It's also part of a greater trend in the world in terms of what people spend their money on... we're losing ground in terms of an economy based around ownership of objects and going towards an experientially based economy.
People who might have spent $5,000 on cutting edge art in 1980 now spend $5,000 on yoga retreats in Cambodia. Music and creative "experience" festivals are more expensive because they have become a higher priority in people's lives. We also see that from the perspective of having been vendors at various festivals... booth fees are going up, but sales (of "things") are declining.
social media helps to greatly fuel those 'experience' demands, after all ya 'can't take it with you' right? 😄 it seems there is a broad pref for enjoyment and not so much for preparation