Many Americans have become accustomed to breaking up big purchases with buy now, pay later loans — including tickets for concerts and other live events.
Going to a live concert is not cheap: Tours of big-name artists including Taylor Swift, Beyoncé and Coldplay have in part spurred a rise in ticket prices for live events in recent years, a trend economists call “funflation.”
Admission fees to movies, theaters and concerts were up 3.9% in the 12 months through June, according to the latest Bureau of Labor Statistics figures. And while the Federal Trade Commission changed a rule in May to make ticket pricing more transparent, experts say the move won’t make costs go down.
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