Lucrative tours by the Rolling Stones, Pink Floyd and the Eagles made 1994 the richest year ever for the concert industry, a trade magazine reported today.
A record $1.4 billion was spent on concert tickets during the year, shattering the previous record of $1.1 billion spent in 1991, Pollstar magazine said.The year also was notable for ticket prices that climbed above $100 for the Eagles and Barbra Streisand concerts, said Gary Bongiovanni, Pollstar's editor. He said that except for the Grateful Dead, the practice of charging significantly higher prices for better seats became the industry norm.
The Stones took in $121.2 million from 60 North American concerts, making their "Voodoo Lounge" tour the richest ever. They broke their own record of $98 million, set the last time they toured in 1989, Pollstar said.
"Money" proved to be more than one of Pink Floyd's best-known songs. The group made $103.5 million this year during its trek across the continent.
The reformed Eagles had the third most profitable tour, at $79.4 million in ticket sales, and Streisand's much-awaited return to the stage made $58.9 million.
The Stones' standard may prove nearly as durable as the group itself. "I don't know of any other act waiting in the wings that could conceivably do that much business," Bon-giovanni said.
The Grateful Dead had their best concert year ever, at $52.4 million, but it was only enough to get fifth place on the list of top tours. Last year, the Dead topped Pollstar's list with $43 million in concert ticket sales.
Bongiovanni said the industry continues to worry that few new acts show the earning power of the graying veterans.
"We are fueled by Jurassic rockers and sooner or later, those acts will be physically unable to climb the stairs up to the stage," he said.
Melissa Etheridge, Nine Inch Nails and Green Day were three relatively new acts that did well in 1994. R.E.M., the Eagles, Tom Petty, Van Halen and a reunion tour for Jimmy Page and Robert Plant are expected to be the big draws this year.
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ADDITIONAL INFORMATION
Top concerts of '94
Pollstar magazine's list of the 10 most lucrative concert tours in 1994:
Rolling Stones - $121.2 million.
Pink Floyd - $103.5 million.
Eagles - $79.4 million.
Barbra Streisand - $58.9 million.
Grateful Dead - $52.4 million.
Elton John and Billy Joel - $47.7 million.
Aerosmith - $26.9 million.
"Lollapalooza" tour - $26.7 million.
Phil Collins - $26 million.
Reba McEntire - $24.3 million.