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In general, I 100% agree with you that prices should rise or fall until markets clear, but there is a counter argument that I believe is correct in some cases:
by tjic 14y ago
In general, I 100% agree with you that prices should rise or fall until markets clear, but there is a counter argument that I believe is correct in some cases:
Fans are a complex system, and the people who might turn out for dozens and dozens of shows over years, create buzz, convert friends to your cause, etc. may not have the funds to pay for tickets priced at the margin.
Thus, it might be a mistake to charge market clearing prices that cause long term damage in your fan base.
I don't know for sure that this is correct, but in general, the market evolves behaviors that make sense, so the fact that very few performers try to squeeze every last dollar out suggests to me that it might be a reasonably intelligent strategy to avoid the quick profit that way.
- moe 14y agothe people who might turn out for dozens and dozens of shows over years, create buzz, convert friends to your cause, etc. may not have the funds to pay for tickets priced at the margin Maybe that could be solved with a loyalty system? E.g. tickets could get a discount weighted according to how many tickets you've previously bought for that act. Of course the discount should only apply for one ticket (or a small number) to prevent the scalpers from taking advantage.
- eslaught 14y agoNot how many tickets you have bought, but how many shows you have actually shown up to. Scan people's tickets at the door, and keep a database so that you can reward those who attend reliably.
- jeffool 14y agoThat's the same thing unless you have some kind of double authentication to prove the person who bought the ticket is the same one using it at the show. Like, say, matching it to an outside-authenticating number, like SSN or driver's license number. Otherwise a scalper can just use "employees" to purchase a few tickets (the limit) at each venue, and resell them.
- dandelany 14y agoThe fans would know about the discount, so I'm sure they'd be more than happy to give their name and show a driver's license at the door.
- jrockway 14y agoLet's also have some backscatter imagers to make sure nobody brings weapons into the venue. Emulating the airlines is a business model guaranteed to succeed!
- waterlesscloud 14y agoI suspect it would be illegal to use SSN, but it's still an interesting idea.