Swifties, as the popstar’s fans are known, aren’t necessarily your average American, but they capture the current moment in the post-COVID economy. Even aslooms, many consumers are willing to splurge on what they missed at the height of the pandemic — whether it’s travel or live entertainment.
“Concerts are seen as an affordable luxury in times of crisis,” said Lisa Yang, a Goldman Sachs Group Inc. analyst who publishes the bank’s annual “Music in the Air” report on the global industry. Among them was Melissa Kearney, an economics professor at the University of Maryland who is now experiencing first-hand the basic laws of supply and demand. The mother of two Swifties, ages 12 and 15, said she’s looking at secondary-market prices after failing to score tickets.Article content
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