I don't care for Taylor Swift but I keep reading about these sold out stadiums so I decided to check prices. She is appearing in Philadelphia at Lincoln Financial Field for three nights. It seats around 66,000. They are cutting off the area behind the stage but make up the difference with seats on the field. The minimum get in price is around $983 before fees. That's around $1150 after fees. Even at enormous NRG stadium she getting almost $700 before fees. I have been around along time but I have never seen prices like this for stadiums. Arenas that seat 20,000, maybe. But these are three times the capacity. We are talking about 200,000 available seats in each city. This is what people would pay if somehow you could reunite the Beatles in 2023. Simply put there is no entertainer or group in the world that could create this ticket demand. I'm sure scalpers have bought many of tickets but when the prices are still $700 a couple nights out that means the demand is still there. Where are parents or young people getting the money to buy these tickets. I had read that some families had taken out loans so they could take their children to the show. I have no doubt this is true. That would be around $4500 for a family of 4.
There use to be a way to for a computer program to execute massive buy orders by scalpers so they could control the secondary market. When they put in safeguards to prevent that they used call centers in India who would simultaneously log in Ticketmaster the moment tickets became available. Not all got through but enough did to make it profitable. You are paying people very little. It's easy to do. They all sign up for Ticketmaster accounts using debit cards. Whoever gets through gets a bonus. I'm sure these brokers also used centers in the US too. There are tickets that become available for high leverage events everyday. Ticketmaster uses programs like verified fan where you register and they issue a promo code. Not a big deal. The scalping conglomerate employs huge amounts of people to apply. So say they issue 1 million codes and only those people are given a chance to buy tickets. Scalpers might end up with 20% of those codes through various means. The face value of the cheapest tickets are $49 plus fees. So say they are $75 and now you could put them in the secondary market starting at $600-$700. Even after you pay the broker fees you are probably clearing $400 in profit. That's just for the base price tickets. The scalpers purchase the floor and lower bowl seats where they can earn $1000 a ticket. Ticketmaster uses a dynamic pricing system just like Uber so they raise the face value in real time as people get through on their site.
The NFL increased the face value of Super Bowl tickets to discourage scalpers. How's that working out. They price the minimum tickets at $1000 and then they are resold at $3500. Higher face value doesn't prevent scalping. It just means the tickets cost more on the secondary market. Every method used to prevent scalpers from acquiring tickets as failed. It's a free market system. Whatever someone is willing to pay for a ticket sets the price. Where StubHub is dishonest is partnering with a team to set a floor. The Yankees were pissed that tickets were selling tickets below face value because of lack of demand. They forced to StubHub to move their office 1 mile away from the stadium because they were killing walk up sales. So StubHub forced people who wanted to sell their Yankee tickets at a minimum set price. These partnerships should be illegal. The Flyers had a horrendous season. The arena was always half empty. Yet every time I went on StubHub the decent tickets were still priced high. How could this be. Simple. Season ticket holders were forced to price them that way.
The NFL increased the face value of Super Bowl tickets to discourage scalpers. How's that working out. They price the minimum tickets at $1000 and then they are resold at $3500. Higher face value doesn't prevent scalping. It just means the tickets cost more on the secondary market. Every method used to prevent scalpers from acquiring tickets as failed. It's a free market system. Whatever someone is willing to pay for a ticket sets the price. Where StubHub is dishonest is partnering with a team to set a floor. The Yankees were pissed that tickets were selling tickets below face value because of lack of demand. They forced to StubHub to move their office 1 mile away from the stadium because they were killing walk up sales. So StubHub forced people who wanted to sell their Yankee tickets at a minimum set price. These partnerships should be illegal. The Flyers had a horrendous season. The arena was always half empty. Yet every time I went on StubHub the decent tickets were still priced high. How could this be. Simple. Season ticket holders were forced to price them that way.
If you wait until the day of events like this, the prices come way down
However, those greedy sites like StubHub, vivid seats, and SeatGeek, will gladly eat unsold tickets instead of coming down enough to sell them all
Effing assholes
However, those greedy sites like StubHub, vivid seats, and SeatGeek, will gladly eat unsold tickets instead of coming down enough to sell them all
Effing assholes
That’s not the way places like seat geek works
Seat geek does not own the tickets . They take a cut from the resellers . So they don’t eat unsold tickets .
I have sold tickets on seat geek before and I have to pay them a fee for that
Probably already is
