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> On the other hand, I’m equally surprised at how few people seem to understand supply and demand has influence on prices. I watched as some family members comp
by andersa 3y ago
> On the other hand, I’m equally surprised at how few people seem to understand supply and demand has influence on prices. I watched as some family members complained loudly about how concert prices were outrageous and unaffordable for the average person like them, then went right on ahead and then bought the tickets they wanted anyway. They didn’t understand that people’s willingness to pay uncomfortably high prices was the entire reason tickets were so expensive.
It sounds like the alternative you propose would involve... not having a ticket? That is clearly not an acceptable outcome if I want to go to the concert.
- sahila 3y agoWhy isn’t it acceptable? It’s the same way I want to own a yacht and a private jet but it’s too expensive so I accept that I can’t afford it.
- ryandrake 3y agoLOL@ the visual. “Ugh, these private jets are so expensive these days!” as he buys a King Air. A lot of people just don't get it: Tickets for major sporting events and concerts are luxuries for the rich, exactly like private jets. They are supposed to be unaffordable. I don’t know where this idea came from that a middle class family is supposed to just be able to afford live Taylor Swift tickets. This isn’t 1970. If artists price them below what they are worth, they are going to sell out to (mostly) scalpers in 200 milliseconds. If they price them at what they're worth, people grumble and complain about how expensive they have gotten, but that doesn't stop people from buying them, so there is no downward pressure on the price.
- fuzzfactor 3y ago>If they price them at what they're worth, people grumble and complain about how expensive they have gotten, but that doesn't stop people from buying them, So by now they're pricing them way more than they are worth, and people are buying it regardless, so there's still further upside :\
- SR2Z 3y agoThey're still pricing them below what they're worth, as evidenced by just how many tickets I've bought from scalpers at a markup. I want concert tickets to cost more; I hate scalpers more than I hate the rich.
- sahila 3y agoHow much are they worth? They're worth as much as someone is willing to buy one.
- fuzzfactor 3y ago>This isn’t 1970. Yeah, I remember when Led Zeppelin first came to my town. All the way from England. It wasn't 1970 yet either. That was two dollars well spent.
- nkrisc 3y agoYou don’t have to go to a concert. No one needs to go to a concert. You go if you can afford it, and you don’t go if you can’t. Or find a free concert to go to. There’s always free music performances to be found if you know where to look.
- throwaway22032 3y agoThe maths is pretty simple, though. Someone like Taylor Swift has hundreds of millions of fans. There are what, maybe 50-100 tour dates a year. The venue doesn't have a million seats. Most of the fans aren't going, then.