SAN DIEGO — Was 2022 an extraordinarily profitable year for festivals, concerts and tours by bands and solo artists? An extraordinarily costly one? Or both? And with concerns about a possible recession or new COVID surge, what is the outlook for this new year?
The answers depend who you ask about the past 12 months and what lies ahead. The past year saw some tours, venues and festivals enjoy record attendance. But others could not overcome inflation, skyrocketing production costs, supply-chain issues, staffing shortages and the continuing impact of the nearly 3-year-old COVID pandemic.
A number of superstar acts earned more than ever from their performances, including Elton John and Bad Bunny, both of whom did sold-out San Diego concerts at Petco Park. Their 2022 tours earned, respectively, $274 million and $393.3 million.
