Ticket prices for concerts set to rise due to inflation
The rising cost of fuel and insurance and a labour shortage could lead to price hikes.
The Managing Director of MCD Productions has said he believes there will be an increase in ticket prices for concerts next year due to inflation.
Denis Desmond made the comments on Today with Claire Byrne on Friday (20 May), where he said MCD was seeing increases in the costs of putting on a show "across the board".
"You obviously have the fuel increases that everybody's experiencing," he explained.
"But in addition to that, there is a shortage of labour... A lot of people did leave the business during the pandemic, found alternative employment.
"So, as a result of that, there's a shortage of people, so you're having to hire new people, train them up.
"The good thing is, the people who are still in the industry, there's a big demand for their time but there's a shortage of them.
"So, in a lot of instances... we're flying in labour from Germany, Budapest, places like that.
"And the increased cost is the extra time involved in their flights, the hotels and obviously, when there's a big demand, people charge a premium rate."
Desmond told the show there is a particularly huge demand in the industry for electrictians, riggers and security, before adding that insurance costs involved in putting on shows have also risen significantly.
However, the Managing Director also said that customers "will not see an increase in ticket prices this summer".
"In actual fact, the ticket prices for the majority of shows are already on sale and a lot of them, the ticket prices are very much held at 2019, 2020 prices," he stated.
"I think future shows, there will be an increase.
"And obviously, I think you will see a slight increase in ticket prices for shows that are happening in 2023.
"But the majority of events are already up and running for 2022 and are on sale."