4 ms·
It's becoming more common lately for artists to sell tickets with very high face values: Jay-Z's recent concert in DC had the majority of tickets selling for $5
by rms 18y ago
It's becoming more common lately for artists to sell tickets with very high face values: Jay-Z's recent concert in DC had the majority of tickets selling for $500 and balcony tickets for $375, which was slightly over the secondary market price. Elton John and Billy Joel's upcoming tour have tickets going for $200 and $100.
But the main reason is risk management -- why take a risk with high priced tickets when you can be sure that the scalpers can guarantee you a sellout at the profit margin you're comfortable with? As fallentimes says, audience perception goes into it also -- Bruce Springsteen sells his tickets for about $100 which is well under market for an artist that appeals to an older crowd. He probably thinks he is doing his fans a favor.
- paulgb 18y agoThe thing I don't like about the risk management argument is that aren't these performances usually put on by major labels? Or is it the venue that is taking the risk? If it is a large label that puts it on, they already have a "diverse portfolio" in some sense, so if one show bombs they can rely on others to balance it out. Even if they do need to manage risk, surely there is a more efficient way to do it? Maybe you're right and it is the result of benevolence on the part of the artist.