Concert Revenue Jumps 16 Percent in 2011

Concert business magazine Pollstar says that concert revenues for the 100 top-selling tours in North America rose 16 percent to $1.12 billion in the first half of the year.

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The number of tickets sold rose 5 percent to 16.7 million and the average ticket price jumped 10 percent to a record just over $67.

Coming off a dismal 2010, Pollstar said Thursday that the rise in average ticket prices of $6.25 each was "amazing."

Editor-in-chief Gary Bongiovanni says the price hike may have been driven by artists playing smaller venues at higher prices, or offering package deals with more value.

Revenue for the 50 top-selling tours worldwide also rose 11 percent to $1.65 billion. Tickets sold fell 2 percent to 19.4 million, but average prices spiked 14 percent to $84.92.