Pollstar reports concert tour revenue down

July 8, 2010 7:33:41 PM PDT
The recession has finally caught up with the lucrative concert touring industry.

The industry trade magazine and website Pollstar says gross revenue for the top 100 tours in North America in the first six months of 2010 is down nearly $200 million from last year.

That's a 17 percent drop in an industry that seemed impervious to the weakening economy just a few years ago. The total haul of $965.5 million was the lowest for the first half of the year since 2005 when gross revenue was $730.9 million.

Ticket sales also were off. The top 100 acts sold an average of 6,951 tickets per show, down about 9 percent from 7,639 during the same period in 2009.

Declining ticket sales have been evident in the number of cancellations this year for usually bankable stars.