Rising concert costs: How Ozfest highlights affordability gap for college tudents

Photo via Megan Bell

A Boogie wit da Hoodie performs at Ozfest as college students gather for an affordable night of live music on campus. 

Oswego, N.Y. – As concert ticket prices continue climbing nationwide, affordable live music is becoming harder for college students to access, giving campus events like Ozfest new economic relevance at SUNY Oswego. 

In the years following the COVID-19 pandemic, concert ticket prices have risen sharply, outpacing inflation and reflecting changes within the entertainment industry.

Mihai Paraschiv, Associate Professor of Economics and the Chair Department of Economics, said the increase is being driven by both supply and demand. On the supply side, higher costs tied to staging concerts, insurance and other production expenses have pushed prices upward. On the demand side, more consumers have shown a willingness to spend money on experiences like live music.

Paraschiv explained that concert prices have grown faster than the consumer price index since 2020, suggesting that the increase is tied more closely to pressures within the entertainment sector than to inflation alone.

“This suggests that the reasons for the increase in concert ticket prices have more to do with the entertainment sector as opposed to the overall economy,” Paraschiv said.

Resale markets are also a factor, Paraschiv said. Automated bots can purchase tickets at face value and resell them at much higher prices, which can raise prices directly while also forcing organizers to spend more money trying to limit that activity.

“Concert ticket price arbitrage, especially by automated bots, does play a role,” Paraschiv said. 

For younger audiences, those rising prices can hit especially hard.

“College students and younger audiences are the ones affected the most by rising concert prices as they have lower disposable incomes,” Paraschiv said. “Higher concert ticket prices will undoubtedly force them to make tougher choices if they are to attend their dream concert.” 

The larger economic trend helps explain why Ozfest continues to matter at SUNY Oswego.

This year’s concert has already generated a lot of buzz after A Boogie wit da Hoodie appeared to reveal his involvement before the official announcement, sparking conversations across campus.

President of Student Association Programming Board Precious Ihezuo said artists are selected through a student-center process. 

“We conduct a school-wide poll that includes a variety of artists across different genres to ensure we are capturing diverse student interests,” Ihezuo said. “Based on the results and highest-voted options, our team then begins outreach to those artists and their management.”

Ticket prices, which are $20 for students this year, are determined by a combination of previous years’ pricing, artist value and production costs.

“We aim to keep tickets affordable for students while still delivering a high-quality experience,” Ihezuo said.

Even so, the Student Association has also had to respond to the same economic pressures affecting the wider concert industry.

“With the increasing costs associated with booking artists and producing live events, we’ve had to be more strategic with our budgeting,” Ihezuo said. “This often means finding creative ways to maximize our resources while still meeting student expectations.”

Ozfest was originally created as a safer alternative to Bridge Street Run, which had become associated with heavy drinking and safety concerns. Over time, it evolved into one of SUNY Oswego’s biggest annual traditions.

“I view Ozfest as our version of a homecoming-style event,” Ihezuo said. “It brings the campus community together in a really special way.”

Paraschiv said smaller-scale events can help make live music more affordable, though he noted that lower ticket prices and smaller audiences can also mean lower revenue for artists.

As major concerts become increasingly expensive, affordable campus events like Ozfet may become even more important for students looking for a chance to experience live music without the high cost.