Demand for concerts is soaring, budgets are getting bigger and tour dates are piling up as America heads into an expensive summer of live events.

• Post-pandemic demand for live shows has come roaring back — and shows are bigger and infused with more tech than ever, Axios' Erica Pandey reports.
• The Wall Street Journal dubbed 2023 "the year of the $1000 concert ticket."

🧮 By the numbers: Event attendance was up 24% in 2022 compared with 2019, according to Live Nation, the parent company of Ticketmaster. And the company expects 2023 to outpace 2022.

• Spending on food, drinks and merch at Live Nation events was up 10% in 2022 compared with 2019.
• And big-name artists are thinking bigger. "It's almost like a different Broadway musical for each song," Dave Brooks, Billboard's senior director of live music and touring, told the New York Post of Taylor Swift's Eras Tour — which has a rocket sled, stunts and numerous costume changes.

These trends — coupled with supply chain woes and inflation — are driving up the price of concert tickets.

• Overall, ticket prices are up 10% from pre-pandemic times, Bloomberg reports. The average resale ticket price on SeatGeek has doubled, from $125 in 2019 to $252 in 2022, according to The Journal.

🔭 What to watch: The big-budget shows might not be sustainable, says Jason Mercer, a live music analyst at Moody's.

• As the job market cools down and economic uncertainties pile up, fans' willingness to shell out hundreds of dollars for a seat might wane.

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King Charles III was crowned today in a royal ceremony at Westminster Abbey.

🖼️ The big picture: It's the first U.K. coronation in 70 years. King Charles III, 74, ascended the throne after his mother, Queen Elizabeth II, died in September.

• Why it matters: For a nation struggling to maintain its standing in a new world order, its supporters say the royal family provides an international draw, a vital diplomatic tool and a means of staying on the world stage, Reuters reports.
• But there's public skepticism, particularly among the young, about the role and relevance of the monarchy.

Inside the abbey, bedecked with flowers and flags, politicians took their seats alongside celebrities, including actors Emma Thompson, Maggie Smith, Judi Dench and singer Katy Perry.

First Lady Jill Biden represented the U.S.

• No U.S. president has ever attended a British royal coronation. But there were plenty of other heads of state there, including French Prime Minister Emmanuel Macron and Philippines President Bongbong Marcos.

💡 Between the lines: Today's coronation ceremony and festivities included traditions that have been in place for more than 1,000 years.

• Charles' wife, Camilla, will become the first Queen consort to be crowned since 1937.

Above: Prince Louis, 5 — the youngest child of Prince William and Kate — yawns as he arrives at Westminster Abbey.

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President Biden strongly stuck up for his son, Hunter Biden, in an interview with Stephanie Ruhle, host of MSNBC's "The 11th Hour," aired last night.

• Ruhle pointed out that his 53-year-old son could be charged by the Justice Department, and asked how that could impact his presidency.
• "It will not because he has done nothing wrong. And I'm proud of him," Biden replied.

Because of a technical glitch, Ruhle asked the question again — and Biden went even further:

• "First of all, my son has done nothing wrong. I trust him. I have faith in him. And it impacts my presidency by making me feel proud of him.

On Vice President Kamala Harris, Ruhle asked: "You've officially announced you're running for reelection, and in your first video you feature Vice President Harris 10 times. When Obama was in that position, he didn't mention you, sir. What are you trying to tell us?"

• "Well, President Obama and I became very good friends. ... [W]e just had a slightly different style of how we do things."

"I just think that Vice President Harris hasn't gotten the credit she deserves," Biden continued. "She was attorney general of the state of California. She has been a United States senator. She is really very, very good. And with everything going on, she hasn't gotten the attention she deserves."

• Video: Hunter ... Debt ceiling ... Immigration.

The royal family gives very few interviews, but its members find other ways to communicate with the public, including the colors of the clothing they wear, Axios' Erin Davis, Jared Whalen, Eleanor Hawkins and Will Chase write.

🧠 With the help of machine learning, Axios Visuals analyzed the colors of hundreds of outfits worn by four British royal women to see what they might be saying.

• All their wardrobes were dominated by reds and blues, the colors of the British flag.
• None of the women wore very much green at all. Queen Elizabeth said she needed to be seen to be believed, and green can blend into the background at grassy venues.

Go deeper: Take a trip through royal fashion history.

• Credits: Will Chase, Erin Davis, Eleanor Hawkins, Tiffany Herring, Mickey Meece, Sheryl Miller and Jared Whalen.

Five horses have died at Churchill Downs in the past week, as the historic racetrack gears up to host the Kentucky Derby today.

• Why it matters: The deaths are a tragic reminder that even amid horse racing's recent and long-overdue reform, major issues remain regarding animal welfare, Axios' Jeff Tracy writes.

Churchill Downs suspended trainer Saffie Joseph on Thursday after two of his horses — Chasing Artie and Parents Pride — collapsed and later died after races at the venue's spring meet earlier in the week.

• Derby entrants Wild on Ice and Take Charge Briana were euthanized after suffering catastrophic injuries in workouts or races, and Code of Kings was euthanized after breaking his neck in a saddling paddock on Saturday.

The bottom line: A rash of sudden deaths has led — yet again — to a referendum on the sport of kings.

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Some House Republicans are fretting about whether they'd be able to pass a watered-down version of their debt ceiling bill once the terms are negotiated with Senate Democrats and the White House, Axios' Juliegrace Brufke has learned.

• Why it matters: House moderates say House Speaker Kevin McCarthy and GOP leadership aren't doing enough to tamp down expectations with the right-wing Freedom Caucus — harming the chances for any compromise bill.

🥊 State of play: Several GOP lawmakers believe clawbacks to unspent COVID funding is the most realistic spending cut to remain in a Senate bill, with one GOP member referring to the House-passed debt ceiling bill as “a fairy tale” and “not real.”

• But "there are people who actually think ... they're gonna get [the current House bill] and even more a year from now," a House Republican told Axios.
• A Freedom Caucus member disputed that characterization, saying the "understanding is there ... that you might not get 100% of what the House passed, but we put Kevin in a very good negotiating position."

🔎 Behind the scenes: Despite the initial House GOP bill passing, several lawmakers told Axios the process has hurt their ability to move major pieces of legislation.

🔮 What's next: President Biden and the top four leaders of Congress are scheduled to meet Tuesday to discuss a path forward.

• Treasury Secretary Janet Yellen has warned that the government is weeks away from a catastrophic default if the debt ceiling isn't increased.

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The blockbuster "Yellowstone" with Kevin Costner will end in November and be replaced the next month by an as-yet-untitled sequel, the Paramount Network announced.

• Matthew McConaughey is in talks to star in the new show.

The "Yellowstone" fifth-season debut last November was seen by 12.1 million viewers, more people than any other scripted series last fall — a remarkable feat for a show not on a broadcast network, AP reports.

🔎 The intrigue: "Yellowstone" will wrap up with new episodes in November; how many wasn't announced.

• Those episodes haven't been filmed. It's not clear whether Costner, who plays Montana rancher John Dutton, will participate following reports that he may want out of the series.
• A Paramount spokesperson said: "Kevin Costner is a big part of 'Yellowstone' and we hope that's the case for a long time to come."

🔮 What's next: David Glasser, CEO of 101 Studios, which produces "Yellowstone" with MTV Entertainment, said the new series "will be picking up where 'Yellowstone' leaves off in another epic tale."

• "Yellowstone" will be part of the title, which wasn't the case for prequels "1883" and "1923."

Season 5 trailer.

Above: Fans dressed up at Churchill Downs yesterday. Attendees have been showing off intricate, beautiful hats at the racetrack since the first Run for the Roses in 1975.