ArticleDownload Worksheet May 14th, 2012
What Does Lady Gaga’s Asia Tour Say About the Global Economy?
Lady Gaga recently kicked off her “Born This Way” tour in Seoul, the capital of South Korea, and will travel to Hong Kong, Taiwan’s Taipei, Jakarta in Indonesia, Singapore, and Bangkok in Thailand. After years of disappointing concert ticket sales due to the recession, promoters are looking at the growing economies of Asia where millions are entering the middle class and willing to spend big bucks on live concerts.
The music industry suffered major losses during the global economic downturn. Popular musical acts such as The Jonas Brothers, Rihanna, Lilith Fair and American Idols Live had to trim tours and cancel performances two summers ago.
But according to Bloomberg News, there is a growth in disposable income among young Asian professionals, who are more willing to spend money on things like expensive concert tickets.
Alan Ridgeway, Live Nation’s worldwide promoter for Lady Gaga’s shows, told the Associated Press that Japan has always been a destination for successful musical artists, but it never made sense to extend the tours through all of Asia until now.
Music promoters turn to Asia to sell tickets
“Now as we see increasing demand from other markets such as South Korea, China and Indonesia, it becomes possible to route a financially viable multi-date tour through the region” said Ridgeway.
“Asia makes economic sense now because rising disposable income among fans here has driven up demand for live entertainment across the region.”
With the continued financial troubles facing Western countries, many musical acts have been seeing a decline in demand for live entertainment, “so Asia is a new market they want to develop to make up for the shortfall,” said Mindy Coppin, the Singapore-based managing director for IMG Artists’ Asia-Pacific operations.
Tour sparks protests and boycotts
Lady Gaga has made it clear she is very excited about the Asian leg of her tour. She tweeted “Hong Kong show tonight! So much to do, working away like a busy bee. Ready to tear the face off this city.” However, even though her shows all over Asia have sold out, not everyone has welcomed her.
Religious groups from Christians in Korea to Muslims in Indonesia have accused Lady Gaga of degrading the morals of the various nations and are urging people to boycott her concerts.
Regardless of these protests, 25,000 tickets were sold within the first two hours of sales in Jakarta, according to the Economist. But some concessions have been made due to the objections of religious groups; for example, South Korea’s concert rating agency raised the minimum age to attend Lady Gaga’s concert from 12 to 18 years old.
Gaga’s ripple effect
Music industry analysts are watching to see the results of Lady Gaga’s Asian tour. Already, concert promoters lowered their prices from 2010 to 2011, and have turned to “flexible pricing” programs that allow them to start cheap and raise prices if sales start to take off.
But now, they might also rethink where to launch their shows and expand world tours to not only include Japan but also the entire Asiatic region in a sign of improving economic times, at least in some parts of the world.
–Compiled by Saskia Chanoine for NewsHour Extra
Submit Your Student Voice
Tooltip of RSS content 3
Defending scientific facts from political attack takes center stage on Earth Day
More than 500 “March for Science” demonstrations took place around the U.S. and the world on Saturday in response to those who challenge widely-accepted scientific evidence and consensus. Continue readingclimate changeDonald Trumpearth scienceenvironmentenvironmental scienceMarch for ScienceParis AgreementScience
Tensions rise between U.S. and North Korea over nuclear testing
The U.S. and North Korea exchanged threats Monday after Vice President Mike Pence’s visit to the demilitarized zone between North an South Korea. Continue readingDonald TrumpMike PenceNorth Koreanuclear weaponsSocial Studies
Class debate: Artists lock horns over Fearless Girl and Charging Bull sculptures
Two sculptures located in New York City’s Financial District have artists and art appreciators locking…artart historyCharging BullDebateFearless GirlsculptureSocial StudiesWall Street
Scientists try to understand disease killing millions of U.S. bats
West coast scientists are studying a deadly bat disease called white-nose syndrome after it spread to Washington state from the Northeast last year where it has killed more than 5.5 million bats since 2006. Continue readingbatsinfectious diseaseresearchScienceSRLstudent reporting labswhite-nose syndrome
Neil Gorsuch confirmed to Supreme Court following rules change
The Senate confirmed U.S. Supreme Court nominee Neil Gorsuch Friday in a 54-45 vote, following a contentious week of opposition from Democrats prompted Republicans to change Senate rules in order to push the vote through. Continue readingGovernment & Civicsjudicial branchjudicial systemNeil Gorsuchnuclear optionSocial StudiesU.S. SenateU.S. Supreme Court