Beyonce and JAY-Z shook up the scene yesterday with the formal announcement of their joint ‘On The Run II Tour.’
And while fans brace themselves for a round of The Hunger Games at the box office, music’s reigning power couple look set for a major payday.
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According Billboard, The Carters could be on their way to a whopping $200 million gross from the show; a figure, which if achieved, would see them double the $100 million earned on their 2014 outing.
How is that so?
First is the fact that they’re taking the trek to more regions than before (15 international cities and 21 domestic dates). A move which sees them effectively double the number of shows from their initial tour – which, on average, generated $5 million per concert.
Beyond this, promoter Live Nation are enjoying heightened success with much more aggressive pricing for such shows. And Jay’s recent ‘4:44 Tour’ served as a textbook case study to highlight this.
The strategy sees the media giant make the lower end of tickets even cheaper ($25), thus packing more folk into venues. Conversely, premium V.I.P packages receive a price hike (unlikely to be deterrent to those who were going to pay top prices anyway) and more per show is generated. Hence the tour overall becomes even more lucrative.
We’ve always been as intrigued by Bey and Jay’s business moves as we have their music.
Speaking of the latter, one has to wonder whether the long rumored joint album will function as another component of the tour. After all, if ever there was a time to capitalize, it’d be now.