According to an article in Music Business Worldwide, about 20% of hot concert tickets end up on the secondary market, often at super inflated prices. In Adele's case, whenever a ticket is offered for resale by a buyer, the sale is immediately canceled as each ticket is individually registered to the fan that bought it.
This has resulted in less than 2% of her tickets now available for resale, and that number of dropping.
The prices appear to be as high as $1,500 over face value, but buyer beware though, as you might be buying a ball of hot air that won't get you into the concert after all.
It should be noted that in many cases the artists themselves are responsible for the high scalping prices, as they hold back a block of tickets and sell directly to the secondary markets for a quick profit. Not so with Adele. to her credit. She's already made plenty of money, and would rather her fans not have to pay more than the asking price to see her live.
2 comments:
Something I've always wondered - why don't artists concerned about ticket prices book multiple nights in the same venue? Increased supply will help keep the prices down, and reduced travel, set-up and take-down will decrease tour overhead costs. Seems like a win-win. What am I missing?
The logistics are difficult in that the venue may not be available (usually the case) or the promoter may be unsure of how many tickets can be sold when the tour is put together a year or more out. It's hard to gauge the demand even for the pros, especially at a major venue.
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