Ed Sheeran Is on Track for the No. 1 Concert Tour of All Time. Here’s How
wsj.com
wsj.com
That's the bulk of it.
Edit: I never heard of this guy before now, so I don't know if any of these guesses are the reality.
I don't think the market clearing price is anywhere close to double the cost. The article implies they could easily get 10% more. That's not the difference between rich and not-rich.
having money to pay is not
Axe to grind sounds about right. Or PR, I'm sure his team understands the economics but the fans may not.
And requiring people to burn money-equivalents for tickets produces a large loss - the potential gains from supposedly better distribution hardly seem worth it.