As Donald Trump continues to swing back and forth on tariffs violently, consumers are growing anxious about how supply chain disruptions will impact their budget, among other things. Of course… these upticks in consumer product costs and descent into isolationist policies will deeply impact an already weary music industry. These tariffs will likely impact the price of your concert tickets, all the way to the already overpriced cocktail at the bar. Let’s break it down from instruments and tech needs to live music venue costs.
(As of publication, Trump put a 90-day pause on some countries but increased tariffs on China to 145%. Stay tuned for updates.)
Will concert tickets increase?
While it remains unclear if live event ticket prices will see a major spike, venues are bracing for fewer tickets sold overall. Of course, while nice, entertainment and travel may be the first items to get cut from the budget during a recession, as noted by The Hollywood Reporter.
Live event prices may vary from venue to venue, as a massive tour requiring light structures with imported parts, tech, etc., may increase prices at a faster rate than your local hardcore bands. Of course, should gas prices increase, this will also cause problems for small and mid-level bands who drive cross-country for gigs.
Based on tariffs placed on Canada, China, Europe, and more, venue maintenance products, bar necessities, and more may go up in price, too. And of course, if you’re a music fan, you already know that getting concert tickets is a challenge.
You can check out this recent CBS Saturday Morning ticketing story, which features Something Corporate at its center. (Pro tip: Now is the time to support small bands more than ever!)
Will vinyl record prices increase?
You already know the answer to the question. And sadly, yes, your records will likely surge in price. The vinyl industry has been growing since 2016, and accelerated during COVID-19 lockdowns as casual collectors or vinyl newbies expanded their shelves. Artists have found a solid revenue stream when releasing limited-edition vinyl variants, and record stores have seen much success in recent years.
Billboard notes that PVC (the type of plastic used to make a record) is often imported, as well as the paper vinyl packaging, and vinyl pressing lacquer. In fact, the music industry magazine interviewed David Macias, co-founder of Thirty Tigers, who said, “In an economy where everything else costs more, vinyl will become a luxury item.”
This could lead to any number of outcomes, including the shuttering of your favorite record store, lost profits for your beloved bands, and beyond.
Will instruments and tech products increase?
Given that these are physical products, they will likely suffer price hikes due to Trump’s nonsensical tariffs. Billboard recently shared an interview with John Mlynczak, president and CEO of the National Association of Music Merchants (NAMM). He shared, “We are proud to have a substantial amount of high quality music products made in the U.S. — it’s an impressive number compared to other industries — but the way it works is you have your highest level custom products made in the U.S., then your mid level and entry level products are made by partners in Mexico, China and other countries.”
With guitars, drums, basses, and more coming directly from other countries for relatively cheap prices, young or inexperienced musicians may find it more difficult to get their hands on their first or second instrument. Naturally, gear, including amps, cables, and beyond, will likely face price hikes due to tariffs, too. Hobbyists and touring musicians alike will feel the sting from this supply chain upset, no matter what brand they prefer.
