Ticket Sales Increase 300% Compared to Same Period Last Year
Recent Performances with R-Seat Prices Ranging from 300,000 to 400,000 KRW
Industry Cites High Oil Prices, Rising Airfare, and Exchange Rates as Causes
As demand for performances has increased since COVID-19, classical ticket prices continue to soar. Photo by Yonhap News
[Asia Economy Reporter Kim Heeyoon] As COVID-19 subsides and good news continues with domestic classical musicians winning overseas competitions, complaints are rising among audiences visiting concert halls about the steeply increased ticket prices.
According to the classical music industry on the 4th, ticket prices for classical performances have recently been on the rise, triggered by the resumption of overseas orchestras' tours to Korea.
First, the Montreal Symphony Orchestra from Canada, which will hold a concert in Korea starting on the 5th, has ticket prices of 330,000 KRW for R seats. The G?rzenich Orchestra Cologne from Germany, scheduled to perform on the 8th, also set ticket prices at 250,000 KRW for R seats.
Since the lifting of COVID-19 social distancing measures, demand for performances has exploded. According to the Integrated Performing Arts Information System on the 4th, domestic performance tickets sold in the last 30 days from June 3 amounted to 50.8 billion KRW, nearly double the 26.5 billion KRW from the same period last year.
For classical music, ticket sales from June 3 to the recent one-month period reached 7.6 billion KRW, nearly three times the 2.6 billion KRW from the same period last year. The industry analyzes that the demand surged due to the resumption of overseas orchestras' tours, which had been stalled by the COVID-19 impact.
The problem lies in the ticket prices felt by audiences who are booking performances after a long time. The signal flare was the Vienna Philharmonic & Riccardo Muti concert held in Korea last November, where R seat tickets cost as much as 480,000 KRW. The London Symphony Orchestra's concert in October, the Paris Orchestra in November, and the Vienna Philharmonic Orchestra's upcoming tours are also expected to have ticket prices set in the 300,000 to 400,000 KRW range for R seats.
The industry points to rising airfare as the cause of this soaring ticket price trend. Due to the increase in oil prices caused by the Ukraine war and the rise in fuel surcharges centered on airlines, airfare costs have increased by 30 to 40% compared to before COVID-19, which is having a significant impact.
Additionally, since contracts for large orchestra performances are usually signed several years in advance, for orchestras contracted before COVID-19, the planning agencies bear the full brunt of the price increases. Industry insiders explain that factors such as increased airfare and exchange rates have led to ticket price hikes.
An industry insider stated, “While demand for performances is increasing, the performance industry is still maintaining a recovery trend, and considering inflation rates, the current ticket pricing is seen as realistic rather than excessive. Moreover, with explosive interest in performers due to recent international competition wins, ticket prices are expected to remain at the current level for the time being.”
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