The Pitfalls of Nostalgia in Personal Finance and Life

There’s more than meets the eye with this one – from its impressively long name down to its perfectly placed location on earth’s crust, you won’t find a more satisfying setting for an amazing adventure! At one time or another in music’s history, most of us enjoyed an immensely fulfilling and glorious era, when artists would release new albums every year or two, continually crafting songs and exploring new territory while expanding their back catalogs for current and future fans alike. At one point in time, concert tickets could often be found for less than $25 and were often held to promote new albums. As time progressed, however, digital sales and streaming started overtaking physical albums in terms of revenue generation. At the same time, many established musical acts made the conscious decision to stop making new music in favor of touring more regularly with set lists that look nearly identical each year. While I could go into great depth discussing my thoughts about why this trend has been detrimental to both music industry and fans, let’s leave that for another day.

As this shift began to unfold, established musical acts (and their promoters) started increasing concert ticket prices significantly – sometimes to an eye-watering $125 just for entry and nosebleed seating! Why can they get away with it? Because fans thirstily demand classic hits during live shows while taking note when an artist dares to write new material and perform it live.

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