Why some major artists are suddenly canceling shows, and in some cases entire tours

No, J-Lo Live Tour in 2024!

A series of tour cancellations and changes by big-name artists has sparked questions about whether the post-pandemic live music boom could be cooling, as consumer spending fatigue meets elevated ticket prices.

On Friday, Jennifer Lopez announced she was canceling her 2024 tour, citing a desire to spend more time with her family. Meanwhile, the Black Keys announced they were abandoning a stadium tour in favor of a series of shows at smaller venues.

Both tours had recently become the subject of social media fodder, namely screenshots showing empty venues at select tour dates. (NBC News could could not directly verify their authenticity.)

Indeed, some of the evidence of a slowdown is anecdotal. SeatGeek said in an email that the average resale ticket price to attend a summer concert is down to $213 from $257 around this time last year. The company suggested some of the decline could be attributed to the absence of megatours on par with Taylor Swift’s “Eras Tour” and Beyoncé’s “Renaissance” outings last year.

For artists whose popularity has crescendoed, there appears to be plenty of demand — and high prices. The average resale price for Olivia Rodrigo’s “Guts” tour is $571, and the next-highest is $409 to see Morgan Wallen, according to SeatGeek data first reported by Axios.

Many of those tours are being sold through Ticketmaster and its parent Live Nation. And prior to facing landmark accusations that it is a monopoly, a claim it denies, Live Nation reported its biggest first quarter ever, with $3.8 billion in revenues. Its concerts business alone was up 26% to $2.9 billion, while “estimated fans” globally were up more than 20%, and up 42% in North America.

Article By Rob Wilie and Dania Lalaii  for NBC News; for more: bit.ly/3z6g2mc