a premium for live concerts? The answer is simple and it lies in the irreplaceable human connection and authenticity that only real musicians can provide.

The Demand for Authentic Experiences

As AI and virtual concerts become more common, the demand for authentic live experiences will become more “exclusive”, “personal”, and more intense and likely skyrocket its price. Fans crave the emotional connection and spontaneity that comes with a live performance. There’s something magical about seeing your favorite artist perform live—it’s an experience that AI can’t replicate. It feels as if Music AI will be “Fast Music” and the live concerts are the artesanal work, the art masters will perform it – their own craft, the technique, the thought, the emotions that the songs captures when being built by the artist.

Take Billie Eilish’s “Where Do We Go?” tour, for example. Fans paid top dollar not just to hear her music, but to be part of a shared, live experience filled with raw emotion and energy. The scarcity of these authentic experiences in a world filled with AI-generated content could drive up their value and price.

Enhanced Concert Experiences

However, imagine now attending a concert where AI-enhanced visuals, holograms, and interactive elements create an unforgettable show. This is not far from reality. Musicians are already incorporating advanced technologies into their performances to elevate the concert experience. So in a way, we could argue that the “show” creates a whole new experience, similar to the ABBA Voyage.

Or for instance, the electronic music duo The Chemical Brothers use AI-generated visuals and interactive light shows to create a sensory overload during their live performances. Such high-production-value shows justify higher ticket prices and attract fans looking for a unique experience.

The Economics of Live Concerts

With the integration of advanced technologies, production costs for live concerts are on the rise. Artists and organizers need to invest in sophisticated equipment and special effects, which translates to higher ticket prices for fans. Moreover, exclusive and intimate concert experiences are becoming more popular, where fans pay a premium for closer interactions with musicians.

Remember Beyoncé’s private concert for Uber executives? While this is an extreme example, it illustrates the trend towards high-priced, exclusive live performances. So as we can see, things get a bit more convoluted.

The Future of Live Concerts

So, will live concert prices skyrocket? The real question is, when will this happen? As AI-generated music and virtual performances become mainstream, the scarcity and authenticity of live performances by real musicians will make them more valuable. “Real” Fans will be willing to pay a premium for these unique experiences, driving up the cost of attending live concerts.

In a world increasingly dominated by digital and AI experiences, the genuine, human connection of live music will be more cherished—and more expensive.

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Copyright & Credits:

Direction:
– Jose Larrucea

Brainstorming & Research:
– Angie Giules (GPT Content Creator),
– Jose Larrucea

Editing & Imaging:
– Angie Giules

References

OpenAI Jukedeck: 
https://openai.com/index/jukebox/

Google Magenta: 
https://magenta.tensorflow.org/

Travis Scott’s Virtual Concert in Fortnite:
https://www.theverge.com/2020/4/24/21233660/fortnite-travis-scott-concert-record-astronomical-how-to-watch Ariana

Grande’s Rift Tour in Fortnite:
https://www.polygon.com/fortnite/22600414/ariana-grande-fortnite-concert-rift-tour Tupac

Hologram at Coachella:
https://www.rollingstone.com/music/music-news/tupac-shakur-hologram-performs-at-coachella-246900/

Billie Eilish “Where Do We Go?” Tour:
https://www.billieeilish.com/

The Chemical Brothers’ Live Shows:
https://www.thechemicalbrothers.com/

Beyoncé’s Private Concert for Uber:
https://www.refinery29.com/en-gb/2019/05/232780/beyonce-uber-stock-investment-worth