Concert tickets are affordable here and the biggest problem is hotels quadrupling their rates on the backs of concerts and sporting events.
That is according to the boss of MCD Productions, Denis Desmond who said today that MCD Productions in its joint venture business with Live Nation are projecting to sell 3m tickets here in 2024.
The projected 3m is 50% more than last year and will include three sell out shows by Taylor Swift at the Aviva Stadium and four sell out nights by Coldplay at Croke Park this Summer.
Mr Desmond made his comments when asked on comment on trade industry journal, Pollstar figures showing that MCD Productions/Live Nation last year generated $133.48m (€122.67m) in ticket sales as the promoters sold more than 2m tickets here.
The average price of an MCD concert ticket here last year based on the Pollstar figures is $63.14 (€58).
Asked to comment on the price of concert tickets here, Mr Desmond said: "Ticket prices are affordable. There is a huge cost in putting on shows be it insurance, ferries, flights, hotels, wages etc."
Mr Desmond said that concert tickets cheaper than West End or Broadway shows.
He said: "The biggest problem is hotels quadrupling their rates on the back of concerts and sporting events. The Government should step in and make it illegal to increase published rate card."
On MCD's 2023 performance, Mr Desmond said that he was happy with sales considering the lack of stadium shows.
He said: "Harry Styles at Slane Castle and Dermot Kennedy at Marlay Park and Thomond Park shows were special.
He said that Dermot Kennedy sold 155,000 tickets in Ireland in 2023 and this was "huge".
Mr Desmond said that the joint venture with Live Nation continues "and there are new opportunities in Galway, Limerick and Cork".
He said: "The live music business continues to grow. The audience age is six to 76 plus."
On the growth of live entertainment outside Dublin, Mr Desmond said that in Galway "we are doing a series of marquee shows at old airport site with the likes of Madness, The Waterboys and Fatboy Slim."
The most recent accounts for parent firm of MCD Productions, the UK-based Mr Desmond’s joint venture with Live Nation, LN Gaiety Holdings Ltd show that it recorded pre-tax profits of £42.39m in 2022.
The business operates here and in the UK and its non-UK revenues in 2022 totalled £148m out of total revenues of £470m. The company paid out a dividend of £8.79m to non-controlling interests during the year.
Reporting by Gordon Deegan
